Skyward Specialty Launches Renewable Energy Contractor Coverage
Skyward Specialty Insurance Group, Inc.™ (“Skyward Specialty” or the “Company”), a leader in the specialty property and casualty (P&C) market, announced it has launched a Renewable Energy Contractors coverage within its rapidly expanding Construction and Energy product portfolio. The coverage targets a wide range of contractors specializing in wind and solar energy conversion systems for private and commercial or industrial purposes.
While growth in the renewables sector is at the center of the energy transition, each subsector’s insurance risk needs and profile are unique. Consequently, the standard construction and energy insurance solutions are insufficient to meet the risk management and risk transfer needs of the sector.
“Skyward Specialty is at the forefront of developing insurance solutions to support highly specialized and hard-to-place risks, like the renewable energy market. Today we serve this market across several of our underwriting divisions, including captive solutions for biofuel manufacturing and conversion and recycling centers, surety solutions for the solar industry, and coverage for renewable energy sources in our global property division,” said Kirby Hill, President, Industry Solutions, Captives & Programs. “As a result, we can leverage our expertise and history in the renewables sector to provide focused, specialized coverage to meet the unique risk needs of the industry. By anticipating trends and issues, developing strategies and solutions and applying our best-in-class underwriting solutions, we lower the cost of risk for our clients and their customers.”
Skyward Specialty’s Renewable Energy Contractors coverage will primarily focus on contractors who erect and service land-based metal wind turbines and solar power installations or service work following the same risk characteristics. The 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.”