A new underwriting operation is targeting the increased appetite for all things green by tackling the renewable energy market.
GCube Underwriting and GCube Underwriting Services will globally underwrite any renewable initiative up to £600m for a single project on or offshore.
GCube said this would make it the largest provider of renewable insurance capacity in the world.
Regulated by the FSA, GCube will be based in London and Newport Beach, California, US, with plans to open offices in America’s Mid-West and on the East Coast. It will provide specialist insuring capabilities in six renewable energy sectors – wind power, biofuels, hydroelectric power, solar power, wave and tidal energy. It will also offer comprehensive “cradle to grave” cover throughout a project lifecycle.
The specialist cover will include transit, construction and operational risks, right through to business interruption and general liability.