Skyward Specialty Launches Insurance Coverage for Renewable Contractors
Texas-based Skyward Specialty Insurance Group, a leader in the specialty property and casualty (P&C) market, announced that the company has launched a Renewable Energy Contractors coverage within its rapidly expanding Construction and Energy product portfolio.
May 20, 2022. By News Bureau
The coverage targets a wide range of contractors specializing in wind and solar energy conversion systems for private and commercial or industrial purposes.
With growth in the renewables sector at the center of the energy transition, each subsector's insurance risk needs and profile are different from the other.
As a consequence of the same, the standard construction and energy insurance solutions are not enough to meet the risk management and risk transfer needs of the sector.
The company's Renewable Energy Contractors coverage will essentially focus on contractors who establish and service land-based metal wind turbines and solar power installations or service work following the same risk characteristics.
The insurance coverage will include general liability, property, primary commercial automobile, and excess liability.
"As renewable energy technologies, distribution practices and business models progress, risks continue to increase," said Rick Childs, Senior Vice President, Construction and Oil & Gas. "Our Renewable Energy Contractors coverage helps minimize those risks and conquer crises for renewable energy businesses with customized coverage. In addition, our team is backed by years of expertise and can help companies succeed by developing strategies and solutions to meet the specialized risk challenges of this rapidly evolving industry."
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