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Travelers President: P&C Rates Need to Address Weather Reality

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.

By Mark E. Ruquet | Updated on February 14, 2013
Damage in Atlantic City, N.J. after Superstorm Sandy (Credit: AP)

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.

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