Pen Underwriting enters renewable energy market as new proposition launched

Pen Underwriting has launched its new risk-management led insurance proposition tailored to the needs of the waste-to-energy anaerobic digestion (AD) industry, Insurance Times can reveal.

Known as a circular fuel, AD is often referred to as one of the cleanest forms of renewable energy as it converts organic waste to energy while creating other beneficial biproducts.

The MGA’s new suite of insurance covers a range of property and liability exposures faced by AD businesses under one purpose-built policy wording.

The product supports businesses to proactively manage the challenges and risks associated with this fast-growing segment of the renewable energy market.

Adam Shefras, managing director of hazardous goods and environmental industries at Pen Underwriting, said: “Over the past 25 years, the UK biogas industry has transformed itself through technological innovation, market evolution and regulatory change from a niche waste management solution to an industry of scale and bedrock of renewal energy infrastructure.

”And yet there are few insurance markets that specialise in understanding AD and its exposures, resulting in limited choice for brokers and their clients. We’re here to change that, while simultaneously helping AD businesses proactively manage their risks, support their growth and mitigate any losses.”

What does it offer?

In this offering, customers will benefit from 24/7 loss mitigation services through the provision of skilled emergency environmental response teams 365 days a year.

These teams will deliver immediate incident support and use pre-quote surveys to identify hazards, enhance the operational site resilience and minimise disruptions.

It is also designed to support a wide range of AD operations including wastewater treatment plants, animal and farming waste, food and drink production facilities, landfills and recycling facilities.

Sarah Breslin, managing director of commercial in UK and Ireland at Pen Underwriting, added: “This is another great example of Pen’s ongoing investment into extending and diversifying our product offering for the benefit of brokers and their clients.

”By bringing underwriting expertise and greater market choice into important but underserved sectors like AD, we are also helping support UK industries with significant growth potential and facilitating the nation’s energy transition into cleaner, more renewable forms.”