General Insurance Article - WTW Renewable Energy Market Review post COP26


The accelerating growth of the renewable energy sector continues as companies are looking to transition to a low carbon environment. The speed of growth is also creating significant demand for building resilience against climate change, according to WTW at the launch of its annual Renewable Energy Market Review.

 The report also outlines how the renewables insurance market is stabilizing with low to mid single-digit price increases expected in 2022. Some of the key challenges besetting the renewables insurance market include aged assets, operation & maintenance and spares, natural catastrophe risk, contractor experience, lender obligations, the pace of technological change and COVID-19 related supply chain interruption risks.

 Graham Knight, Head of Global Natural Resources, WTW, said: “The renewable energy industry is transforming at a speed which can be difficult to track. This can be seen in the record growth in solar PV and wind capacity additions - beating the previous year’s record - as well as the increasing interest from insurers in offshore wind and hydrogen, where synergies in environment and technology strategies are available. This creates an incredibly complex and fast evolving environment for the sector, so it is essential that organisations understand how to manage not only the speed of growth but also the emerging risks that arise, such as supply chain issues. At WTW, we are helping renewable energy companies navigate this complex risk terrain by providing innovative solutions which can help mitigate risk in this fast-growing sector.”

  Renewable Energy Market Review.

Back to Index


Similar News to this Story

Sleighing the risks by giving Santa the insurance he needs
While you might be the most magical employer in the world, we know that even you aren’t immune to the risks of running a global delivery service! From
Diversity improving in insurance and long term savings
Key figures from the Association of British Insurers’ latest Diversity, Equity and Inclusion (DEI) data collection highlight the work of insurers and
Almost a third of homeowners have been victims of burglaries
Research commissioned by Co-op Insurance reveals that almost one in three (29%) homeowners have been the victims of theft from their home. The member-

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.