GCube Insurance’s Post

#RenewableEnergy markets remain attractive for insurers looking to secure long-term profitability and boost their ESG credentials, driving new entrants into the space. This is unsurprising, but for the sake of the industry’s progress, it calls for careful consideration over how best to balance competitiveness with robust support for #insureds in a time where #NatCat losses and fast-moving technological innovation can burn the fingers of an unwary insurer. GCube’s Head of London Market Underwriting, Oliver Litterick, discusses recent market trends and how #renewables insurance continues to walk a tightrope between supporting the energy transition and maintaining sustainable business. https://lnkd.in/e6iVyHCA

Renewable Energy - "How to manage rising insurance costs for your solar assets?!" Join my Webinar today at 11:00 am CET. While Denmark is facing a discussion about building a solar park without a fence at the lowest costs, the Netherlands are currently in the focus of every insurer when it comes to solar park assets. And the premium rates tend from 1 per mille to 3 per mille - so, a wide range where you can easily triple your insurance costs without having a strategy and being insurance resilient. Join us for some insights tailored for solar asset owners, developers, and operators as we delve into the evolving landscape of solar insurances. As the industry witnesses rising insurance costs, among others due to extreme weather events, it's crucial to understand how to effectively manage these expenses. We will share strategies on adjusting financial models to accommodate escalating and unpredictable insurance costs, ensuring your projects remain financially viable. I am really looking forward to discuss and evaluate the current developments with Niklas Will, CFA from Encavis AG and José Joaquin Munoz Osuna from Capcora. And many thanks Solarplaza, Celina Gundlach & Nicola Belafatti for organizing the webinar. Please register here: https://lnkd.in/eAm84KRK

Protecting the Future of Energy: Comprehensive Insurance in Oil & Gas Operations! In the dynamic and high-stakes world of oil and gas, robust insurance coverage is more than just a safeguard—it's a cornerstone of sustainable and secure energy production. The complexity of oil and gas operations brings a unique set of challenges and risks, from environmental hazards and operational disruptions to equipment failures and workforce safety issues. Comprehensive insurance plays a critical role in mitigating these risks, ensuring that companies can navigate uncertainties with confidence and resilience. It provides a safety net that protects valuable assets, supports regulatory compliance, and promotes environmental stewardship. By investing in tailored insurance solutions, oil and gas companies not only safeguard their operations but also enhance their capacity to innovate and lead in an ever-evolving energy landscape. Insurance is not just about protection, it's about empowering the industry to achieve long-term success and sustainability. Take control and protect what matters most by sending me a DM to get a competitive quote. Wishing you a productive week ahead. #OilAndGas #EnergySector #Insurance #RiskManagement #Sustainability #IndustrySafety #EnergySecurity #FutureOfEnergy #EnvironmentalProtection #BusinessResilience #InnovationInEnergy

The largest green energy conference “The smarter E” is in front of us. And therefore, I'm even more excited to share that TWAICE has partnered with NARDAC to improve insurance coverage for Battery Energy Storage Systems (BESS).  In this collaboration we are addressing long-standing challenges in securing adequate insurance: Key Highlights: 🔋 Proactive Risk Mitigation: By integrating advanced battery analytics with existing mitigation strategies, we can identify and address potential safety issues in advance. This proactive approach significantly reduces the likelihood of catastrophic events like thermal runaway, which have historically deterred insurers. 💰 Improved Insurance Terms: The combination of real-time analytics with AI and traditional risk mitigation strategies allows insurers to offer better coverage terms. This is a game-changer for BESS asset owners, investors, and lenders, making it easier to secure financing and lower development costs. As Tom Harries, Partner at NARDAC, aptly puts it, “The pipeline for BESS projects globally is transformative for further deployment of renewable energy. However, without better management of risks like thermal runaway, insurance capacity will decrease, premiums will rise, financing will be harder to secure, and battery development costs will remain high.” ✅ Research-Backed Insights: Collaborative research with EPRI and Pacific Northwest National Laboratory indicates 97% reduction in energy storage failures since 2018. Despite this, the severity of incidents remains high, making advanced monitoring and analytics crucial. Our partnership with NARDAC leverages these insights to provide tangible financial benefits to the entire energy storage market. Together with NARDAC, we have published a comprehensive whitepaper detailing how data-driven approaches to BESS health can enhance safety and optimize insurance policies. This whitepaper is a must-read for anyone involved in the BESS market 🚀 🔗 Download the whitepaper here 👉🏻 https://lnkd.in/dGVDuRPh Let's embrace innovative technologies and partnerships to transform the future of energy storage insurance. #EnergyStorage #BatteryAnalytics #InsuranceInnovation #TWAICE #NARDAC #RenewableEnergy 

Two of the insurance industry’s biggest companies, insurer Zurich and broker Aon, have created a new scheme for hydrogen production to boost the development of a sector viewed as key to the shift to clean energy. The platform will bring together a number of insurers, led by Zurich, to underwrite smaller individual projects of up to $250mn in capital expenditure that would otherwise struggle to find insurance. The projects will be offered a range of cover from construction to operational risks. The development comes at a time of growing concern about whether there is enough capacity in the insurance industry to provide the trillions of dollars of cover that will be required for green energy projects.

