HARTFORD, Conn.--(BUSINESS WIRE)--
Now, more than ever, boaters are looking for ways to improve fuel
economy and reduce their impact on the environment without sacrificing
speed. As a result, hybrid powered boats are starting to enter the
market. As boaters are beginning to purchase these innovative vessels,
Travelers (NYSE: TRV) stays in-synch by today announcing an
innovative, industry-first discount of up to 10 percent on hybrid boat
and yacht insurance.
The marine industry has responded to consumer demands for
efficiency with new technology and hybrid powerboats fully capable of
delivering the performance most boaters expect. Hybrid boats allow the
operator to utilize electric propulsion at low speeds to minimize or
eliminate emissions and fuel consumption. However, hybrid powered
boats can generate the horsepower needed to reach higher speeds with
the internal combustion engine.
"Hybrid vessels are using the latest, state-of-the-art technology
in the marine industry," said Chantal Cyr, vice president of the Boat
and Yacht Division for Travelers. "At Travelers, we closely follow the
newest developments in boating so we can deliver the best marine
insurance products and services to meet our customers' evolving
needs."
Recently, various highly regarded manufacturers in the marine
industry have introduced their versions of hybrid boats to the
marketplace. The Hinckley Company offers a hybrid power option for
customers interested in its DS42 model, Scout Boats launched a hybrid
model in late 2007, Frauscher Bootswerft introduced its hybrid to the
United States in May 2008 and the Island Pilot DSe Hybrid will make
its debut at the 2008 Fort Lauderdale Boat Show. Steyr Motors, which
powers the Frauscher vessels, markets its hybrid engine as the
"world's first serial hybrid propulsion system for pleasure boats." In
addition, other large production manufacturers are reportedly
researching hybrid propulsion and developing prototypes to include in
their lineup of boats.
"Travelers marine specialists thoroughly reviewed the
functionality and operation of hybrid boats currently in the
marketplace," said Cyr. "Our research suggests boat manufacturers will
begin incorporating hybrid designs into different models to provide a
hybrid option similar to what's taking place in the automotive
industry."
A hybrid boat is specifically designed to reduce greenhouse gas
emissions and to conserve fossil fuels in comparison to the typical
gasoline or diesel only powered boats. Travelers defines a hybrid boat
as one that utilizes an integrated propulsion system that incorporates
both an internal combustion engine and an electric motor in its
original design. In this system, forward propulsion can be
accomplished with the use of the electric motor with or without the
use of the internal combustion engine.
Travelers continuously seeks ways to enhance existing products and
develop new insurance solutions and services to address the impacts of
changing climate and encourage environmentally friendly behavior.
Travelers was the first insurance company to deliver a national hybrid
auto insurance discount, as well as the first to deliver an insurance
discount to electric boat owners. The company also provides business
insurance products for environmentally focused commercial customers.
For more information on the hybrid boat insurance discount, or to
find a local Travelers independent insurance agent, visit
www.travelers.com.
About Travelers
The Travelers Companies, Inc. (NYSE: TRV) is a leading property
casualty insurer selling primarily through independent agents and
brokers. Travelers understands that life and business are inherently
dynamic and that the best way to serve customers is to deliver
insurance in-synch with evolving risks. The company's diverse business
lines offer its global customers a wide range of coverage in the auto,
home and business settings. Travelers is a Fortune 100 company, with
2007 revenues of approximately $26 billion. The company has more than
33,000 employees. For more information on being in-synch, visit
www.travelers.com.
*A discount of up to 10% applies only to certain coverages. The
discount may not be available in all states and is subject to
individual eligibility.
Source: The Travelers Companies, Inc.
Contact: The Travelers Companies, Inc.
Media:
Matt Bordonaro
860-277-7014 / Cell: 860-202-3034
or
Sheila Trauernicht
860-277-7461