Reinsurance News

battery energy

GCube unveils $100m Lloyd’s consortium to support BESS sector

16th July 2024

GCube Insurance, an underwriter for renewable energy products, has launched a new consortium, comprised of six Lloyd's syndicates, in a move that is set to provide battery energy storage system (BESS) developers and asset owners worldwide with up to US $100 million of 'A-rated' insurance capacity. It's important to highlight, that ... Read the full article

Munich Re to reinsure battery manufacturer Hithium

26th October 2023

Global reinsurance giant Munich Re has agreed to provide warranty reinsurance for battery manufacturer, Hithium, energy storage systems (ESS). The reinsurer will cover both product and performance warranties. The agreement will thus reduce ESS project owners’ risk as well as Hithium’s, providing system owners with coverage even in case of a ... Read the full article

Aon warns BESS operators to boost resilience against emerging cyber threats

25th April 2023

Aon, a global professional services firm, has urged asset owners and operators in the battery energy storage system (BESS) market to enhance their cyber resilience against emerging cyber threats, identifying operational technologies used in BESS control systems as an 'invisible' point of vulnerability. As the energy grid digitalises, cyber attacks are ... Read the full article

MS AUL partners with Altelium on BESS insurance solution

25th May 2022

Lloyd’s global specialty re/insurer MS Amlin Underwriting (MS AUL) has announced a partnership with specialist insurtech, Altelium, to launch a client-centric battery energy storage system (BESS) construction all risk and operational all risk insurance solution, as part of its commitment to supporting sustainability. Altelium is a specialist insurtech business which offers ... Read the full article

TMK partners with Altelium on battery energy storage warranty

17th May 2022

Tokio Marine Kiln (TMK) has partnered with Insurtech Altelium to deliver the worlds first data-driven battery energy storage system (BESS) warranty programme to help accelerate growth in the battery energy storage market. BESS technology plays a key role in ensuring homes and businesses can be powered by green energy. It is ... Read the full article