Aviva launches specialised renewable energy insurance

It covers the insurance needs of companies that have operations in their home and overseas markets that include technologies such as onshore wind farms, solar power and battery storage

Festival Net Zero 2021

An integrated package of insurance designed specifically to support large renewable energy companies globally has been launched by Aviva.

Aviva Renewable Energy covers the insurance needs of companies that have operations in their home and overseas markets that include technologies such as onshore wind farms, solar power and battery storage.

Commercial customers will be able to get a single package of insurance to cover the whole lifecycle in areas such as marine project cargo, construction and operation, third party liability and terrorism cover.

It is part of the Aviva’s latest initiative to support action to tackle climate change and contribute towards the UK’s 2050 net zero emissions target.

Around 60% of the energy used by the insurer’s global operations came from renewable sources in 2018 and it has also achieved a 60% reduction in carbon emissions since 2010.

Aviva has set a goal of cutting its emissions by 70% globally by 2030.

It has installed 20 charging points for electric vehicles (EVs) at eight locations in the UK and switched 30% of its car fleet to hybrid vehicles, which has helped save more than four tonnes of carbon equivalent over the past year.

Patrick Tiernan, Managing Director of Commercial Lines, said: “At the start of 2019, Aviva UK exited the standalone operational fossil fuel power market as part of its commitment to help tackle climate change. We are now taking another important step in our commitment by launching a specialist renewable energy proposition providing insurance solutions for the full lifecycle of renewable energy risks worldwide.

“This is an exciting time for Aviva as we look to support the critical growth ambitions necessary in the renewable energy sector to reduce our reliance on fossil fuels. This is a small step in our sustainability journey as a commercial insurer. We are already working with our largest brokers and clients to ensure we can be their partner of choice as the UK economy prepares for carbon neutrality in 2050.”

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