CAC Specialty Broker Sara Kane Recognized as a 2023 Renewable Energy Power Broker
Sara Kane, Power & Renewables Leader, CAC Specialty
“Sara is an all-star,” said the head of finance at a company that counts itself lucky to have Sara Kane as its broker. “She has led her team to develop a new approach for forecasting required coverages for renewable energy projects. Provided early enough, those forecasts have allowed our team to make development and design decisions early enough in a project’s life to reduce costs and actual risk exposure once the projects are operational,” the executive said.
A new forecasting method called Cirrus is intended to help renewable energy companies design, build, budget and finance projects more responsibly, with insurability in mind from the earliest stages of development. The forecast takes into account project developers, sponsors and insurers as part of a holistic risk assessment.
For one client, the forecasting method included a flood risk engineering report for a development project. It compared probable maximum loss for 100- and 500-year floods using both a conservative and a traditional design approach. The difference in the 500-year PML between the conservative and traditional design was more than $30 million, and the anticipated insurance premium savings was greater than $700,000.
In another instance, the Cirrus risk and insurability analysis identified very high named-windstorm and inland-flood exposures, with estimated insurance costs of more than $4 million dollars annually for a project under consideration. On this basis, the client opted not to pursue investment in the project.
What is a Power Broker?
A Risk & Insurance Power Broker® is an individual who stands out among their peers for the exceptional client work they have delivered over the past year. While brokers play many key roles in the insurance industry and risk profession, a Power Broker® award recognizes problem solving, customer service and industry knowledge.
Our goal is to broadly recognize and promote outstanding risk management and customer service among the brokerage community.
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Power Brokers are selected by risk managers based on the strength of the testimonials they provide to a team of 15 Risk & Insurance editors and writers.