kWh Analytics raises capacity with Aspen to support renewable energy growth

Climate insurer kWh Analytics, Inc. has raised capacity with Aspen Insurance to support its property insurance offering for renewable energy projects to fight climate change.

With this increase, kWh Analytics is able to underwrite up to USD$75 million per renewable energy project location.

It also has full delegated authority to cover accounts compromising up to 100% of operational solar and/or battery energy storage systems (BESS) projects and up to 50% of wind and/or construction accounts.

kWh Analytics’ capacity increase comes one year after the company partnered with Aspen to launch property insurance underwriting and capacity for renewable energy assets in January 2023.

In addition to this increase, kWh Analytics and Aspen now have four of the top ten global re/insurance partners on their panel, the firm stated.

Jason Kaminsky, CEO at kWh Analytics, said: “This capacity raise is a strong indicator of confidence in our company’s data and sophisticated modelling capabilities and the industry’s desire to encourage resilient renewable assets.

“Adding capacity enables us to expand coverage options for responsible asset owners, supporting renewable energy growth amidst worsening natural disasters by incentivizing resilience and bridging the protection gap.”

Renewable asset owners have seen reduced limits and substantial cost increases in recent years, this amidst a growing need for new solutions to manage and underwrite risk.

By using its proprietary database of over 300,000 renewable energy assetskWh Analytics aims to accurately price and underwrite unique risk transfer products, as well as reward asset owners for resiliency measures.

This year, kWh Analytics launched a microcracking endorsement for solar assets that simplifies the insurance claims process for this common but difficult-to-assess form of solar module damage.

Josh Jennings, SVP and Head of Inland Marine at Aspen Insurance, commented: “kWh Analytics’ data-driven approach is consistent with Aspen’s future-focused underwriting strategy, and we’re delighted to continue our collaboration to meet our clients’ evolving needs with innovative renewables solutions.

“This increased capacity provides additional options for asset owners who are proactively designing, building and maintaining resilient assets, and it further strengthens our commitment with kWh Analytics to offer solutions for the growing demands of the renewable energy market.”

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