Reinsurance News
solar
VDE Americas & kWh Analytics partner to increase hail resiliency for solar assets
28th April 2025
VDE Americas, a provider of technical advisory and risk mitigation for the solar power industry, has partnered with climate insurance provider kWh Analytics to launch a new assessment form that evaluates solar site hail vulnerability and protective measures. The insurance industry has been driven to adopt resilience measures due to the ... Read the full article
SCOR backs major renewable energy project developed by Terra-Gen
25th February 2025
French reinsurer SCOR backs the Edwards Sanborn Solar and Battery Storage Project in Kern County, California, developed by Terra-Gen, underscoring its commitment to renewable energy and a sustainable future. Construction of the Edwards Sanborn solar facility, covering over 4,600 acres, began in 2020. Its initial phases became operational in 2022 and ... Read the full article
Increase in hail storms can lead to “very underinsured” solar infrastructure in Europe: Chaucer
10th September 2024
The number of hailstorms in Europe has more than doubled in the past year, increasing the costs for solar infrastructure and underinsured, according to a recent report by specialty re/insurance group Chaucer. Hailstorms are the largest natural hazard to solar farms. Last year (year-ending June 30, 2024) the number of hailstorms ... Read the full article
NER, Erthos & CAC Specialty to place insurance-backed warranty for Earth Mount Solar
6th September 2024
Specialist managing general underwriter, New Energy Risk (NER), a wholly owned division of Paragon Insurance Group, and CAC Specialty, an insurance broker have partnered with Erthos, a large-scale renewable energy technology company to develop an insurance-backed warranty product for their Earth Mount Solar technology. After extensive due diligence, NER confirmed the ... Read the full article
US insured losses from a modern-day Carrington Event could reach $433bn, says WTW
22nd July 2024
If a solar storm similar to the "Carrington Event" were to occur today, US insurance industry losses could range anywhere between $71 billion to $433 billion, according to global insurance broker WTW. The Carrington Event, the most powerful solar storm in recorded history, took place on September 1 and 2, 1859. ... Read the full article
AXIS reports climate change driving energy transition amid rising risks
17th June 2024
AXIS Capital Holdings Limited, a specialty insurance company, has released a new report titled "Navigating Risk in the Energy Transition", based on independent research which examines how various risks, including climate change, economic uncertainty, and investor hesitancy around tech innovation, are impacting the energy sector’s transition. Climate change is a significant ... Read the full article
Bloomberg Intelligence warns insurers of black swan risk from solar space storms
5th June 2024
Bloomberg Intelligence, a research division of the financial media company Bloomberg LP, warns that major space storms could surpass the financial impact of events like Hurricane Katrina, with disruptions to radio communications, power grids, spacecraft, and satellite navigation, as the current solar cycle peaks in 2025. On May 10, the space ... Read the full article
Aviva & Howden team up to insure solar subscription service start-up
4th March 2024
Aviva, an insurance and financial services company, has partnered up with Howden to provide bespoke insurance to Sunsave, a start-up which offers homeowners solar panels on a subscription service. From what we understand, the insurer and broker worked together with Sunsave to create a bespoke construction and operation cover policy for ... Read the full article
Solar industry faces hailstorm threat, GCube urges immediate action with innovative solutions
8th December 2023
In a recent report titled "Hail No! Defending Solar from nature’s cold assault," GCube Insurance underscores the urgent need for practical solutions to the growing threat of hailstorms on the solar industry. With climate change-induced hailstorms on the rise, the insurance market and the future viability of solar projects are facing ... Read the full article
Extreme weather among the top risks for the solar industry: kWh Analytics
21st June 2023
kWh Analytics, a provider of climate insurance for zero carbon assets, has revealed the top 12 issues within extreme weather, financial modelling, and operational risks for the solar industry. The 2023 Solar Risk Assessment Report highlights the need for robust strategies to ensure solar asset resilience, especially in extreme weather conditions. Within ... Read the full article
Swiss Re launches new Centre of Competence for Renewable Energy
31st May 2023
Global reinsurer Swiss Re has today launched a new Centre of Competence for Renewable Energy, bringing together the giant reinsurance balance-sheet of the firm with focused expertise to deliver products to help clients manage their renewable energy portfolios. Swiss Re's new Centre of Competence for Renewable Energy will be run by ... Read the full article
kWh partners with Pivot Energy to provide solar revenue put production insurance
9th March 2023
Solar risk management provider kWh Analytics has announced a partnership with Pivot Energy, LLC, to provide solar revenue put production insurance for multiple distributed solar projects totaling 70 MW across six states. The solar revenue put was added post financial close to improve leverage from lenders Silicon Valley Bank, Cadence Bank, ... Read the full article
kWh provides solar revenue put for solar investment deal
22nd February 2023
Solar risk management provider kWh Analytics has announced that it will provide insurance support for a solar investment deal between Arava Power, Paz Oil and Menora via a solar revenue put. The insurance arrangement will seek to optimize debt terms on a 270MWdc utility-scale solar project in Uvalde County, TX. The solar ... Read the full article
Invictus looks at insurance wrap for Sun Pacific solar plant
24th October 2022
Insurance and risk management consultancy Invictus Risk Solutions has been engaged by green energy company Sun Pacific to assess the opportunity for providing an insurance wrap for a $50 million funding of the company’s US-based solar manufacturing plant. If deemed feasible , the deal would be sourced through Lloyds of London, ... Read the full article
“Sharp rise” being seen in solar farm fires: Firetrace International
11th August 2022
A recent study by Firetrace International, a leading provider of fire suppression technology, indicates that solar farm fires are seeing a sharp rise. The report, titled “Hidden Danger - why solar farm fire risk could be greater than you think,” highlights that the industry could possibly be misjudging the threat of ... Read the full article
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