FM Global has launched a renewable energy proposition aimed at aiding clients in the shift towards alternative energy sources. The announcement was made during the commercial property insurer’s participation in the RISKWORLD conference held in San Diego.
The new unit, which will introduce a renewable energy insurance product later in the year, is led by the following FM Global colleagues:
In response to growing demands from clients and brokers to expedite new energy initiatives, FM Global’s new division will concentrate on research, the development of standards, and loss-prevention engineering. This focus will target utility-scale ground-mounted solar, onshore wind power, and battery energy storage systems.
With a history extending over seven decades in supporting power generators across a spectrum of energy sectors including hydropower, biomass, and waste-to-energy, FM Global is expanding its expertise further with the newly formed unit.
“The renewable energy landscape is complex and rapidly developing, and losses can be costly,” Patterson said. “We are investing in state-of-the-art solutions, services, and industry expertise to help our clients succeed in the changing landscape. We want to help our clients future-proof their energy needs and support the overall industry as it evolves and grows.”
Starting in July, FM Global will offer a new policy specifically tailored for renewable energy operations in the US. Following this, next year will see the introduction of a renewable energy construction policy designed to assist clients from the design and build phase through to the operation of renewable energy assets.
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