Renewable Energy

Energy transition introduces new challenges for European risk managers

Organisations working towards net-zero emissions need to manage new physical and business risks that are not always easy to anticipate, according to discussions at the Ferma Forum in Madrid last month.

Probitas adds marine and renewables business to Syndicate 1492

Lloyd's carrier Probitas has expanded into five new lines of business following its acquisition by UK insurance giant Aviva earlier this year.

Crawford forms global renewable energy practice with ex-RELA quartet

Claims management specialist Crawford & Company has launched a renewable energy practice led by a team from Renewable Energy Loss Adjusters (RELA), including former CEO Alan Tucker.

Satellite imagery to reduce parametric tornado basis risk: Descartes’ Girelli

Innovation and collaboration key for sustaining Asia’s renewable energy boom

Creating financial resilience for sustained progress in renewable energy in Asia will require greater collaboration, research, external capital and a seat at the table for insurance.

Axa XL looks to bolster cyber risk consulting team for energy transition business

Axa XL is forming a cyber risk consulting team specifically for companies involved in renewable energy infrastructure as the growing ubiquity of clean energy assets and lack of cybersecurity controls in supply chains and mergers raise concerns over increasing vulnerability.

Wind turbines: life extension for obsolete technology

Nick Evans, Aviva’s deputy head of renewable energy, outlines the issues in obsolete technology in the wind sector, and how insurers can look to underwrite complex life extensions.

Nardac: Offshore renewables to remain buyers’ market unless claim burden intensifies

London underwriting capacity for offshore renewable energy and infrastructure projects has been forced into competing on price, with premiums expected to remain low over the next 2 to 3 years, according to Nardac Insurance Services.

Skyward Specialty now offering casualty coverage to renewable clients

Skyward Specialty Insurance Group has broadened its renewable energy solutions to offer casualty coverage for classes including solar, wind, hydroelectric, biomass, and geothermal.

Lockton launches marine and energy offshore projects practice

Lockton has unveiled a new offshore projects practice to offer tailored products across upstream energy, marine and power.

Paratus receives approval to cover renewable power

Energy price risk insurer Paratus has been granted regulatory approval by the Guernsey Financial Services Authority to provide insurance cover to the renewable power industry.

GCube warns against broad renewables coverage as projects ramp up

Renewables underwriter GCube has called for greater capacity to support the next cycle of project development, but warned that broad coverage with high limits would lead to “unsustainable levels of risk”.

Thomas Miller launches standalone energy MGA Navata

London-headquartered mutual insurance group Thomas Miller has launched standalone MGA business Navata, which will underwriter a broad portfolio of energy risks.

Howden Re calls on reinsurers to refine underwriting to realise $237bn renewables opportunity

Howden Re has called on the reinsurance market to develop more sophisticated products that address the unique risks associated with renewable energy projects, with the broker estimating the sector will generate $237bn of cumulative premiums up to 2035.

Insuring European cobalt mining for a smooth transition

Mikael Ardell, CEO of UIB Nordic, outlines how the rapid growth of the electric vehicle market and lithium-ion batteries has caused an explosion in demand for raw materials such as lithium and cobalt, posing significant ethical and environmental issues for insurers to navigate.

A firefighter department’s loss is the insurance industry’s gain… and maybe the planet’s

What kind of career can you achieve without a degree? This was Raza Hassan's Google search in the summer of 2013. Options that appeared on the screen before him included: accountancy, firefighting, and insurance.

Pine Walk formally unveils renewables MGA Novagen led by AIG’s Del Villano

Pine Walk Capital, the specialist MGA platform and wholly owned subsidiary of the Fidelis Partnership, has formally launched renewable energy-focused MGA Novagen, a move first revealed by The Insurer in June.