Renewable Energy Insurance

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Text, Travelers presents Powering the Future, Eileen Kauffman, Global Practice Leader, Jonny Allen, Head of Offshore Wind.

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EILEEN KAUFFMAN: It's so easy to take this planet for granted. The wind, the sun, all that energy, all that power. Sometimes it just astounds me that in a country where we have such an abundance of renewable energy resources that we're still counting on fossil fuels for 80% of our energy needs.

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Dandelion.

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In a lot of ways, though, that's good, because in terms of future opportunities, the sky really is the limit.

JONNY ALLEN: There are so many things we've learned in Europe that can help ease the transition over to solar, wind, and other renewables. Over the last few decades, we've seen a tremendous amount of innovation in this sector, from improved construction methods to better grid integration.

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Wind turbine.

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EILEEN KAUFFMAN: Offshore wind is really gaining momentum here. Just look at the number of wind projects being planned along the Eastern seaboard.

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Jonny on shoreline.

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JONNY ALLEN: Today, we're looking at wind farms that can be built much further offshore, where they won't obstruct views. And new technologies are creating bigger, better turbines that can reach the stronger, steadier winds you find at higher altitudes.

EILEEN KAUFFMAN: All over the world, consumption of renewable energy is increasing dramatically. And over the next 20 years, the expected investment is estimated to be around $7.4 trillion.

It's a lucrative booming sector, and frankly, you just can't playin the space if you don't know what you're doing. That's why Travelers' is bringing on people like Jonny, men and women who spend time in the field, who've been out in the vessels and up the turbines.

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Solar panels.

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JONNY ALLEN: Travelers understands everything about the energy industry and its evolving technologies. We get the claim process, and we know the coverage options. We've thought through every detail from whether a typhoon class turbine will work in a hurricane, to how to handle inland transits of large turbines.

EILEEN KAUFFMAN: The bottom line is Travelers is reenergizing its global renewable energy practice to take on projects of all shapes and sizes.

JONNY ALLEN: From offshore and onshore wind farms, to solar energy and bio power operations, we have the expertise and commitment to protect the innovators and investors making renewable energy possible

EILEEN KAUFFMAN: Humankind is at a turning point when it comes to finding new ways to power our future. And Travelers is there with the knowledge and expertise to support the future in a way that makes sense for ourselves and our planet.

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Text, The Future is Here, Travelers dot com.