ACE Group has launched ACE Renewable Energy Environmental Protection, a dedicated environmental policy for companies in the renewable energy industry in the U.K. and Ireland.
ACE Renewable Energy Environmental Protection covers the spectrum of environmental risks faced by renewable energy companies, “providing seamless coverage, from the start of construction of renewable energy plants through to their operation,” ACE said in a statement.
It is available to energy producers in all renewable sectors: solar, onshore and offshore wind, tidal, hydro, waste-to-energy, biofuel and landfill gas extraction.
ACE said key coverage features include:
- New and historical pollution risks
- First party business interruption cover upon completion and operation of the facility
- Automatic coverage for on-going maintenance post construction
- Biodiversity damage up to the full policy limit as standard
- Ability to accommodate lenders’ clauses, subject to internal legal review
- Ability to provide either owner or contractor controlled programs
- First party replacement costs to include “green” improvements
- Transportation liability as standard for materials transported during construction
- Pollution condition definition to specifically include odor
- Loss mitigation and crisis management costs
ACE said the cover is supported by a team of environmental scientists and engineers, backed up with crisis management support for all risks, ensuring that companies are best equipped to respond when they suffer a loss and minimize its impact on their business.
“While renewable energy and environmental risks have been in the news for many years now, many brokers and their clients in the sector are unaware of the environmental risk exposures that they face and with increasing regulation and third party costs, they could potentially face expensive and damaging claims,” said Emma Bartolo, environmental risk manager, in the U.K. and Ireland for ACE.
Source: ACE Group