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Renewable Energy Insurance & Risk 101

Renewable Energy Insurance & Risk 101

December 10, 2024 Online :: Central Time

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In today’s rapidly evolving energy landscape, renewable energy sources play a pivotal role in meeting global sustainability goals. However, with innovation comes inherent risks, and understanding how to navigate these risks through insurance and risk management strategies is crucial for industry professionals. This course aims to bridge the gap between the alternative energy sector and insurance expertise, empowering participants to make informed decisions and effectively manage risks associated with renewable energy projects.

Register today for this informative one-day course; take advantage of our group discounts starting at 20% off for teams of five or more!

Learning Outcomes

  • Gain a comprehensive understanding of insurance terminology, principles, and concepts essential for effective risk management in the renewable energy sector
  • Identify and analyze the unique risks associated with different types of energy sources, including solar, wind, and battery energy storage systems (BESS)
  • Define and differentiate between exposure, loss, peril, hazard, incident, accident, occurrence, claim, frequency, severity, and expected losses
  • Evaluate emerging risks such as advancements in technology, climate change, political shifts, and public health concerns
  • Assess potential impacts of emerging risks on renewable energy projects and develop strategies to address them
  • Define insurance and its role as a risk transfer technique
  • Explore liability and property insurance types and coverage triggers
  • Evaluate general liability, property, and inland marine insurance coverages
  • Evaluate insurance rating and exposure considerations for renewable energy projects
  • Explore insurance risks pertinent to developers, including deductibles, sub-limits, endorsements, wordings, and exclusions

Register

Please Note: This event is being conducted entirely online. All attendees will connect and attend from their computer, one connection per purchase. For details please see our FAQ

If you are unable to attend at the scheduled date and time, we make recordings available to all attendees for 7 days after the event

REGISTER NOW FOR THIS EVENT:

Individual attendee(s)$ 895.00 each
Volume pricing also available

Individual attendee tickets can be mixed with ticket packs for complete flexibility
Pack of 5 attendees$ 3,580.00 (20% discount)
Pack of 10 attendees$ 6,265.00 (30% discount)
Pack of 20 attendees$ 10,740.00 (40% discount)

Your registration may be transferred to a member of your organization up to 24 hours in advance of the event. Cancellations must be received on or before November 08, 2024 in order to be refunded and will be subject to a US $195.00 processing fee per registrant. No refunds will be made after this date. Cancellations received after this date will create a credit of the tuition (less processing fee) good toward any other EUCI event. This credit will be good for six months from the cancellation date. In the event of non-attendance, all registration fees will be forfeited. In case of conference cancellation, EUCIs liability is limited to refund of the event registration fee only. For more information regarding administrative policies, such as complaints and refunds, please contact our offices at 303-770-8800

Agenda

Tuesday, December 10, 2024
Central Time

Online

Log In and Welcome

8:45

Lunch Break

12:00 - 1:00 PM

Adjourn for the day

4:30 PM

8:45 - 9:00 AM

Log In and Welcome

12:00 - 1:00 PM

Lunch Break

9:00 AM - 4:30 PM

Course Timing

What is Risk?

  • Definition of Risk
    • Types of Risk
      • Pure
      • Speculative
  • How should I be thinking about it?
    • How does your company look at risk?
    • Risk Appetite
    • Risk Taking-Ability
    • Contracts
  • Risk Terms
    • Exposure
    • Loss
    • Peril
    • Hazard
    • Incident
    • Accident
    • Occurrence
    • Claim
    • Frequency
    • Severity
    • Expected Losses
    • Risk Appetite
    • Risk Taking-Ability
  • Risk Management Process
    • Risk Identification
    • Risk Analysis
    • Risk Control
    • Risk Financing
    • Risk Administration
  • Emerging Risks
    • Advancements in Technology
    • Climate Change
    • Political Shifts
    • Public Health
    • Overpopulation/Decreasing Water Supply
    • Changes/Threats to the industry in which you are operating

