AXIS VIEW - AXIS VIEW - Richard Carroll

AXIS VIEWRichard Carroll, Global Head of Renewable EnergyAXIS VIEW - Richard CarrollContents

INSIGHT
ON RENEWABLES

As we continue into 2021, it’s clear that the future for the renewable energy industry is long-term, sustainable growth. In recent years solar and wind have continued to be the leading sources of newly installed power, whilst battery installations have increased in both size and number, previewing their huge potential as a complementary technology and energy source. Investment – from both private institutions and governments – continues to grow, as does the world’s need for electrification from low carbon sources of energy.

Ten years ago, when we started the Renewable Energy business at AXIS, our aim was to grow with the industry and that has not changed. In the last year we have added new capabilities to our team and continue to invest in people and resources, enabling us to meet the promise of the industry. We are committed to providing underwriting excellence that is underpinned by superior insights and analysis of renewable energy risks.

Richard Carroll
Global Head of Renewable Energy

INSIGHT
ON RENEWABLES

Our optimism is tempered by the issues that continue to plague the renewables industry. Most nascent industries have their teething problems, but we still see too many avoidable issues in renewables. Contractor competence remains an issue and weather perils, such as flood, hail and fire, are all playing a part in making this a difficult market, despite the rise in rates that the market has experienced over the past 18 months. These issues don’t have a single solution. What is clear is that maintaining the renewable energy industry’s long-term, sustainable growth will require closer collaboration between its key stakeholders, including both AXIS and you.

As we move forward, communication between insurers and the broker community will be key. From our side we will continue to share with you our perspectives on best practice and what we believe should be minimum standards for all parties, who are invested in the long-term success of renewables. In return we welcome your views and hope that by continuing to foster open channels of communication, AXIS can provide you with the best service possible.

Above all, we thank you for your partnership, collaboration and support, and we look forward to continuing to grow our business together.

Disclaimer

The AXIS Renewable Energy team provide expertise in insurance coverage and risk mitigation analysis and insights for every stage of renewable energy projects from development through operation, ranging from stand-alone projects to utility scale. This material is for general information, education and discussion purposes only. Statements contained herein are not professional or legal advice of AXIS or its affiliates. AXIS makes no representations as to the accuracy or completeness of the information contained herein and is under no obligation to update or revise the information as a result of new information, research or future events. Implementing any recommendations or ideas discussed in this document does not guarantee the fulfilment of any obligations under any contract, compliance with any law, rule or regulation, the avoidance of loss or that all reasonable preventative measures have been taken. AXIS assumes no liability by reason of the information within this material.