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The Green Energy Insurance Market

With high consumer demand for clean energy and plenty of government incentives available to assist green energy companies, the number of Canadian businesses playing in this space is growing daily. Insurance markets have been quick to respond with a suite of unique coverage and risk management tools tailored specifically to help protect clean energy producers in the wind, solar and co-generation sectors. Traditional manufacturers who are going green are also benefiting. What was once a largely misunderstood exposure for most insurers has now seen the marketplace bring in specially trained underwriters and loss control experts who are not only comfortable with green energy risks but are also very willing to advise their clients on best practices to mitigate risk, reduce losses and help keep insurance premiums reasonable. How exactly can these experts help?

Let ‘em In!

There was a day when businesses dreaded the “insurance inspector’s” on-site visit. But today these specially trained Loss Control Experts play an important advisory role in the renewable energy sector. Depending on your needs they can advise on a myriad of things including best practices regarding equipment maintenance, safety practices and even insights on how to minimize downtime during a business interruption scenario. Many insurers now also include online client risk management webinars where you can choose from dozens of topics specific to your business operation. Some insurers will offer policy premium discounts to their customers who complete the online sessions.

Tailored Coverage for Your Green Business

Renewable energy businesses are exposed to a unique set of risks including product delivery, contractual liability transfers, and worker safety. Other challenges include high property and equipment values and liability limits along with terrorism and cyber threat exposures. The right insurance broker will have the experience and a comfort level to ensure that the coverage they secure are appropriate and broad and that the premium charged is fair.

Renewable Energy Claims Knowledge

Your insurance broker should also ensure that any insurer they recommend has a high satisfaction level when it comes to their claims service. You might get a great “deal” and save some premium but if the insurer has terrible claims service that prevents your business from recovering quickly after a loss, the short term premium savings aren’t worth it.


With plenty of insurer competition, the combination of price, product and service has never been better for your green business.

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