Despite its decision to bow out of the private motor market in Ireland, Travelers states that they remain committed to the commercial insurance market in both Ireland and the UK.
The business insurance firm remarked that it will not be bowing out of British and Irish markets in light of its promise to work with brokers in Ireland to minimise any disruption caused to customers by the recent pull out of the private motor market. A company spokesman remarked that the overall European strategy for the company calls for a strong presence within Ireland and the UK, which means that Travelers will continue to provide insurance services to the commercial sector in both regions.
While working to implement an orderly transition, Travelers will take steps to work in close concert with its brokers in order to keep disruption for its current customers to a minimum, the spokesman also said. The insurer remains committed to providing the highest levels of customer service, and Travelers’ will continue to do so in regards to all of the insurance customers and policies impacted by the transition, he added.
The spokesman remarked that Travelers’ decision to bow out of the private motor market in Ireland will have no affect on any personal insurance business written by the firm in the US. Professional indemnity experts believe that Travelers’ recent move to reiterate its commitment to the Irish commercial market was precipitated by fears that the departure would result in the firm withdrawing from Ireland as a whole.
The firm currently provides a wide range of insurance products for individuals and businesses in Ireland and the UK, which include products providing cover to the manufacturing industry, custom markets, and medical technology fields.