Skyward is offering up to $2 million in general liability limits, $1 million in combined single limit auto insurance and $5 million in excess coverage.
PRODUCT: Renewable Energy Contractor Coverage.
COMPANIES: Skyward Specialty; Imperium Insurance.
BEST RATING: A-
AVAILABILITY: Appointed agents and brokers only.
FOCUS: Skyward Specialty 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 needs are unique. Consequently, the existing standard construction and energy insurance solutions are insufficient to meet the risk management and risk transfer needs of the sector, according to Skyward.
“As renewable energy technologies, distribution practices and business models progress, risks continue to increase," says Rick Childs, senior vice president, construction and oil & gas, Skyward Specialty. “Our Renewable Energy Contractors coverage helps minimize those risks and conquer crises for renewable energy businesses with customized coverage. 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."
COVERAGE DETAILS: Available ISO-based coverages include general liability, auto and excess. A general liability enhancement endorsement is also available. Skyward is offering up to $2 million in general liability limits, $1 million in combined single limit auto insurance and $5 million in excess coverage.
UNDERWRITING: Contractors must have been in business for at least three years and have an installation payroll over $500,000.
TARGET: Contractors who erect or service land-based metal wind turbines, as well as non-residential solar power installations or service work.
COVERAGE AVAILABILITY: All U.S. states except New York and California.
CONTACT: Rick Childs, senior vice president, construction and oil & gas, Skyward Specialty; 800 Gessner Road, Suite 600, Houston, TX 77024; 713-935-4800.
Will Jones is IA editor-in-chief.