Travelers Commends U.S. Senate's Passage of Flood Insurance Reform Bill

By Travelers Staff | Tue, 13 May 2008

SAINT PAUL, Minn.--(BUSINESS WIRE)--May 13, 2008--The Travelers Companies, Inc. (NYSE: TRV) today announced its strong support of S. 2284, the Flood Insurance Reform and Modernization Act, which passed today in the United States Senate.

Senate Banking, Housing and Urban Development Committee Chairman Chris Dodd and Ranking Member Richard Shelby, along with a large bipartisan majority of their Senate colleagues, have produced a compromise bill that will put the National Flood Insurance Program on its way to fiscal soundness and stability, according to Travelers.

Chairman Dodd's proposed Commission on Natural Catastrophic Risk and Insurance will allow debate on that important subject to continue in a thoughtful, deliberate manner. Travelers is developing a proposal for making property insurance available and affordable along the Atlantic and Gulf coasts and looks forward to working with Congress and the commission to provide a comprehensive solution to a national problem.

Travelers is a leading provider of property casualty insurance. For more information, visit www.travelers.com.