Travelers to credit auto insurance premiums for 2 months as part of stay-at-home program, to match Allstate's program

Travelers Companies Inc. said Wednesday that it will give its U.S. personal auto insurance a 15% credit on their April and May premiums, as part of is new stay-at-home program. The insurer said it working with regulators to obtain necessary approvals for the program. “Our customers are doing their part to stay at home and help stop the spread of COVID-19,” said Chief Executive Alan Schnitzer. “Our new program recognizes their contribution to the effort we all need to make to protect our health and safety and the resulting decrease in miles driven and auto claims.” Travelers’s announcement comes two days after Allstate Corp. announced a program to credit its auto insurance customers 15% of their premiums in April and May, as part of its shelter-in-place program. Travelers’s stock, which rose 3.8% in afternoon trading, has lost 23.6% year to date, while the SPDR S&P Insurance ETF has dropped 25.8% and the Dow Jones Industrial Average has declined 18.2%.