The multi-year program will examine the challenges of availability and affordability in the insurance marketplace and seek to engage policymakers, agents, brokers carriers and consumers in developing solutions.
Travelers chairman and CEO Alan Schnitzer said the initiative is designed to bring together industry stakeholders to strengthen the insurance system. He noted that in some jurisdictions, families and businesses are facing the effects of a marketplace that is not functioning as intended, and addressing these issues will require collaboration among policymakers, carriers, and consumers.
The program will use educational events, webinars, and resources to explore how environmental, economic, and societal changes are influencing the accessibility and cost of insurance. Partner organizations, including the Insurance Institute for Business & Home Safety, will contribute to the discussions.
The initiative will begin with an in-person event on September 16 in St. Paul, Minnesota. The program will feature a keynote from Rick Keegan, executive vice president and enterprise chief underwriting officer at Travelers, followed by a panel moderated by Joan Woodward, president of the Travelers Institute and executive vice president of Public Policy at Travelers.
Panelists will include Keegan; Michael Klein, executive vice president and president of personal insurance at Travelers; Glenn Westrick, senior vice president of government relations at Travelers; and Eric Nelson, senior vice president of enterprise catastrophe risk management at Travelers.
Woodward said the initiative will focus on education, providing agents, brokers, and customers with resources to better understand and navigate emerging risks.
The launch comes as availability and affordability of insurance have become pressing issues across the US. In states such as California and Florida, some major carriers have reduced or withdrawn from writing new property business, citing rising catastrophe losses, regulatory constraints, and higher reinsurance costs. These developments have left policyholders with fewer options and, in some cases, higher premiums.
Industry analysts have noted that insurers nationwide are evaluating how to balance risk exposure with financial sustainability in the face of climate-related events, inflationary pressures, and shifting demographics. Initiatives like Travelers’ are intended to create a platform for dialogue among stakeholders and to explore practical solutions for long-term market stability.
Meanwhile, regulatory frameworks are at the center of the insurance availability and affordability debate. In some markets, rate approval processes and restrictions on underwriting practices have limited insurers’ ability to adjust pricing to reflect rising claims costs and catastrophe exposures. These constraints have led some carriers to scale back or exit certain markets.
By including regulators and policymakers in the discussion, the Travelers Institute aims to highlight how policy decisions influence insurer participation and consumer choice. The initiative may also serve as a forum to examine potential regulatory reforms that balance consumer protection with the financial viability of carriers.
Additional events are scheduled for Oct. 20 in Tulsa, Oklahoma; Oct. 28 in Atlanta, Georgia; and Dec. 3 in Dallas, Texas. Further programming is expected in early 2026, the company said.
