An expert view from RSA
The risk and opportunities of a changing climate are of critical importance to our business and we have to respond to changing environmental conditions.
By 2030 the world’s energy demands are expected to increase by 50%.Renewable Energy is therefore set to play an increasing role in meeting these needs.
The MENA region in general gained speed in renewable over the past 12 to 18 months with the Middle East tripled renewable energy investment last year despite fewer energy dollars being spent globally. This region is considered as a hot spot for green investment.
Like many businesses, we believe renewable energy has an important role to play in decarbonizing the energy market and achieving internationally-agreed targets.
As one of the leading insurers in the renewable energy industry, we are with customers operating in a highly complex, constantly changing and strictly regulated world.
We provide specialist insurance solutions since the advent of the industry in the 1970s. We are still innovating today and insure complex risks on a global scale.
With the largest number of Renewable Energy insurance experts in the world, we have Centres of Excellence specializing in a number of technologies, including:
- Wind energy – Onshore and Offshore
- Solar energy – Photovoltaics, Concentrated and Thermal installations
- Bio energy – Biomass, Biogas and Biofuel
- Wave and Tidal energy.
Our products cover:
- Transit – Marine Transit and Marine Delay in Start-up
- Construction – Contract Works, Advanced Loss of Profits and Liability covers
- Operations – Property All Risks, including Machinery, Breakdown, Business Interruption and Liability covers.
We will continue to collaborate with customers and brokers to raise awareness of our changing climate. Through our products and services, we will support customers to reduce their own carbon contribution.
Delivering a multinational insurance solution can appear challenging for our customers; but we make it simple.