The city of Hartford, Connecticut is known as the insurance capital of the world. It is home to two major insurance companies, Aetna Life Insurance Company and Travelers Property Casualty Corporation. Aetna sold its real estate accident division to Travelers in 1996 and its financial services division to ING Groep, a Dutch company, in 2000. This week, the two companies announced a merger between Travelers and The St.
Paul Companies. Travelers offers a variety of insurance products, including gap insurance which pays the difference between the actual cash value of your car and the remaining balance of the loan or lease in the event of theft or total loss of the vehicle. They also offer temporary insurance that covers approximately 5% of the comprehensive and collision premium of the car. General traveler insurance may also cover claims that are not covered by a standard liability policy, such as slander, defamation, and psychological harm. When it comes to ratings, WalletHub publishers gave Travelers 3.8 out of 5 stars, while The Hartford received 3.1 out of 5 stars.
Additionally, Travelers premiums are generally lower than The Hartford rates. So, is Travelers owned by Hartford? The answer is yes. Although Travelers's main NAIC number is 25658, the NAIC has assigned a different code to each of the Travelers affiliated companies.