The Hartford Targets Renewable Energy Firms with New Insurance Unit

September 17, 2010

The Hartford Financial Service Group Inc. has formed a Renewable Energy Unit to address the unique and evolving needs of the rapidly growing renewable energy industry. The new unit will provide specialized underwriting and property and casualty insurance products for makers, builders and operators of renewable energy.

Juan Andrade, president of The Hartford’s Commercial Markets, said that with the infusion of billions of dollars from investors, venture capitalists and the U.S. government, the renewable energy industry is “poised to become a sizeable source of economic activity and important market for insurance products.”

The Hartford has appointed James Gardiner to lead the Renewable Energy Unit. Gardiner will be responsible for the unit’s overall execution and management with a focus on business development.

Gardiner has played a role in The Hartford’s expansion into the renewable energy industry. He has represented The Hartford on the American Council on Renewable Energy (ACORE) since 2009, serving as co-chair of its risk management working group and a member of the finance and investment committee.

Gardiner is also collaborating with the California Clean Energy Fund (CalCEF) to understand the risk management needs of early stage renewable energy companies, and his team has contributed to a National Renewable Energy Laboratory study.

The Hartford also announced that John Davison has joined the company as renewable energy underwriting director, reporting to Gardiner. Davison brings more than 30 years of underwriting experience in the energy and related industries. He will be responsible for shaping The Hartford’s underwriting position and helping to deepen relationships with specialist distribution partners. Most recently, Davison served as senior underwriter in the global energy division of Zurich Insurance. He will be based in The Hartford’s Houston office.

The Renewable Energy Unit will be based in The Hartford’s Southwest Regional office, under the leadership of Regional Vice President Tim Nelligan. Gardiner will work closely with Nelligan in establishing The Hartford’s renewable energy field distribution strategy, with an initial focus in Texas, California and New Jersey this fall and a broader rollout planned for 2011.

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