The Travelers Companies, Inc. (NYSE: TRV) today announced it is extending its Stay-at-Home Auto Premium Credit Program, giving its U.S. personal auto insurance customers a 15% credit on their June premiums. The company is already providing its customers with a credit on their April and May premiums under the program. Customers' accounts will continue to be automatically credited, providing some measure of relief during this time.
"We have been evaluating our various COVID-19 relief programs in an effort to determine how we can best support our customers, agents, brokers and communities," said Alan Schnitzer, Chairman and Chief Executive Officer of Travelers. "Our data suggests that the trend of fewer miles driven in April and May is likely to continue through June, and we're pleased to provide an additional credit to customers. As cities and states begin to lift restrictions, we'll continue to closely monitor the environment to understand the impact on driving behaviors and claims."
The company is working with regulators to obtain all the necessary approvals.
Travelers continues to provide auto coverage for customers across the country whose job responsibilities now include using their personal vehicles to make food, grocery, pharmacy and medical supply deliveries.
The Stay-at-Home Auto Premium Credit Program adds to the company's COVID-19 response initiatives. Among other things, Travelers is offering billing relief to customers, is accelerating more than $100 million in commission payments to eligible agents and brokers and has pledged $5 million to assist families and communities affected by the COVID-19 pandemic across North America, the United Kingdom and the Republic of Ireland. The company also continues to work with individuals experiencing financial hardships to offer solutions based on their unique circumstances.
The 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 $32 billion in 2019. For more information, visit www.travelers.com.
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