For cargo transportation companies transitioning their fleets to clean energy sources, there are benefits in publicizing a formal ESG platform — but also risks. Fortunately, insurers are there to help them navigate the way.
We spoke to Alliant’s Molly Lovelette about the many changes affecting green energy — from new technology and increased government investment to the growing menace of climate change — and what advice she has for brokers looking to enter the sector.
When it comes to offshore wind power, several risk and insurance factors should be reviewed, from installation and repair costs to maritime law constraints.
This year, 6 brokers from across the brokerage field were named as the 2023 Traditional Energy Power Broker winners. One additional broker was named as a finalist.
A recent ransomware attack on the Colonial Pipeline left much of the Eastern U.S. in fear of serious fuel shortages. This attack highlights inconsistencies and weakness within the U.S. IoT cyber security capabilities.
After a damaging winter storm in 2011, officials in Texas received recommendations on weatherizing the state’s grid. Those recommendations were not followed, and in 2021, Texans paid a big price.
Insurers pay when wildfires rage and hurricanes thunder in from our oceans. The drive is on for the industry to reduce its support for the fossil fuel use that contributes to climate change.
Mutuals and captives seem to be the insurance approaches that are still providing useful cover to coal-burning power plants. That being said, there is no rush to replace capacity that is leaving the market.
This year, six brokers from across the brokerage field were named as the 2020 Traditional Energy Power Broker winners. Two additional brokers were named as finalists.
If it can be determined that individual companies are responsible for climate change, investors and insurers might want to brace themselves for massive payouts.
A number of commercial insurance carriers have now announced that they will limit their investments and underwriting activities around coal, including Chubb.