Solar Power is the
Fastest-Growing Source of
Renewable Energy in America
Articles & Insights
Why Agents and Brokers Should Embrace Renewable Energy Clients
The number of companies that manufacture, install and buy renewable energy technologies — from solar panels to wind turbines to hydrogen fuel cells — has risen substantially in recent years. The increasing use of renewables presents a significant opportunity for insurance agents and brokers because many renewable energy equipment manufacturers and their customers are currently underserved in the marketplace.
Fuel Cells: A Clean, Efficient Source of Energy
As countries around the world seek to reduce their carbon footprint, fuel cells are coming to the forefront as a clean energy alternative. Fuel cells are a highly efficient and reliable means of producing electricity – with low to no emissions and many other advantages over conventional power sources.
Fuel Cells: New Technology Brings Emerging Risks
Fuel cells are generally powered by hydrogen, the lightest, most abundant element on earth – and a highly flammable one. Hydrogen is the biggest hazard associated with fuel cells, but scientists say all combustible fuels have inherent risks and hydrogen is actually no more dangerous than gasoline. We’re just unfamiliar with using it as fuel.
Comprehensive Coverage & Service Solutions
Your business works to protect the environment using or generating clean, renewable energy, or providing the equipment and service for companies that do. Whether you are a solar power start-up or a fuel cell Fortune 1000 company, our dedicated underwriting specialists can customize insurance solutions for your unique business needs, from property and general liability, workers' compensation and auto, to installation, builders risk, and international travel and sales.
Here's just a sample of the tailored coverages and services we offer:
- Property Coverage. Includes coverage for: general property, power generating property and equipment, industry-specific computer equipment, media and data, utility services interruption, electronic vandalism (damage to data from viruses and other malicious code), for manufacturing, research and power generation operations.
- Marine Coverage. The Hartford has a long history of providing innovative inland and ocean marine products and services to renewable energy companies to help meet specialized property and cargo coverage needs, including Shipper’s Interest, Ocean Cargo ChoiceSM, and Installation coverage.
- Replace Broken Equipment with "Green" Technology. You may use up to 25% of the adjusted loss to replace damaged, covered equipment with “green” equipment that is more efficient or that improves the environment.
- Limits and Protection. You can protect your company from physical damage to solar, wind, fuel cell, and related property and equipment, including offices, laboratories and installation sites. This coverage can also extend to ancillary property such as invertors, substations and other ancillary or remote facilities.
- Comprehensive General Liability. It’s tailored for the entrepreneurial and innovative alternative energy company. We off broad protections, covering you for bodily injury, property damage, personal & advertising injury from your work, the existence hazards of energy generating premises, your contracted service and work, as well as other operations.
- Pay-As-You-Go Workers' Compensation. We help you manage your cash flow and mitigate audit surprises by basing your premium payments on actual, not estimated, payroll — one pay period at a time. This flexibility can be critical to businesses that are experiencing staffing changes.
- @venture® Risk Management. Available to eligible¹ renewable energy companies, this system helps you assign risk-management resources based on your needs and priorities. Our Risk Engineers specialize in this area, providing inspections and recommendations for safe operations, hazard controls, and other tools which protect your investment and your employees.
- Professional Liability, Cyber Liability & First Party Data Privacy Expense. Our FailSafe® product suite is available for professional liability exposures for software development and consultancy risks including the capability to address both third-party privacy liability, as well as first-party expenses related to a data privacy breach. Further, The Hartford also offers Manufacturers Errors & Omissions liability for wholesaler and distributors, service providers and manufacturers of equipment and durable goods within the renewable energy industry.
Leader In Sustainability
We’re not only in the market to insure businesses that develop renewable energy. We’re also consumers of renewable energy. An eco-friendly insurance company, The Hartford has also been recognized for our leadership in sustainability:
- Climate Leadership Awards 2015 Excellence in GHG Management (Goal Setting) Certificate Recipient
- Climate Leadership Award, U.S. EPA, (2014-2015)
- Carbon Performance Leadership Index, Carbon Disclosure Project, (2008-2014)
- Dow Jones Sustainability Index Member (2014- 2015)
All coverages and services may not be available for all businesses or in all states. For details on what coverages and services are available to you, contact your agent at The Hartford today.
¹Generally accounts over $250,000 in premium.
This site outlines in general terms the coverages and services that may be afforded under a Hartford policy. All policies must be examined carefully to determine suitability for your needs and to identify any exclusions, limitations or any other terms and conditions that may specifically affect coverage. In the event of a conflict, the terms and conditions of the policy prevail. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc.
Alternative Energy in Business Models