News from Members! Aon Romania, one of the leading insurance brokerage and risk management consulting firms, and UNIQA Asigurari, one of the most significant insurers engaged in sustainability actions, have partnered to offer comprehensive insurance solutions for renewable energy in Romania. This collaboration aims to support sustainable development and protect investments in renewable energy by providing All Risks coverage to Network One Distribution's installer partners and their clients. Network One Distribution is a leader in the Romanian Electro-IT market, offering integrated solutions and aiming to play an active role in the transition to renewable energy sources. This partnership addresses the growing needs of the renewable energy industry, particularly in light of increasing concerns about sustainability and environmental protection. Aon, leveraging its extensive experience in risk management and consulting, aims to deliver high-quality, data-driven professional services provided by experts to help clients minimize risks and maximize performance in a dynamic global economy. "With this partnership, we aim to innovate and contribute our expertise in managing risks in the green energy sector, protecting sustainable projects' investments. Moreover, we intend to offer our clients personalized and high-performance solutions to help them adapt rapidly to a context of rapid changes that can turn into opportunities", stated Eugen Anicescu, CEO of Aon Romania. With over 1000 global partnerships in the renewable energy sector and facilitating the insurance of over 1000 GW in the past five years, Aon brings expertise and innovative solutions to safeguard investments in green energy. Through this collaboration, clients choosing the benefits provided by Aon and UNIQA Insurance will enjoy All Risks coverage for 18 months during the initial installation and operation period of photovoltaic systems, protecting investments against unexpected losses or material damages caused by insured equipment. ℹ️ Aon Romania is one of the leading insurance brokers in Romania, providing professional services to commercial entities and financial institutions. Aon develops data-driven strategies delivered by experts to reduce clients' volatility and help maximize performance. Visit their official website at: https://lnkd.in/dmdCP9SD #members #news #aonromania #insurance #brokers #strategies #renewable #energy

𝗭𝘂𝗿𝗶𝗰𝗵 𝘄𝗶𝗹𝗹 𝗻𝗼 𝗹𝗼𝗻𝗴𝗲𝗿 𝘂𝗻𝗱𝗲𝗿𝘄𝗿𝗶𝘁𝗲 𝗻𝗲𝘄 𝗴𝗮𝘀 𝗮𝗻𝗱 𝗼𝗶𝗹 𝗽𝗿𝗼𝗷𝗲𝗰𝘁𝘀 Zurich Insurance Group AG will no longer underwrite new gas and oil projects. The insurer is taking a stand against fossil fuels, but will continue to underwrite existing clients in the sector. Zurich insures a range of carbon-energy projects and infrastructures, equivalent to 7% of total commercial premiums. Zurich states this type of insurance is not in line with its net zero emissions goal to be achieved by 2050. AdvantageGo is one of the leading technology providers for underwriters of renewable energy. Low emission electricity sources are predicted to supply 40% of the world’s electricity generation. Renewable energy and carbon credit insurance are widely seen as growth areas for insurance companies.   https://shorturl.at/ghUV2   #renewableenergy #reinsurnace #insurance #renewableenergyinsurance

Navigate the world of solar panel insurance with confidence! Our latest blog post covers everything you need to know to safeguard your solar investment. #SolarEnergy #RenewableResources #Insurance

The Ministry of New and Renewable Energy (MNRE) has released an updated list of insurers providing specialized insurance products tailored for #solarpowerplants.  Insurance Regulatory and Development Authority of India #solarenergy #renewableenergy #EnergeticaIndia

𝗘𝗻𝗲𝗿𝗴𝘆 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝟮𝟬𝟮𝟰-𝟮𝟬𝟯𝟬. 𝗚𝗹𝗼𝗯𝗮𝗹 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 The report offers a comprehensive overview of the Energy Insurance industry's development, encompassing segments such as Physical Damage (Onshore and Offshore), and Construction Risks (Onshore and Offshore), alongside analyses of key enterprises in both established and emerging markets. It delves into cutting-edge technologies, patents, prevalent applications, and market trends shaping Energy Insurance. Geographically, North America and Europe show steady growth attributed to governmental initiatives and heightened consumer awareness, while Asia-Pacific, especially China, leads globally due to strong domestic demand, supportive policies, and a robust manufacturing foundation. This comprehensive report provides a holistic understanding of the Energy Insurance market, examining industry dynamics, trends, challenges, and opportunities, offering detailed insights into individual components and stakeholders. 𝗧𝗼 𝗞𝗻𝗼𝘄 𝗙𝘂𝘁𝘂𝗿𝗲 𝗦𝗶𝘇𝗲 𝗮𝗻𝗱 𝗗𝗲𝗺𝗮𝗻𝗱 𝗼𝗳 𝗘𝗻𝗲𝗿𝗴𝘆 𝗜𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲 𝗠𝗮𝗿𝗸𝗲𝘁. 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗳𝗼𝗿 𝗥𝗲𝗽𝗼𝗿𝘁 𝗦𝗮𝗺𝗽𝗹𝗲 𝗣𝗗𝗙: https://lnkd.in/dS6-pzvt *𝗕𝘆 𝗧𝘆𝗽𝗲: Onshore Energy Insurance, Offshore Energy Insurance *𝗕𝘆 𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻: Physical Damage, Construction Risks, Third Party Liability, Others *𝗕𝘆 𝗥𝗲𝗴𝗶𝗼𝗻: North America, Europe, Asia-Pacific, South America, Middle East & Africa *𝗕𝘆 𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀: Chubb, AIG, AXA, Allied World, Liberty Mutual Insurance, Oman Insurance Company, Zurich Insurance, Axis Insurance, Arch Insurance Group Inc., Allianz, SCOR, Aon, Markel, Unison Insurance Company, Helvetia Insurance Switzerland #EnergyInsurance #InsuranceIndustry #RiskManagement #EnergyRisk #InsuranceTrends #InsuranceMarket #EnergySector #Underwriting #InsuranceCoverage #InsurTech #RenewableEnergyInsurance #RiskMitigation #InsuranceSolutions #EnergyUnderwriters #ClaimsManagement