A joint submission from US specialty managing general agent (MGA), kWh Analytics, and specialty re/insurer Aspen – focusing on solar and renewable projects – shone out in the climate and sustainability collaboration award category.
The initiative involved the specialty MGA launching a property insurance product for renewable energy assets in January 2023, with Aspen as the capacity partner. The product provides coverage against physical damage for solar and other renewable projects, and has introduced much-needed capacity to a rapidly growing industry at a time when traditional insurers are tightening their portfolio exposure.