Aviva reveals specialized renewable energy insurance

Aviva reveals specialized renewable energy insurance | Insurance Business

Aviva reveals specialized renewable energy insurance

Aviva, the first global insurer to become carbon-neutral in 2006, has introduced a new insurance package especially designed for global renewable energy brokers and their commercial clients.

Called “Aviva Renewable Energy,” the product spans coverage for marine project cargo, construction and operational, third-party liability, and terrorism.

The insurer said the offering signals Aviva’s recognition of the specific needs of the growing market as well as the important role played by renewable energy in the fight against climate change.

“At the start of 2019, Aviva UK exited the standalone operational fossil fuel power market as part of its commitment to help tackle climate change,” noted commercial lines managing director Patrick Tiernan.

“We are now taking another important step in our commitment by launching a specialist renewable energy proposition providing insurance solutions for the full lifecycle of renewable energy risks worldwide.”

Tiernan added: “This is a small step in our sustainability journey as a commercial insurer. We are already working with our largest brokers and clients to ensure we can be their partner of choice as the UK economy prepares for carbon neutrality in 2050.”

Meanwhile Aviva has been establishing a specialist underwriting team comprising the likes of deputy chief underwriting officer & head of speciality Matthew Gordon, head of renewable energy & engineering Victoria Kent, and renewable energy underwriting manager Nick Evans.