Chubb recently launched a new insurance package for biogas and solar plants, projects and facilities in the UK and Ireland. Its evolution was shaped by feedback from clients and brokers, and it provides an example of how the integrated company is bringing together specialist skills from different teams in package, clean tech and environmental risk to the benefit of the market.
Chubb hopes its biogas and solar package will play an important part in helping companies manage the risks associated with changes in the energy mix. It provides cover for all risks during the construction phase of anaerobic digestion (AD) and photovoltaic solar facilities in the UK and Ireland. It also includes more than £1 million of project/total insured value, as well as first year operational cover with an option for two years’ cover.
Chubb hopes its biogas and solar package will play an important part in helping companies manage their risks associated with changes in the energy mix. It provides cover for all risks during the construction phase of anaerobic digestion (AD) and photovoltaic solar facilities. It provides seamless first year operational cover, with an additional option for two years and Chubb’s target appetite is any project with a total insured value in excess of £1m.
Other key features include:
- Seamless first-year operational All Risks cover, including machinery breakdown and business interruption or loss of profits
- Delay in start-up/advance loss of profit for principal/ owner and other interested financial institutions and lenders
- Excess casualty during the construction phase
- Bespoke primary liability cover in respect of the operational phase of the project
- Environmental liability cover including first party business interruption coverage upon completion and operation of a facility; biodiversity damage provided as standard; and the pollution definition includes odour and crisis containment costs.
Meet Helen Troman
Helen Troman is head of cleantech for Chubb Overseas General Insurance and is behind the launch of the new product.
“The biogas and solar sectors hold huge promise in the UK and globally”, she says. “They have the potential to change the way we produce and consume energy in a fundamental way. To do that, the sector needs the confidence that only tailored, comprehensive insurance cover can provide.”
“Chubb, with its long experience in construction and engineering, is particularly well placed to cover the needs of the cleantech sector with propositions that combine market-leading cover with added-value risk engineering and claims services.”
See Chubb’s Helen Troman talk more about the product in the short video. For questions or more information, email Helen at firstname.lastname@example.org or visit our Biogas and solar package page.