ACE USA, the U.S.-based retail operations of the ACE Group, has issued a new white paper exploring the insurance and risk management issues facing the renewable energy industry during new project development.
This new report explains the importance of effective and proactive risk management strategies throughout a project lifecycle, the company says.
‘As renewable energy sources continue to play an increasingly significant role in producing sustainable energy for the world's use, our goal is to provide risk management guidance and seamless insurance coverage throughout a project's lifecycle,’ says Darren Small, vice president and underwriting manager at ACE USA National Custom Casualty Energy.
‘This paper addresses the crucial steps in appropriately identifying, managing, controlling and transferring risk, and partnering with experts to manage emerging renewable energy risks right from the planning stage, through construction and into the operational phase,’ he adds.
The paper also provides information on the current growth of renewable and alternative energy sources, including solar, wind and other sources.
The report can be accessed here.