Chubb Climate+, a leading insurance provider, has announced the launch of its latest product, Climate+ Renewables, designed to bolster the growth of renewable and alternative energy projects in the UK. The solution caters to small to medium renewable projects worth up to £50m in contract value, focusing on onshore wind and ground-mounted photovoltaic solar.
Climate+ Renewables represents Chubb Climate+’s first foray into climate tech insurance. The product ensures the continuity of insurance across all phases of renewable energy projects, from construction to operational, providing coverage against the risks involved in implementing such projects.
The UK experienced a record high in renewable energy production in 2022, with 41% of its total energy output generated from wind, solar, and biomass. Chubb Climate+ is excited to be at the forefront of supporting the industry’s growth and contributing to a cleaner, greener future.
Chubb Climate+ is a division of Chubb Limited, a renowned global provider of insurance solutions operating in over 50 countries. The division specializes in developing innovative insurance solutions to help clients manage risks and seize opportunities related to climate change and the transition to a low-carbon economy.