Travelers Launches New Plastics Package

Travelers has launched a new insurance product for the plastics industry that will provide a range of commercial covers including property damage, business interruption, employers’ liability, public and products liability and professional indemnity for businesses within the plastics and rubber industry, from injection to slush moulding and thermoforming firms. In addition to the complete package of commercial covers, Travelers Insurance Company Ltd. can also provide non-conventional covers for large risks designed specifically to a customer’s individual needs.

Keith Purvis, general manager, Travelers UK, said: “The plastics industry has its own unique set of risks and requirements. It is making more investments into technical advances, and manufacturers are now involved in virtually every sphere of developing technology. Any insurer that provides services to the plastics industry needs to understand these developments.”

Travelers’ risk managers provide plastics industry specific guidance on many different topics to help customers manage their exposures, including advice on fire prevention measures, business continuity, product quality control, environmental issues and transit management.

The Travelers policy wording includes a flexible limit of loss option for business interruption and treats damage during any one period of 72 hours caused by storm or flood as one claim for purposes of excess. High coverage limits are also available in order to avoid the need for customers to buy excess of loss covers, and discounts are available for those who can demonstrate ISO or other industry standard accreditations.