As part of a plan to address climate change, St. Paul, Minn.-based Travelers has established a climate change committee to identify emerging risks that may require new underwriting strategies or the development of new types of coverage that are responsive to a changing climate. Travelers says the committee will consider insurance programs tailored to emerging clean energy technologies, such as wind farms.
‘As a major property casualty insurer, we focus on the evolving insurance requirements caused by changing climate conditions to address consumers' needs,’ says Robert Flynn, vice president of strategic policy for Travelers. ‘We regularly seek to identify and pursue opportunities for innovation to protect our customers' physical assets and financial future.’
Additional information about Travelers' climate change efforts is available in a report issued by the Carbon Disclosure Project, a coalition of global investors interested in examining the risks and opportunities facing the world's largest publicly traded companies due to climate change.