RB Jones, a managing general underwriter of specialty risk coverage for brokers, agents and wholesalers, has announced the launch of its exclusive Solar Commercial Insurance Program (SCIP).
Over the past decade, the solar energy market has posted an average annual growth rate of 33%, according to data from the Solar Energy Industries Association. Falling costs, expanded storage capabilities and tax incentives have spurred the increase in demand and usage.
“Partnering with a company that has renewable expertise for commercial solar opportunities allows RB Jones to support owners and operators of small to mid-sized commercial operations, such as schools, parking structures and boutique hotels,” said Brad Nehring, director of energy at RB Jones. “This clean energy solution also provides much-needed coverage options for developers, independent power producers and small utility companies.”
Read next: RB Jones acquires ocean cargo business
SCIP offers coverage at each stage of the renewable energy lifecycle, from site preparation and transportation to installation, operation and decommissioning, RB Jones said. Energy coverage options in the program include utility ground mount, rooftop commercial, community solar, carports, and battery energy storage systems that are ancillary to a solar project. The program can be customized for individual projects and large-scale portfolios, and can be offered as a package or a standalone product. The coverage limits are up to $10 million for property and up to $5 million for umbrella.
“We continue to explore growth opportunities that further establish RB Jones’ capabilities and reputation as a preferred partner, especially those that bring relevant, impactful solutions,” said Mark Engel, managing director at RB Jones. “By pursuing this exclusive Commercial Star program, we are able to underwrite and add another much-needed product to our growing portfolio of specialty insurance solutions.”
