Brings company’s long-term expertise and knowledge base together to
provide best-in-class service to wind and solar industries
HARTFORD, Conn.--(BUSINESS WIRE)--
The Travelers Companies, Inc., which has been offering insurance
products and risk management services for clean energy and technology
businesses for more than two decades, today announced the formation of
its Clean Energy & Technology Practice. This new Practice creates a
streamlined source of clean energy and technology-focused insurance
products, and risk and claim management resources.
“With Travelers’ long experience working closely with clean energy and
technology businesses, and as these businesses continue to grow and
expand, the Clean Energy & Technology Practice makes it easier for
independent agents and brokers to access the breadth and depth of
Travelers’ products and services,” said Joe Tracy, President, Travelers
Inland Marine. “The Clean Energy & Technology Practice offers rounded
total account solutions. Through a single touch point, customers
experience a streamlined process that provides access to a broad
spectrum of insurance products and risk management services.”
The Practice brings together all of Travelers’ existing clean energy and
technology practice areas, providing customers, including wind and solar
manufacturers, contractors, power producers, owners and developers,
smart grid, fuel cell development, alternative and other energy
efficient solutions, with industry-specific insurance protection. The
Travelers Clean Energy & Technology Practice has extensive capabilities
and interest in supporting U.S. entities and their international
exposures that focus on technologies that are energy efficient or
environmentally friendly.
Interest and demand for clean energy and technology is increasing
dramatically in the United States and across the globe.* As a result,
these demands have fueled the growth of businesses in the renewable
energy industry focusing on technologies that are energy efficient or
environmentally friendly.
“Clean energy and technology companies are expanding across the globe,
each with a unique risk profile that our underwriters are trained to
understand and address,” said Kathy Swendsen, President, Travelers
Global Technology. “By combining our expertise under one practice, in
conjunction with our independent agent and broker network, we help our
customers avoid the growing pains of inadequate coverage as their
businesses evolve.”
The Clean Energy & Technology Practice will be spearheaded by Travelers
veterans Tracy and Swendsen, and co-managed by Kirstin Simonson,
Underwriting Director for Global Technology, and Lauren Cutro Berry,
Underwriting Vice President for Inland Marine. For more information
about the Travelers Clean Energy & Technology Practice, visit www.travelers.com/cleanenergy.
About Travelers
The Travelers Companies, Inc. (NYSE: TRV)
is a leading provider of property casualty insurance for auto,
home
and business.
The company’s diverse business lines offer its global customers a wide
range of coverage sold primarily through independent agents and brokers.
A component of the Dow Jones Industrial Average, Travelers has more than
30,000 employees and operations in the U.S., Canada, U.K. and Ireland.
The company generated revenues of approximately $25 billion in 2010. For
more information, visit www.travelers.com.
* According to the Solar Energies Industry Association, today, solar
energy is the fastest growing energy technology in the U.S. The U.S.
solar market grew to a $6 billion industry in 2010, up 67 percent from
$3.6 billion in 2009. Similarly, the U.S. wind industry has added more
than 35 percent of all the new generating capacity over the last four
years according to the American Wind Energy Association. Today, U.S.
wind power capacity represents more than 20 percent of the world's
installed wind power.
Travelers
Jennifer Bagdade, 651-310-2883
JBAGDADE@travelers.com
Source: Travelers