By market value standards, Travelers Companies is America’s largest insurance company. Not only that, but they are the second largest writer of commercial property in the whole country. They are so large, that Travelers Companies is listed as the 93rd biggest company on the Fortune 500 list of largest U.S. companies. Although one of their main bases is located in Hartford, Connecticut; Travelers Companies keeps their headquarters in St. Paul, Minnesota. They keep headquarters in St. Paul, Minnesota because that is where the company originated way back when. They were originally called the Saint Paul Fire and Marine Insurance Company and was founded on March 5th, 1853, in, you guessed it, St. Paul, Minnesota. They started off by helping locals, who were having a tough time claiming their insurance payment on time. This was proving to be difficult because their insurance companies were all located on the east coast of the United States. Around the same time, in 1864, Travelers was founded in Hartford, Connecticut. This particular company became famous in the insurance industry because of their innovative ideas. They were the first insurance company around to come up with an automobile policy, and they also came up with first commercial airline policy. Now, this next policy hasn’t come up a whole lot, yet, but they were also the first insurance company to offer a policy for space travel.
Over the next century, Travelers went through a serious of takeovers and mergers; and then in 2004, the Saint Paul Fire and Marine Insurance Company merged with Travelers and became known as St. Paul Travelers. This lasted for about three years and then in 2007, they decided to change their corporate name to The Travelers Companies. They changed it, because in that year they repurchased the right to their famous red umbrella logo and again made it as its main corporate symbol.
They offer many different kinds of insurance, and a few of them are: personal insurance, business insurance, financial insurance, professional insurance, and international insurance. Personal insurance covers a wide range of policies and they include: home insurance, auto insurance, and many other insurance related policies in the States. For business insurance, they provide all kinds of different property and casualty insurance. They want to make sure that every business, no matter how big or how small, is protected, in case anything should happen. Every business should expect to have problems over the course of their run. It’s key to make sure that when shoe drops, you have someone there to catch it. They offer financial, professional, and international insurance because they want to make sure that people have protection for every possible scenario. It’s important for every financial institution to be wary of possible crimes against them, and understand that they are financially liable if something happens. International insurance generally comes into play when property and casualty products are involved. These dominate the market on an international basis.
