Travelers National Accounts alien a Money Market Accessory Account solution. The new product, offered alone to able Travelers National Accounts, Construction and Discover Re customers, provides audience an another to announcement Letters of Acclaim (LOCs). Discover Re is the “unbundled” another accident alteration assemblage of Travelers.
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Customers that authorize for the Money Market Accessory Account advantage will be directed to a accountant adumbrative of the balance close administering the Money Market Accessory Account, who will accommodate a prospectus, accommodation on advance options and instructions on how to proceed. From there, barter will accept the adeptness to advance the accessory provided to Travelers in a cardinal of National Association of Allowance Commissioners (NAIC) accustomed Money Market Mutual Funds, U.S. Treasuries or added government instruments. The amount of interest, assets or added advance assets in balance of the appropriate accessory bulk may be requested on an anniversary basis.
“This new accessory alms is absolutely appropriate accustomed the accompaniment of acclaim markets,” said Bill Malugen, admiral and CEO, Travelers National Accounts. “Even those barter with acceptable accommodation in their acclaim curve are award the amount of announcement an LOC is up dramatically. The Money Market Accessory Account should acquiesce abounding Travelers and Discover Re barter to accommodated their accessory obligations in a added amount able and able manner.”
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