Travelers Offers New Coverage Protecting Directors and Officers
September 14 2017 - 9:00AM
Business Wire
The Enhanced Interview Request Coverage assists
individuals who are involved in a company’s internal investigation
into potential corporate wrongdoing
The Travelers Companies, Inc. (NYSE: TRV) today announced the
availability of a new coverage that offers additional support to
directors and officers who are asked to appear at meetings or
produce documents as part of an internal corporate investigation.
While most Directors and Officers (D&O) policies for
publicly-traded companies provide coverage for defense expenses
incurred when directors and officers respond to interview requests
from regulatory bodies, the new Enhanced Interview Request Coverage
from Travelers can reimburse those costs incurred when companies
conduct their own investigations, before any government
involvement.
“Due to the renewed focus on individual misconduct in corporate
investigations, it’s important for directors and officers to have
comprehensive protection,” said Shanda Davis, D&O Product
Manager for Bond & Specialty Insurance at Travelers. “Given the
current regulatory environment, this is a smart way to make a
needed addition to the coverage provided by a public D&O
insurance policy.”
The Enhanced Interview Request Coverage addresses evolving
exposures created by regulations that require corporations to help
investigate and identify individuals responsible for misconduct.
The coverage, which can be triggered when a company self-reports
potential corporate wrongdoing, brings a layer of protection to
public businesses and individuals at an earlier time in the
investigation process.
More public company executives are citing D&O exposure as a
top business concern. In the 2016 Travelers Business Risk Index,
more than 50 percent reported worrying about risks relating to
compliance with U.S. laws and regulations. The Travelers Risk Index
study found that publicly-traded companies are 60 percent more
concerned than other firms about their board of directors being
accused of fraud, unfair business practices or a breach of their
fiduciary duties, and that only 30 percent of public company
executives believe their business is properly insured.
About TravelersThe Travelers Companies, Inc. (NYSE: TRV)
is a leading provider of property casualty insurance for auto, home
and business. A component of the Dow Jones Industrial Average,
Travelers has approximately 30,000 employees and generated revenues
of approximately $28 billion in 2016. For more information, visit
www.travelers.com.
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The Travelers Companies, Inc.Michael Whitmer,
860-277-2010mwhitmer@travelers.com
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