Thursday, June 5, 2008

Travelers Sets Sail With Ocean Express

Travelers Ocean Marine has introduced Ocean Express, an online system that allows agents to easily submit, quote and bind comprehensive ocean cargo coverage for businesses with up to $10 million of annual international shipments.

Buying and selling overseas is no longer a game reserved for just the multinational companies. According to a joint report by the California think tank Institute for the Future and the software company Intuit, one-third of all small businesses are already doing business abroad and this could rise to 50 percent within the next 10 years. This trend is creating a substantial need for the smaller importer or exporter to obtain an ocean cargo policy that covers all of their shipments on broad insuring terms for an affordable premium, according to Scott Beebe, ocean marine director at Travelers. If companies are obtaining coverage on a shipment-by-shipment basis, they could be paying higher premiums for inadequate coverage.

Ideal for smaller importers and exporters, Ocean Express cargo policies offer:

  • Comprehensive all risk coverage for international shipments of new merchandise via ocean vessel or aircraft;
  • Flat annual premiums, with minimum premiums as low as $1,000;
  • Automatic coverage extensions at no additional charge, including control of damaged goods, concealed damage, shortage from containers and contingent interest; and
  • Fast, fair and effective claims handling from Travelers Ocean Marine claim specialists.

Ocean Express is available to appointed commercial lines agents through Agent HQ, Travelers proprietary online system.

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