PRODUCT: Travelers Railroad Protective Liability Coverage

COMPANY: Travelers

BEST RATING: A++ (Superior)

AVAILABILITY: Travelers Construction offers coverage to contractors on an admitted basis and through Travelers agents and brokers, who can visit their website and click “For Agents/Brokers” at the top of the page to get a quote.

FOCUS: Travelers, offering a dedicated railroad protective liability unit for 20 years since it started specializing in construction, provides unique product features that set it apart as a competitor in this tough niche. Since the railroad protective liability policy itself is standardized based on the requirements of the Railroad Insurance Management Association (RIMA), what sets Travelers apart is “the fact that agents can turn around quotes quickly,” says Barb Graycarek, second vice president of the Construction Product Management department at Travelers. “You really have to distinguish yourself through the service aspect of this product, and it’s a critical product—the contractor can’t operate on the job if this is required and they don’t have it yet.”

Although a contractor is required to provide a railroad protective liability policy any time he or she is doing work within 50 feet of a railroad, “it’s something that is very often an afterthought—needed last minute, submitted last minute and bound last minute,” says Sarah Rosenholtz, managing account executive of the Travelers Construction Railroad Protective unit. “The contractor can be locked out of a job site just because he doesn’t have the policy in hand. The certificate of insurance is often not enough. So having underwriters and administrative personnel that do this day in and day out and who can be responsive in case a policy is needed basically overnight—that’s what really sets us apart.”

Travelers also makes the process easier for its agents, who can utilize the company’s online system Construction eQuote to access a quote for railroad protective coverage 24/7. The company recently enhanced that system to broaden the agent’s level of authority, which “increases their ability to obtain and bind a quote without having to be referred to an underwriter,” Rosenholtz explains. “We had gotten rave reviews in the past, but it’s now even more convenient than it was before.”

UNDERWRITING: ISO coverage form required by the RIMA. Coverage is on an occurrence basis with defense outside limits. Travelers can provide railroad protective liability to a contractor even if that contractor’s general liability is not written with Travelers. Deductibles are generally not required. Policy is for the term of the job rather than on an annual basis. Typical limits are $2 million/$6 million and $5 million/$10 million, but higher limits are available.

MINIMUM PREMIUM: $2,500

TARGET: Any contractor doing construction work.

COVERAGE TERRITORY: All states.

CONTACT: Sarah Rosenholtz; Travelers Construction RRP, 343 Thornall St., Suite 530, Edison, NJ 08837; 732-321-5634.

Jacquelyn Connelly is IA senior editor.