The Travelers Companies, Inc. has a long and storied history, with its main predecessor companies being the Saint Paul Marine and Fire Insurance Company. Founded in 1853 in St. Paul, Minnesota, the company was created to serve local customers instead of relying on East Coast insurance companies to pay out claims.
It was able to survive the panic of 1857 by drastically reducing its operations and reorganizing itself into a limited liability company. This allowed it to expand its operations across the country. Throughout the 20th century, Travelers was responsible for many innovations in the insurance industry, such as the first automobile policy in 1889, the first air travel policy in 1901, and the first space travel policy in the late 1960s for Apollo astronauts. In 1954, it established the world's first privately owned meteorological research center, the Travelers Weather Research Center, which was the first organization to make weather forecasts using odds.
In the early 1990s, Travelers was primarily a general property and casualty insurer that also had some parallel travel insurance. In February 1994, it sold off its travel insurance business to a retiring executive, resulting in the company now known as Travel Insured International, a Crum and Forster company. Many of Travelers's predecessor companies, such as St. Paul and USF&G, still exist today and continue to write policies and accept claims under their own names (under the general brand Travelers).
Travelers never dissolved any of the companies it acquired but instead converted them into wholly-owned subsidiaries and trained its employees to act on behalf of those subsidiaries. This is a common risk management strategy used by insurers in the United States. If any company in the group receives too many claims, that company can be placed in a second round and allowed to execute its policies to completion while the rest of the group continues to operate normally. In addition to financial protection, another great advantage of travel insurance is access to assistance services wherever you are in the world. If you want to be sure that you have significant travel insurance benefits, consider getting OneTrip Prime plan.
In most cases, travel insurance reimburses you for covered financial losses after you file a claim and it is approved. The insured will not receive any special benefits or advantages due to the affiliation between AGA Service Company and Jefferson Insurance Company. Allianz Global Assistance and Allianz Travel Insurance are brands of AGA Service Company (known as Allianz Global Assistance) or its subsidiaries. Allianz Global Assistance offers a range of travel insurance plans that include different benefits and benefit limits. You can also check out GeoBlue's full range of international medical and travel plans for global lifestyles and sophisticated travelers.
If you plan several trips over the next 12 months, consider taking out annual travel insurance such as AllTrips Prime plan. Your travel health insurance plan can also be useful when paying for a medical evacuation, which can sometimes come with a six-figure price tag. The concept of passenger accident insurance was first introduced by Batterson, a stone contractor. In the late 1960s Charles Brunelle was running one of Hartford's largest advertising agencies; Hartford was known as either 'the insurance capital of the world', 'the Hollywood of insurance', or 'the filing cabinet of America' due to its numerous insurance companies. That year it sold the first accident insurance in America and in 1865 it began selling life insurance; this made it the first company in America to offer more than one type of insurance. The new financial services conglomerate passed into Weill's hands and adopted its red umbrella logo; this logo was retained even after splitting off its property and casualty insurance business in 2002 to form a new publicly traded firm called Travelers Property Casualty Corp. International health insurance can also be purchased as primary insurance for expatriates or people moving to another country for an extended period of time (6 months or more).