Allianz UK expands renewable energy appetite

Allianz UK has enhanced its renewable energy insurance proposition and introduced new operational wording designed to simplify cover for customers using multiple technologies at the same site.

The insurer’s renewable energy select proposition brings renewable energy and grid-stabilisation technologies together under a single operational policy, reducing the need for brokers to arrange separate wordings as projects develop.

Cover is available for onshore wind, ground-mounted solar, hydro, biomass and anaerobic digestion, alongside battery energy storage systems and slow reserve.

Growing complexity

Allianz said the changes come as the UK renewable energy market continues to expand and projects become increasingly complex.

The proposition combines insurance with specialist underwriting, engineering inspection, technical guidance and risk prevention services.

Brokers can also access support across both construction and operational phases, with construction all risks remaining part of the insurer’s wider renewable energy offering.

The UK team can draw on Allianz’s renewable energy expertise across more than 70 countries, alongside its specialist and large corporate capabilities.

Karen Boothroyd, head of construction, engineering and energy for UK markets at Allianz UK, said: “The UK’s transition to renewable energy brings significant opportunities, but the risks are changing too.

”Different technologies carry different risks during construction, and operation, including disruption to the business. Connections between equipment, supply chains and grid infrastructure also mean problems in one area can have wider consequences.

“Our aim is to make it easier for brokers to arrange cover as their customers’ projects develop. By bringing together insurance, engineering inspection expertise and practical risk prevention support we can help owners and operators understand those risks, prevent losses and keep their assets operating reliably.”