The transition to renewable energy is well underway, and insurers are working to help the sector overcome its growing pains.
The heat is on to transition our energy supplies from fossil fuels to renewables, which is leading to the construction of a vast amount of new energy infrastructure. Thanks to the added push of new investment, this expansion of infrastructure is in full swing.
But as with all developing technology, there are some kinks to work out. Add to this the uncertainty of climate change, and the green energy build-out may face a bumpy road ahead. These perils aren’t limited to property damage alone; as green infrastructure expands, new liability exposures are emerging as well.
Independent power producers (IPPs) and utilities will need their insurers to remain nimble and innovative enough to help them make it past the energy transition tipping point.