VANCOUVER, BRITISH COLUMBIA, January 30 /CNW/ - A new policy designed to
give improved protection to mineral exploration companies was introduced today
by Travelers Guarantee Company of Canada ("Travelers") at the annual "Mineral
Exploration Roundup 2007" symposium in Vancouver, British Columbia. The
Roundup is the largest technical mineral exploration conference in the world
and is hosted annually by the Association for Mineral Exploration British
Travelers Mineral Exploration Policy helps junior mining companies and
their executives deal with the multitude of exposures they face in their
business stemming from mining-targeted securities regulations, kidnap and
ransom threats prevalent in foreign operations, merger and acquisition risks,
interactions with investors, employees, shareholders, governmental agencies
and pension plan participants.
Specifically, the policy can provide the following coverages:
-- Commercial property, including core and product samples;
-- Commercial General Liability;
-- Corporate Management Liability;
-- Kidnap and Ransom
-- Portable or mobile mineral exploration and surveying equipment; and
-- Foreign Voluntary Workers Compensation and Employer's Liability
"A burgeoning commodities market, growing market capitalizations, and
recent securities legislation amendments have contributed to an increase in
liability exposures for directors and officers, " said Steve Smith, assistant
vice president, Financial & Professional Services. "Our mineral exploration
policy is tailor-made for junior mining companies and addresses the unique
risks and exposures these companies face."
Vancouver is the mining financing capital of the world and the Vancouver
branch of Travelers Guarantee Company has underwriters, claim and risk control
personnel with specialized expertise in the mining industry.
Travelers Mineral Exploration Policy is available from independent
brokers located throughout Canada. For more information regarding this product
and other products offered by Travelers in Canada, visit
Travelers understands that life and business are inherently dynamic and
that the best way to serve agents and policyholders is to deliver insurance
that evolves to stay in-synch with life and business as they change. For more
information on being in-synch, visit www.travelers.com.
Travelers is a business of The St. Paul Travelers Companies, Inc.
(NYSE: STA), a leading property casualty insurer selling primarily through
independent agents and brokers. The company's diverse business lines offer its
global customers a wide range of coverage in both the personal and commercial
settings, including automobile, homeowners, construction, small business, oil
and gas, ocean marine, financial and professional services, global technology
and public sector services. St. Paul Travelers is ranked 85 in the Fortune
500, with 2005 revenues of $24.4 billion and total assets of $113.2 billion.
The company has approximately 32,000 employees.
For further information:
For further information: Travelers Media Contact: Kim O'Connell,