Tag: renewable energy

Catastrophe Losses in 2024: A Challenging Year for the Insurance Industry

Elizabeth Price
Challenging Year for the Insurance Industry

2024’s Insurance Industry Turmoil: State Farm and Others Navigate the Aftermath of Hurricanes Debby and Beryl The year 2024 has proven to be a tumultuous period for the insurance industry, with back-to-back natural disasters resulting in substantial financial losses for major insurers. Hurricanes Debby and Beryl have left a trail of destruction across multiple states, posing significant challenges for companies like State Farm and Allstate as they navigate the aftermath. Hurricane Debby made landfall as a Category 1 hurricane in Florida’s Big Bend region on August 5, 2024. With maximum…

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Marsh offers tax insurance to support American clean energy investing

Logan B.
Tax insurance - Clean energy investing

Marsh has announced its new solution to help boost available capital for investing Marsh recently announced the launch of its new tax insurance solution that it is calling its Tax Investment Default Insurance.  It is a new solution created to boost available capital for investments into federal tax credits associated with renewable energy projects in the United States. The new solution is meant to promote renewable energy investments As the Inflation Reduction Act of 2022 increasingly supports efforts such as clean energy and a hydrogen economy in the United States,…

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Can Insurance Companies Help Fight Global Warming with Incentives?

Logan B.
Insurance Companies - Global Warming Incentives

In an era when climate change poses significant risks, the role of insurance companies is becoming increasingly dynamic. With natural disasters on the rise, leading to soaring claims and heightened premiums, there is burgeoning interest in incentives that promote environmental sustainability. Notably, some insurance providers are strategically mitigating risk while advocating for greener choices by offering discounts and incentives that encourage consumers to adopt eco-friendly practices. Innovative Incentives by Insurance Companies for Environmental Sustainability Mercury Insurance stands at the forefront of promoting environmental responsibility, offering a Green Home discount up…

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Does Commercial Insurance Cover Damage to Solar Panels? A Comprehensive Guide

Guest Author
commercial insurance and solar panel coverage

With the growing popularity of solar energy, more and more businesses are making the switch to solar panels. This eco-friendly and cost-effective energy source offers numerous benefits, including reduced energy bills and a smaller carbon footprint. However, like any investment, solar panels are not without their risks. One of the most important considerations for any business owner with commercial solar PV panels is their insurance coverage. In this guide, we will explore the crucial question: does commercial insurance cover damage to solar panels? We’ll delve into the complexities of insurance…

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State Farm will power Illinois corporate facilities with renewable energy

Julie Campbell
State Farm - Renewable Energy

The insurer has signed an agreement with Constellation to purchase the green electricity. Insurance company State Farm recently announced that they have signed a new agreement with one of the leading power and natural gas suppliers in the United States, Constellation, to power the Illinois corporate facilities with renewable energy. The energy strategy is a component of the insurance company’s broader decarbonization effort. State Farm has been making a number of environmental impact commitments lately, and this renewable energy agreement is among the latest steps it has taken. The agreement…

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