kWh Analytics has expanded its insurance solutions with new surplus coverage for natural catastrophe, through its recognized insurance entity Solar Energy Insurance Services, in particular tackling the growing need for serious convective storm protection in the market for renewable energy content.
This new offer is a supplement to the existing real estate capacity of KWH Analytics, which offers 100% operational and construction cover for assets for solar, wind and battery energy. The surplus layers for natural catastrophe will offer up to $ 20 million in extra capacity, specifically cover damage due to serious convective storms and named windstorms in non-coastal regions.
“Our loss database reveals that Hagel accounts for 73% of the total losses in the solar industry due to damage,” said Jason Kaminsky, CEO of KWH Analytics. “As renewable projects grow in size and investors and lenders from the tax department, higher insurance limits require a critical market gap with this specialized surplus low solution.”
A cornerstone of the KWH Analytics approach is rewarding the resilience through the insurance process. Projects that implement protective measures, such as hail reinforcement capacities, reinforced module properties, including glass thickness and the correct O&M protocols will benefit in the surplus layer, just like in primary coverage.
“Resilience must be rewarded at any level of coverage,” said Isaac McLean, Chief Underwriting Officer at KWH Analytics. “Our surplus natural catastrophe supply evaluates the same resilience factors that we consider in the primary coverage, and we ask for assets and sponsors to provide us with details about their paving strategies, so that we can credit their risk limit in an appropriate way.”
To offer a standardized framework for evaluating hail feathering and offering insurance credit for protective measures, KWH Analytics and VDE Americas have developed De Hail Stow and Risk Evaluation Tool. This assessment investigates critical factors, including panel specifications, tracker -storage corners, prediction systems and test protocols. Projects that demonstrate robust strategies for hail defense through this evaluation can secure more favorable terms, even in the surplus layer.
News item from KWH Analytics
