A division of Starr Insurance Companies debuted a distribution channel to sell coverage that benefits small federal government contractors. Many customers for The Travelers Companies Inc. will now be able to receive claims payments through PayPal.
Starr Insurance Companies’ Starr Wright Insurance Agency, Inc. has a launched a distribution channel for the Defense Base Act insurance coverage sold by its corporate parent, to better serve the needs of small federal government contractors.
The coverage includes statutory federal workers compensation and employers’ liability insurance for contractors working abroad and can be purchased directly through the website.
According to Reggie Gibbs, president of Starr Wright USA, the ability to purchase online will benefit the smaller federal government contractors who previously might not have been able to easily access this coverage.
Starr has also simplified the application process for all full or part-time federal contractors. It takes about five minutes to apply.
The Travelers Companies, Inc. said its Auto, Property and General Liability customers can now receive claim payments through PayPal in a process designed to provide a flexible, fast and easy reimbursement experience.
Travelers’ link to PayPal comes through Global Digital Disbursements, a service provided by Global Transaction Services at Bank of America Merrill Lynch.
PayPal is a digital payments platform that provides users with access to financial services including a digital wallet to send or receive money as well as make purchases anywhere PayPal is accepted. By distributing claims through PayPal, funds are usually delivered the same day that payment is issued by Travelers. The company’s Workers Compensation claimants are expected to be eligible to receive payments via PayPal in 2020.
Sources: Starr Insurance Companies, Travelers