The Travelers Companies, a property casualty insurer, has introduced its new Wrap+, a management liability policy.

The scaleable Wrap+ policy suite of coverages is comprised of liability, crime, kidnap and ransom and identity fraud expense reimbursement. Wrap+ policyholders may purchase the specific coverage they need now, and add more coverage as their businesses or organizations grow.

While a single coverage may satisfy a business’ initial needs, other coverage may be added upon renewal or mid-term as exposures emerge, to create a single, cohesive policy suite.

The company said that consistent policy language, terms and conditions within this progressive policy effectively minimizes gaps and overlaps. A common declarations page for all coverage makes Wrap+ easy to manage.

Francine Armel, assistant vice president of financial and professional services division at Travelers, said: With the array of liabilities that may impact Canadian businesses, Wrap+ offers private companies and non-profit organizations flexible coverage and protection from potential exposures.