The Lloyd’s insurer is partnering with insurtech Altelium to offer the solution
MS Amlin Underwriting Limited has partnered with Altelium to launch a battery energy storage system (BESS) construction all risk and operational all risk insurance solution.
Altelium is a specialist insurtech business which offers insurance for batteries, underpinned by real-time AI-powered data analytics. The arrangement is designed to help solve BESS customers’ insurance needs and accelerate the growth of renewable energy and battery storage systems.
As the battery energy storage market continues to grow rapidly, the planning and development time between concept, construction and operation is reducing.
Companies involved in battery storage are therefore challenged to secure insurance which can be both customised to their needs and completed on time.
Julian Samuel, Head of Natural Resources, MS AUL, commented: “We’ve partnered with Altelium, a specialist in this sector, because of their deep technical knowledge and expertise within the battery market.”