insurance

Severe convective storms, also known as severe thunderstorms, may not generate the same headlines as hurricanes, but these storms can pose a greater threat to inland solar and wind energy projects. The

Over the past few years, climate change coupled with the Biden administration’s push for clean energy alternatives has spurred innovation in the power grid. One growing trend among developers, planners and forward-looking utilities centers on repurposing former brownfields and superfund sites into facilities that produce renewable energy alternatives such as wind and solar energy. The […]

News on extreme weather events in the U.S. report an increase in both frequency and size over the last couple of years, including thunderstorms, tornadoes, convective storms, flash floods, hurricanes, and winter storms. This has a massive impact on a renewable energy asset’s reliability and insurability; there have even been cases where lenders won’t approve […]

Unexpectedly steep financial losses suffered by the U.S. renewables market owing to a barrage of extreme weather events over the past summer suggest that project hardening strategies aren’t going far enough, a major renewables insurer is warning. GCube, an international insurer for wind, solar, wave, hydro, and tidal projects around the world in an update […]

JOHNSTON, R.I., USA—Policyholders of FM Global, which include one of every three Fortune 500 companies and similar size organizations worldwide, will collectively receive approximately US$300 million in a first-of-its-kind ‘resilience credit,’ providing them with additional means to invest in climate resilience solutions. The credit has the potential to help those organizations reduce total loss expectancies […]

The fog of uncertainty that hangs over the global power industry is getting larger and denser as generating companies and utilities navigate ever more complex challenges.

New brokerage to upend a market of general products and services with highly specialized offerings Newport Beach, CA – October 13th 2020 – Jatin Sharma and his co-founding partners have today officially launched a specialist insurance broker to serve the renewable energy, conventional power, infrastructure and transport sectors. NARDAC Insurance Services (NARDAC) is aiming to […]

JOHNSTON, R.I., USA—As part of its continuing commitment to cyber risk assessment, prevention and control, FM Global, one of the world’s largest commercial property insurers, has become one of the first insurance carriers to offer industrial control systems (ICS) evaluations at client locations as part of its routine engineering site visits. The ICS evaluation will […]

PORTLAND, OREGON (March 7, 2019) — ESS Inc., the leading manufacturer of safe, low-cost and long-duration energy storage systems, announced that it is now including 10-year insurance coverage on its long-duration energy storage products through Munich Re, one of the world’s leading insurance companies. The innovative policy provides warranty backstop for ESS Inc.’s proprietary flow battery technology, supporting the system […]

Risk is inherent in all businesses, but power plants face unique perils that require the right protection. Property and casualty insurance may not be enough; equipment breakdown, business interruption, weather risk transfer, and cyber coverage are just a few examples of insurance that may also be worth considering. The right coverage could mean the difference […]