Travelers Launches New Online Ocean Cargo Special Policy System
19 Januar 2007 - 5:00PM
Business Wire
Travelers announced today the launch of a new online cargo special
policy system that simplifies the process of communicating policy
terms and conditions to overseas customers. Special policies
provide negotiable evidence of insurance and are often required in
international trade transactions. The new online system ensures
that the special policy terms mirror the terms in the customer�s
cargo policy. �When a cargo shipment suffers a loss overseas, the
customer needs certainty about the insuring terms and conditions
that apply to that shipment. The special policy also gives the
customer the appropriate information to file a claim � and that is
critical in today�s complex international trade environment,� said
Scott Beebe, Ocean Marine cargo practice leader for Travelers.
Customers, agents and freight forwarders will have immediate and
worldwide access to the issuance of ocean cargo special policies.
In addition to customized insuring conditions for complex accounts,
the new online system�s features and benefits include: Faster
approval of shipments to restricted areas through an automatic
review process for Office of Foreign Asset Control (OFAC)
regulations; An improved tracking of shipments through a �void�
option; and A feature that allows previously issued special
policies to be copied and modified for subsequent shipments.
Travelers� new ocean cargo special policy issuance system can be
accessed at www.travelers.com/oceanmarine/cargocerts. To facilitate
the transition to the new system, the prior system will be
available until February 2, 2007. After that date, documents issued
in the prior system can be viewed in the new system. About
Travelers Travelers believes that life and business are inherently
dynamic and that the best way to serve agents and policyholders is
to provide insurance that helps them stay in-synch with their
lives. For more information on being in-synch, visit
www.travelers.com. Travelers is a business of The St. Paul
Travelers Companies, Inc. (NYSE:STA), a leading property casualty
insurer selling primarily through agents and brokers. The company�s
diverse business lines offer its global customers a wide range of
coverage in both the personal and commercial settings, including
automobile, homeowners, construction, small business, oil and gas,
ocean marine, financial and professional services, global
technology and public sector services. St. Paul Travelers is ranked
85 in the Fortune 500, with 2005 revenues of $24.4 billion and
total assets of $113.2 billion. The company has approximately
32,000 employees.
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