St. Paul Travelers announced the introduction of a new Imported Products Program, designed to furnish coverage for the special exposures faced by U.S.-based companies that import foreign products.
The policy is “tailored for manufacturers, wholesalers and other businesses that engage in foreign trade via the direct importation of products and components for sale in the United States,” and is designed to respond “to the burgeoning foreign products exposures experienced by many U.S. companies,” said the announcement.
President and CEO of the Commercial Accounts business group Pete Higgins commented: “St. Paul Travelers possesses the specialized underwriting and loss control expertise needed to effectively address the unique exposures faced by the increasing number of companies that import items for sale in the U.S.”
The bulletin said the “Imported Products Program enhances the core lines of commercial insurance offered by St. Paul Travelers to a wide array of businesses – including manufacturers, wholesalers and distributors, retailers, financial and educational institutions, agriculture and service companies.”
Higgins noted: “The Imported Products Program reinforces the company’s commitment to addressing the specialized insurance needs of mid-sized businesses. It also reflects our responsiveness to our customers’ growth, and their changing needs.”
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