Among the top national and world news headlines is the incredible importance of sustainable energy. Clean Energy News reports that “global installations of new renewable power” set a record in 2021. The Renewables Market Report announced that this type of power will represent about 95% of the capacity worldwide by 2026. This soaring market has spurred many companies in this sector to re-think their commercial policies and re-examine their plans for risk management. With increased shipping and transit charges, supply chain issues, higher commodity rates and skyrocketing prices, small, mid-sized and large firms are searching for innovative ways to bolster their existing programs to safeguard against new potential threats.
Where can these businesses turn for customized renewable energy insurance? The answer is simple: eMaxx. Serving clients nationwide in this arena and in many other vertical sectors, eMaxx is delivering 21st century solutions for 21st century challenges. Its seasoned team of professionals cultivate trusted partnerships because they truly know and understand this specialized market. With state-of-the-art risk management, this tech-enabled industry leader has empowered alternative energy clients with dedicated technology and 24/7 service.
Insurance for renewable energy is not a ‘one-size-fits-all’ approach. Insurers and the insured must work together to predict and plan for many potential losses that are unique to the industry. From catastrophic weather events to equipment failure, equipment defect, changes in material pricing or onsite personnel accidents, this type of policy requires innovative solutions. It also demands careful partnership between insurer and client, which makes the captive arrangement offered by eMaxx so attractive. Helping companies take control of their financial destinies with membership status on governing boards is a huge benefit of the relationship.
Energy insurance coverage with eMaxx offers a multitude of programs. These are warranties that 1) provide savings to building or project owners, 2) cover costs to repair and replace defective products and 3) compensate for reduce output caused by manufacturer’s shortcoming. Target classes are diverse; they include wind, electricity storage, hydro, biomass, biofuel, geothermal, waste to energy and non-traditional power generation.
Of course, no discussion of sustainable power would be complete without solar, which generated more than “$33 billion of private investment” in the U.S. economy last year, according to industry research data. As this market scrambles to keep up with demand, so does its need for solar energy insurance. eMaxx has winning programs in place here, as well, covering contractors and installations with outstanding warranties for systems owners.
For a wide variety of energy insurance that values mutual ownership and planning, the forward-thinking experts at eMaxx provide innovative solutions for 21st century challenges. Contact our team today.