British insurance major Aviva has introduced an integrated package of insurance for large firms operating in the renewable energy sector such as solar power, onshore wind-farms, and battery storage.
Dubbed Aviva Renewable Energy, the insurance offers the company’s renewable energy brokers and their commercial clients a single package of coverage available via one underwriting team.
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Aviva’s renewable energy insurance covers the whole life cycle of construction and operational, marine project cargo, third party liability, and terrorism cover.
Aviva said that the new offering is part of its initiative to support climate change as it is one of the signatory to the Finance Principles of the Powering Past Coal Alliance Finance Principles.
To support its clients, Aviva has established a specialist underwriting team. The team comprises head of renewable energy & engineering Victoria Kent, deputy chief underwriting officer & head of specialty Matthew Gordon, and renewable energy underwriting manager Nick Evans.
Aviva managing director of commercial lines Patrick Tiernan said: “At the start of 2019, Aviva UK exited the standalone operational fossil fuel power market as part of its commitment to help tackle climate change.
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By GlobalData“We are now taking another important step in our commitment by launching a specialist renewable energy proposition providing insurance solutions for the full lifecycle of renewable energy risks worldwide.
“This is a small step in our sustainability journey as a commercial insurer. We are already working with our largest brokers and clients to ensure we can be their partner of choice as the UK economy prepares for carbon neutrality in 2050.”
