Amwins Global Risks, the specialist wholesale insurance broking business of Amwins, has expanded its specialist natural catastrophe facility for renewable energy projects, increasing available capacity to USD $50 million per placement while extending both the range of covered perils and its global availability.
The company said the facility was initially introduced to provide additional Severe Convective Storm (SCS) protection for renewable energy developments in the United States.
Following the expansion, it now offers excess catastrophe protection against earthquake, flood, wildfire, windstorm and other major natural catastrophe risks for renewable energy assets and associated transmission infrastructure worldwide.
Harry Downes, Director at Amwins Global Risks, commented: “Renewable energy projects are becoming larger, more valuable and increasingly exposed to a broader range of natural catastrophe risks. While Severe Convective Storm remains a significant concern in the United States, we’re seeing growing demand for additional protection against wildfire, flood, earthquake and windstorm across other regions. Expanding the facility allows us to provide clients with greater flexibility and higher catastrophe limits wherever those exposures exist.”
The facility is designed to sit above primary property and construction insurance programmes, providing additional catastrophe capacity to help renewable energy developers and investors address the gap between available market capacity and the full value of increasingly large and complex projects.
The company said the expansion also reflects evolving purchasing trends within the renewable energy insurance market. With property insurance rates continuing to soften, many project owners are redirecting premium savings towards securing higher catastrophe limits, while lenders and investors continue to prioritise stronger protection for high-value infrastructure.
Downes continued: “Primary insurers continue to provide substantial catastrophe capacity, but there can still be a meaningful difference between available cover and a project’s total exposure. This facility helps clients close that gap and build greater resilience into their insurance programmes.”
Amwins Global Risks added that the enhanced facility is part of its ongoing investment in specialist insurance solutions for the global renewable energy market and is available through the company’s Energy, Power & Infrastructure practice.
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