New specialist brokerage NARDAC aims to recharge energy markets

New specialist brokerage NARDAC aims to recharge energy markets | Insurance Business

New specialist brokerage NARDAC aims to recharge energy markets

There is a new brokerage ready to bring “energy” to the renewables, power, infrastructure and transport sectors.

NARDAC Insurance Services has launched with the aim of “upending a market of general products and services” with a specialist proposition. Jatin Sharma (pictured above), one of the firm’s co-founding partners, believes the market is long overdue for innovation and creativity noting the IEA Renewable Energy Outlook report, released today, which highlighted that renewable energy markets are at a critical junctive with global investments pivoting towards green infrastructure.

“The wholesale insurance market is long overdue for some higher caliber operators, product innovation, and a client-centric, flexible service delivery,” he said. “The COVID-19 pandemic has greatly exacerbated the urgent need for new solutions over the last six months, and, as we push further into this hardening market, it will be the innovators that truly listen to and creatively meet clients’ needs who will ultimately succeed.

“As Governments and institutional investors worldwide look to a post-COVID green recovery, the investment we’ll see in large renewable infrastructure in the coming decades will be of a scale previously unimaginable. It is imperative, therefore, that we ensure that we support this rapid pace of development through robust asset protection, where the vast majority of retail broker advisory, products and supporting capital currently falls woefully short.”

According to a release touting the firm’s launch, it will work with clients to “create solutions to the non-concurrency challenges that often manifest in large and complex infrastructure mega projects.” It also states it will enable clients to navigate their own loan covenant agreements. It will formulate new products for traditional and renewable power generation operators with assets in excess of $1 billion, as well as offshore wind developments across Asia, Europe and the US.

Sharma’s co-founders are Brandon Statton and Bill Kost, with more staff set to join in 2021.