The Travelers Companies, Inc., which is already known for its products to help to provide coverage and mitigate risks for clean technology and energy companies, has now launched its Clean Energy & Technology Practice. The company has been providing these types of coverage for over twenty years and its new Practice will provide a new line of insurance products that are streamlined and specifically designed for businesses that offer clean energy and technology. It will help them to obtain coverage while managing their claims and risks. According to the president…
Read MoreTag: green insurance
CalCEF introduces new insurance initiative aimed at growing the alternative energy industry
When it comes to alternative energy, insurance is usually the furthest thing from people’s minds. Insurance, however, may hold the key to the future of renewable fuel, according to the California Clean Energy Foundation (CalCEF). CalCEF has long been a proponent of alternative energy, but both consumers and investors have been slow to warm to the concept of sustainability. While the reasons behind sluggish adoption are numerous, the foundation believes that risk may be a major deterrent to investors. This has led the foundation to propose a suite of private…
Read MoreInsurer partners with the National Wildlife Federation for home and auto insurance discount program
The Hartford has announced that it will be offering partners, members, and supporters of the National Wildlife Federation with access to its home and auto insurance through a special discount program that will be available in the majority of states. Hartford’s president of consumer markets, Andy Napoli, stated that the insurer is pleased to be able to partner with the largest conservation federation in the country, which has now been protecting wildlife for 75 years. He added that The Hartford looks forward to providing members of the National Wildlife Federation…
Read MoreMunich Re and Ping An Insurance to offer products for renewable energy companies
Munich Re and Ping An Insurance from China… have both announced that they will be working together in their first co-operation to create insurance products and services that they can offer to Chinese renewable energy companies. In a joint statement, the insurers said that they hope to develop solutions that will minimize the risk that investors face with renewable energy, so that larger projects of this nature will actually become possible. A spokesperson from Munich Re declined to make a statement regarding whether or not the two companies intend to…
Read MoreEco-friendly construction increases professional liability risks
Insurers and risk managers are facing all new challenges in developing coverage for errors and omissions (E&O) for eco-friendly construction projects, which are similar, but still quite different from the risks associated with typical construction projects. This has lead to new trends and developments which are affecting purchasers for specialty lines of insurance such as E&O, directors and officers (D&O), cyber risk, employment practices liability, transportation, marine, and surplus. The reason for the difference between “green” and standard construction project risks is in the materials and technologies that are used,…
Read More