Travelers Speeds Up Commissions During Pandemic
Travelers has launched a “Distribution Support Plan” aimed at providing financial support to its insurance agents and brokers who are facing liquidity challenges as a result of the COVID-19 crisis. The company said it intends to accelerate more than $100 million in commission payments to eligible agents and brokers. These commissions were accrued in the course of conducting routine business during the first quarter of 2020.
“As so many are facing a significant financial burden due to the COVID-19 pandemic, we want to show our agent and broker partners, many of whom are small business owners, our support at this challenging time,” said Alan Schnitzer, chairman and chief executive officer.