Travelers Cos. Inc. is extending its property-casualty coverage to solar farms as global demand climbs for clean, renewable energy sources.
The New York insurer with major operations in Hartford says its Travelers Inland Marine unit is underwriting coverage for owners, operators and installers of solar photovoltaic systems. Inland Marine has underwritten coverage for wind farms for nearly a decade.
Travelers cites industry data claiming production of solar PV will increase four-fold between 2008 and 2012.
Lauren Berry, chief business development officer at Travelers Inland Marine, said the SolarPak coverage opens up new business opportunities for its network of independent agents and brokers.
