CFC, an insurance provider specialising in emerging and cyber risks, has expanded its transaction liability practice with the creation of a dedicated team focused on underwriting representations and warranties insurance in the renewable energy market.
“The energy landscape is rapidly transforming as governments, public and private sectors increasingly seek to invest in renewable energy as they navigate the energy transition and support moves towards net zero. 2023 saw a remarkable $559bn of deals undertaken in the renewable sector,” said Gus Marshall, Head of Transaction Liability at CFC.
He continued: “This has led to a significant uptick in the amount of deals that we’re managing in this space and given the unique risks associated with renewable energy projects, we have invested in a dedicated team to support our ever growing number of clients investing in renewable projects.”
Simon Wood, who joined CFC’s transaction liability practice over a year ago, will lead the new team.
Wood is joined by Aline Brayner, a qualified lawyer with significant expertise in providing strategic counsel for large and complex energy projects focusing on renewable energy technologies.
CFC’s energy and renewables underwriting team will focus on developing tailored coverage which addresses the specific transaction risks associated with renewable energy projects.
These projects include offtake agreements and environmental liabilities, and will work closely with CFC’s recently established specialist tax practice to address issues such as investment tax credits.
“This latest initiative in our transaction liability proposition underscores our commitment not only to drive innovation in this rapidly developing area of the insurance market, but more importantly to provide our clients with the specialist support they need in these highly complex deals,” Marshall added.
