Specialist insurance provider CFC has expanded its transaction liability practice by forming a new team tasked to underwrite warranty and indemnity insurance specifically for the renewable energy sector.
Gus Marshall (pictured), head of transaction liability at CFC, highlighted the timeliness of the move, saying: “The energy landscape is rapidly transforming as governments, public and private sectors increasingly seek to invest in renewable energy as they navigate the energy transition and support moves towards net zero.
“2023 saw a remarkable US$559 billion of deals undertaken in the renewable sector. This has led to a significant uptick in the amount of deals that we’re managing in this space, and given the unique risks associated with renewable energy projects, we have invested in a dedicated team to support our ever-growing number of clients investing in renewable projects."
Leading the new unit is Simon Wood, who transitioned to CFC more than a year ago from an international law firm. The line-up also includes Aline Brayner, who has extensive experience in providing strategic counsel for large and complex energy projects in the renewable energy technology space.
The energy and renewables underwriting team at CFC will concentrate on crafting customized insurance solutions against distinct transaction risks in renewable energy projects while collaborating closely with the new specialist tax practice that was announced in February.
At the time, Marshall said: “The creation of our own dedicated tax underwriting team further demonstrates our commitment to driving innovation and excellence in the transaction liability insurance space. It means that our clients can benefit from a truly holistic approach to transaction liability risks, accessing a full suite of products from our team of experts.”
Now, with the renewable energy team in place, the transaction liability head highlighted: “This latest initiative in our transaction liability proposition underscores our commitment not only to drive innovation in this rapidly developing area of the insurance market, but more importantly to provide our clients with the specialist support they need in these highly complex deals.”
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