The Travelers Companies, Inc. have formed the Clean Energy & Technology Practice. This new practice offers clean energy and technology-focused insurance products, and risk and claim management resources.
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 products, with industry-specific insurance protection. The Travelers Clean Energy & Technology Practice is focused on 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.
The Clean Energy & Technology Practice will be spearheaded by Travelers veterans Joe Tracy, president, Travelers Inland Marine and Kathy Swendsen, president, Travelers Global Technology, and co-managed by Kirstin Simonson, underwriting director for global technology, and Lauren Cutro Berry, underwriting vice president for inland marine.
* 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.
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