Insider Engage, is part of the Delinian Group, Delinian Limited, 8 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2023

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Swiss Re: Sustainable energy starts and runs with insurance

Drone Point View of Solar and Thermal Panels

Para leer este artículo en español, haga clic aquí.

Insurance is essential to economic progress. Without the right coverage, projects, for example a new solar plant, will not be built. And when those projects are good for society as a whole, then insurance is especially important. Swiss Re is excited to contribute to the development of renewable, resilient energy with innovative risk assessment and risk transfer mechanisms.

I recently had the opportunity to discuss our vision for sustainable energy during a panel discussion sponsored by the Clinton Global Initiative (CGI). As governments and private operators invest in wind, solar and other forms of power generation, the risk tolerance of these investments is critical. I shared that at Swiss Re we work to understand the risks and put our capital behind projects to ensure the construction and uninterrupted revenue stream from operation.

We work to mitigate risks throughout the life cycle of a project: from construction through to operation. Our agreements are supported by risk engineering services, where we consult with the project sponsor prior to and during construction to confirm that the steps are being taken to reduce risks to make the project insurable.

Swiss Re works with state-owned companies, governments and multilateral development banks across the region to secure the future of these projects providing indemnification or parametric solutions. In both cases we pay if something 'bad' happens and conditions are met, so the project can get back on track or operations can resume swiftly. Examples where we secure projects include solar energy facilities from Brazil to Puerto Rico. Our parametric agreements include not only wind and earthquake but also protecting the running of hydropower facilities from drought. Across Latin America more than one-fourth of our engineering portfolio is in renewable energy, this share is even higher for the Caribbean.

According to CGI, “a coordinated effort to advance renewable energy is one of the most compelling pathways to support job creation, economic diversification, and climate resilience” in the Caribbean region. We couldn’t agree more and are proud to be a part of it.

More...

  • Airmic: Hard Market Shows Signs of Softening

    The hard insurance market appears to be softening, with Airmic’s latest pulse survey identifying signs of ‘green shoots’ as the pace of rate increases slows
  • Latam Briefing: Argentinian Inflation

    Argentinian insurers have long struggled with inflation, leading to difficulties in maintaining policy limits and premium rates and challenges from government capital controls. How have they overcome these challenges?
  • Managing supply chain risks

    2022's Airmic ERM (Enterprise Risk Management) Forum held in London, provided risk professionals a networking platform to explore trends that are reshaping the enterprise risk management landscape, such as the impact of geopolitical tensions on supply chains as well as the increasing threat of cyber attacks as our world becomes more interconnected.