Travelers Launches MedFirst® Plus with Four New Coverage Options Including Product Recall Expense

  Travelers Launches MedFirst® Plus with Four New Coverage Options Including
  Product Recall Expense

  Coverage options for medical technology companies to address emerging risk

Business Wire

SAINT PAUL, Minn. -- April 02, 2013

The increased potential for data theft, malicious tampering and wireless
malfunctions in medical devices are top-of-mind concerns for the medical
technology and device industry. These emerging risk trends need to be managed
– and properly insured. To fill in the potential coverage gaps not covered by
a traditional general liability policy, Travelers (NYSE: TRV) introduces
MedFirst Plus, four new coverage endorsements to its MedFirst policy.

To help customers manage their overall risk profile, the new Travelers
MedFirst Plus endorsements include:

  *Product Recall Expenses Coverage
    Reimbursement of communication expenses, specified transportation
    expenses, specified employee expenses, certain inspection and testing
    expenses, and public relations expenses.
  *Security Breach Notification and Remediation Expenses Coverage
    Reimburses the named insured for certain expenses directly attributable to
    a security breach that is caused by an information security wrongful act.
  *Crisis Management Service Expenses Coverage
    Reimbursement of reasonable fees, costs and expenses incurred and paid by
    the insured to mitigate negative publicity such as retaining a public
    relations or crisis management consultant or firm and planning and
    executing your public relations campaign.
  *Clinical Trial Medical Expenses Coverage
    Provides payment for “medical expenses” for “bodily injury” included in
    the “products-completed operations hazard” regardless of fault. The bodily
    injury must arise out of the injured person’s participation as a human
    subject in a “clinical trial.”

MedFirst Plus complements the existing MedFirst trio of liability coverages
packed into a single insurance policy: products/completed operations, errors &
omissions and information security. “With more than 25 years of expertise in
providing insurance coverage solutions to medical technology companies,
Travelers’ broad protection offered by MedFirst and MedFirst Plus provides
even greater flexibility in building the right insurance coverage by packaging
many desirable coverages together in a single offering,” said Patty Nichols,
Second Vice President of Medical Technology Underwriting at Travelers.

Whether a medical technology customer is facing a potential liability, or
trying to manage business risks due to a product recall or a data security
breach event, Travelers has stayed in step with the needs of this growing
industry, with coverages and services that span the lifecycle of product
development – from R&D to clinical trials and production to distribution.

“Selecting an insurance company can be a complex process. Identifying your
real exposures often goes far beyond the completion of a simple checklist,”
said Ronda Wescott, President of Travelers Global Technology. “Travelers was a
pioneer with the introduction of MedFirst in 2010, and the endorsements in
MedFirst Plus ensure we will continue to lead the marketplace.”

In addition to MedFirst and MedFirst Plus, Travelers offers a full suite of
property and casualty insurance products and services tailored to the needs of
medical technology and device companies, from start-ups to the

MedFirst Plus will be available in all 50 states. More information on MedFirst
and MedFirst Plus is available on the Travelers website,

About Travelers
The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property
casualty insurance for auto, home and business. The company's diverse business
lines offer its global customers a wide range of coverage sold primarily
through independent agents and brokers. A component of the Dow Jones
Industrial Average, Travelers has more than 30,000 employees and operations in
the United States and selected international markets. The company generated
revenues of approximately $26 billion in 2012. For more information, visit


Gail Van Cleaf, 651-310-6902
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