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Clean Tech
 

 

 

Backed by government policy and growing public support, market for clean technology, renewable or sustainable energy or green technology has expanded. New clean tech businesses have been formed seeking to establish a supply chain that includes manufacturing facilities where it is less expensive to build and operate facilities, and there is a wealth of technical expertise.  Before establishing clean tech facilities, businesses need to be aware of the risks they may face.

Key areas of concern are:

  • Construction and land use practices related to construction exposures and facility protection systems
  • Third party liability practices for product quality and applicable standards
  • Transit damage and consequential delays in project start-up

Manufacturing facilities for clean tech business often have to meet higher standards than other general types of construction. These facilities may require clean room environments, sprinkler systems or other types of specialized protection systems that are not standard for construction outside the home country.

A delay or business interruption at a production plant also could result in violation of contractual obligations.

Manufacturers of clean tech products also have to meet exacting quality assurance procedures to satisfy global specification. It is critical, for instance, for solar cells and wind turbine blades to meet required specifications because any component part that fails could cause a system failure and result in a loss .

Clean tech companies face a wide array of exposures, ranging from traditional property & casualty risks-such as physical assets, overseas suppliers and industrial hygiene-to risks sometimes overlooked like environmental liability, intellectual property and financial injury.

At Chubb we have built a reputation for being fair to our policyholders, innovative in our product offering and flexible in crafting insurance solutions tailored to meet your need. Chubb recognizes that clean tech business is evolving and complex, that's why we have a specialist team of clean tech underwriters who are focused solely on providing the best insurance cover for clean tech companies.

What products do we offer?

  • Liability Package
    • Premises & operations liability
    • Products completed operations liability
    • Professional liability or errors and omissions
    • Product withdrawal expense
  • Excess and umbrella liability
  • Controlled Master Program/Multinational Solutions
  • Property and business income
  • Marine products including project cargo

Who do we Insure?

  • Alternative energy producers (companies that generate or store energy)
  • Service providers
  • Component parts manufacturers

How to apply:

Please complete our Clean Tech Proposal Form and send it with a copy of the following documents to your insurance broker to request a quotation from Chubb.

  • standard and largest sales contracts, agreements, or purchase orders; quality warranty wording.
  • copy of certificates, including but not limited to IEC61730/IEC61215, IEC61646/GB18911, UL, CE, and ISO.
  • your most recent annual report or audited financial statement.

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