kWh Analytics, a climate insurer and risk manager for renewable energy projects, through its licensed insurance entity, Solar Energy Insurance Services, Inc., has expanded its portfolio with a new Excess Natural Catastrophe coverage to protect the renewable energy market from severe convective storms.
This new offering complements kWh Analytics’ existing property capacity, which provides 100% operational and construction coverage for solar, wind, and battery energy storage assets.
The offering will be beneficial for projects that implement protective measures such as hail stow capabilities, reinforced module characteristics including glass thickness, and proper O&M protocols.
The Excess Natural Catastrophe coverage is available immediately through select specialist energy broker partners.
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kWh Analytics and VDE Americas have developed a hail stow and risk evaluation tool in order to standardise the framework for evaluating hail resilience and offer insurance credit for protective measures.
It examines factors including panel specifications, tracker stow angles, forecasting systems, and testing protocols. Projects evaluated as having a robust hail defence strategy can secure more favourable terms, even in the excess layer.
Jason Kaminsky, Chief Executive Officer, kWh Analytics, commented, “Our loss database reveals that hail accounts for 73% of total solar industry losses by damage amount. As renewable projects grow in size and tax-equity investors and lenders require higher insurance limits, we’re addressing a critical market gap with this specialised excess layer solution.”
Isaac McLean, Chief Underwriting Officer, kWh Analytics, added, “Resilience should be rewarded at every level of coverage. Our Excess Natural Catastrophe offering evaluates the same resilience factors we consider in primary coverage, and we request asset owners and sponsors provide us details of their hardening strategies so we can appropriately credit their risk mitigation efforts.”
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