The president of Travelers says the increased severity of weather events is forcing the company to increase rate over the long term, regardless of whether or not the climate is changing.

Speaking yesterday during the Bank of America Merrill Lynch Insurance Conference in New York, Travelers' President and Chief Financial Officer Brian W. MacLean said the company is pushing for rate increases across its commercial, personal and financial-professional books of business.

MacLean said the company has been successful in its quest for rate, but Travelers' catastrophe experience continues to worsen in the commercial and homeowners  lines.

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