Royal & SunAlliance is the first insurer to launch a global renewable energy division, to provide global insurance solutions for the renewable energy market.
Wind Energy is the first product being launched through the new unit. With a target set by the European Union (EU) for 20% of the EU’s total energy supply to come from renewables by 2020, the insurance market for wind energy is expected to be worth more than GBP1 billion by 2015.
Royal & SunAlliance (R&SA) is the first composite insurer to provide one-stop solutions for the wind energy industry. The group has been involved in the renewables sector for over 25 years providing solutions for wind energy, solar, hydro, biomass and waste to energy businesses and projects. The newly established division is being launched to support each of these industries as they evolve, by providing a one-stop insurance solution for clients, backed by R&SA’s specialist market knowledge.
The global renewable energy team will be headed by Ken Norgrove and brings together one of the largest teams of renewable energy insurance experts in the world, combining their specific industry and local market knowledge across R&SA’s global network.
Customers will have access to energy underwriting specialists and loss prevention and control engineers in regional centers of excellence, and cover for every stage of a project, from development and planning, to site testing and construction, through to ongoing operation and access to a global network of over 130 countries where the group currently offer insurance solutions.
The company is one of the few insurers to offer both onshore and offshore cover and is the largest insurer of wind turbines in Scandinavia, as well as having the fastest growing wind energy insurance offering in the Canadian market.