Automated Tests: Article Detail Page - Article Content Body - Media Blocks 2
Video & Transcript Block
An overview of the Video & Transcript Block scenarios below are covered in the following wiki.
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Chris Hayes, Travelers Safety Specialist.
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CHRIS HAYES: Timing is everything, and when you're on the highway, every second counts.
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Text, The “3 Second Rule” that Can Save Your Life. Hashtag Think Safe. A car follows another car with about two car links between them.
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We usually think of stopping in terms of space, but what really matters is time. It takes about 1 and 1/2 seconds to notice a potential risk in front of you, and another 1 and 1/2 seconds to react, hit the brakes, and slow down. So you want to give yourself at least 3 seconds between the car in front of you and your vehicle.
To measure, wait for the car ahead of you to pass a set object-- tree, road sign, light pole, any clear marker will do. After it passes, start counting 1,001, 1,002, 1,003. If you reach that same object before you reach 3, you're too close.
(DESCRIPTION)
A warning sign appears on the diagram with arrows showing the amount of distance 1.5 seconds is in between the two moving vehicles. A second photo appears of a foot stepping on a brake pedal showing that another 1.5 seconds is needed to stop before hitting the car in front of it.
Of course, this 3-second baseline is right for a car in normal driving conditions. Driving in bad weather, add one more second. Driving an SUV, add another second. If you're driving a commercial vehicle, it's got to be at least 6 seconds. So don't forget the 3-second rule, and don't forget to share the safety with your friends and family.
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A pole and a tree are shown as the two vehicles are moving to show how to count the seconds being spaced in between each vehicle. It begins to rain. Arrows appear on the screen showing the distance length of 4 seconds for bad weather. An SUV appears and arrows show the amount of distance for 5 seconds. Then a commercial vehicle appears and shows the amount of distance for 6 seconds.
[MUSIC PLAYING]
(DESCRIPTION)
Text, Travelers. Logo, A white umbrella. Get more safety tips at Travelers dot com slash Think Safe. Hashtag Think Safe. The information in this video is intended for use as a guideline and is not intended as, nor does it constitute, legal, technical, or professional advice. Travelers does not warrant that adherence to any recommendations, best practices, or guidelines will result in a particular outcome. In no event will Travelers or any of its subsidiaries or affiliates be liable to anyone who has access to or uses the information provided in the video.
Chapter #1
Trends in Construction Claims: Steeper Costs Are Affecting Most Lines of Business
Claims are getting more expensive across major lines of business, with auto and general liability losses hitting the umbrella layers of insurance.
Thad Doyle, AVP, Construction Claims at Travelers, puts it into perspective with a look at Travelers-specific claim trends
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Logo, Travelers. Text, Trends in Construction Claims: Steeper Costs Are Affecting Most Lines of Business. Thad Doyle, A.V.P., Construction Claims at Travelers. Thad is seated in his office speaking to us.
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THAD DOYLE: From an insurance industry perspective, we're definitely seeing these issues, especially the labor force and some of these other pressures, play into our claim activity. And in claims, we really think about it across several lines of business. So for today, I want to touch upon our four major lines-- auto, general liability, umbrella, and workers' compensation. And we are seeing an increase in the number of losses, and we're also seeing an increase in the number that hit umbrella.
And we recognize the majority of this audience is seeing that in their own experience with rising claim costs and the associated corresponding rise in premiums. So just to put it in perspective, I want to give an overview, a high-level look of some of our own specific Travelers claim trends on a percentage basis by line of business. So let me start with auto. It's been a challenging line for a while.
From Travelers' experience, looking at our own claim data from 2020 to 2023, we've seen our average incurred-- and when I talk about incurred, I'm talking about reserves, expense, and indemnity-- often at 10% or slightly higher year over year, starting that 2020 perspective. And that aligns very closely to our paids. Our paids have been around that 10% mark, slightly higher in the more recent years. Now, that will fluctuate by geography and by contractor type, by SIC code. But overall, directionally, I think it tells you guys in our audience, really, where our claim spend is heading.
(DESCRIPTION)
Logo, Travelers. Text, Learn more. Travelers.com. Copyright 2024, The Travelers Indemnity Company. All rights reserved. Travelers and the Travelers Umbrella logo are registered trademarks of The Travelers Indemnity Company in the U.S. and other countries.
What is a business owner's policy (BOP insurance)?
A BOP, or a business owner's policy, brings together most of the insurance coverage a small business owner typically needs in one package.