Basics of Insurance

  • What is Insurance?
    • Risk transfer technique
    • Why do we buy it?
      • Government Requirement
      • Business Requirement
      • Contractual Requirement
  • Liability
    • 3rd Party
    • For the benefit of others due to our negligence
    • Types of Policies
      • General Liability
      • Pollution
      • Professional/Errors and Omissions (E&O)
      • Cyber
      • Executive Liability (D&O)
      • Fiduciary
      • Employment Practices Liability (1st & 3rd)
      • Workers Compensation
      • Auto Liability
    • Coverage Triggers – Form Types
      • Occurrence
      • Claims Made
      • Tail Coverages
  • Property
    • 1st Party
    • For our benefit for our damaged property for a covered cause of loss
    • Types of policies
      • Property
        • Building
        • Business Personal Property
        • Business Income/Interruption – Not just net profit
          • With or without rental income
          • With or without extra expense
        • Ordinance or Law
      • Inland Marine
        • Floaters
          • Tools
          • Computer Equipment
          • Furriers
          • Dies & Casts
          • Plans/Blueprints – Documents
        • Cargo
          • Truck
          • Ocean
          • Rail
        • Construction
          • Builders Risk
          • Installation Floater
        • Transmission Equipment
          • Towers
          • Bridges
          • Solar
          • Wind
          • BESS
        • Mechanical Breakdown “Boiler & Machinery”
  • Insurance Markets
    • Standard or “Admitted”
    • Surplus or “Non-Admitted”
  • Types of insurance offerings
  • What information do we need and why?
    • Do we need it?
  • Other risk transfer techniques

Insurance Coverages

  • What is it? How is it rated?
    • General Liability
    • Property
    • Inland Marine
  • What other coverages should I be thinking about?
    • Pollution
    • Professional

Renewables

  • Type & Risk – NAT CAT
    • Solar
      • SCS
        • Hail
        • Lightning
      • Wind
        • Named Wind
        • Straight Wind
      • Flood
      • Wildfire
      • Mechanical Breakdown
      • Construction Loss
    • Wind
      • Wind
      • Lightning
      • Construction Loss – Dropped Turbine
      • Mechanical Breakdown
    • BESS
      • Thermal Runaway
      • Flood
  • Insurance – rating & exposures – proformas!
    • What do we need to get a proper number?
      • Statement of Values (SOV) Information
        • Named Insureds
        • Location
        • Values of Parts
          • Specific – Panels, Racking, inverters
          • Total Insurable Value (TIV)
    • Rating
      • Liability
        • Can be based on:
          • Gross Sales
          • Payroll
          • Area
          • Units
          • Depends on the risk
        • Property
  • Insurance risks to be aware of for developers
    • Deductibles
      • Flat number
      • Percentages
      • Time element
    • Sub-limits
      • Based on the localized NAT CAT
        • Flood
        • Wind
        • Hail
        • Earthquake
    • Endorsements and Wording
      • Micro-cracking
    • Exclusions
      • Have pictures of exclusions

Instructor

As a part of the Energy and Climate Tech practice, Alex works with renewable energy projects as well as their construction risks, gaining insight into their operations while analyzing their insurance policies to ensure proper risk transfer.

Alex has been with Brown & Brown since 2016 as a commercial producer in Seattle, WA. Alex started his insurance career with a focus on commercial property and working with tribal governments and their enterprises as well as a tribal-owned utility. He progressed by learning and insuring construction businesses for the last 3 years. Through this process he regularly reviews contracts and advises his customers on their contract risk and how it relates to their insurance.

Alex currently sits as the Board President of Solar Washington, a not for profit that promotes and advocates for solar energy and was the past Vice President and past Chair of the Educational Committee. Alex is working towards his Certified Risk Manager (CRM) designation. Alex currently holds two designations from The Institutes: Associates in Insurance and Accredited Advisor of Insurance. He also holds a Construction Risk Insurance Specialist (CRIS) and an Energy Risk Insurance Specialist (ERIS) designation from the International Risk Management Institute. Through the National Alliance he holds a Certified Insurance Counselor (CIC) designation.

Alex Nephew

Commercial Insurance Advisor

Brown & Brown

Continuing Education Credits

Credits

IACET

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EUCI is accredited by the International Accreditors for Continuing Education and Training (IACET) and offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard. IACET is recognized internationally as a standard development organization and accrediting body that promotes quality of continuing education and training.

EUCI is authorized by IACET to offer 0.7 CEUs for this event

Verify our IACET accreditation

Who recognizes IACET Credits?

CPEs

Upon successful completion of this event, program participants interested in receiving CPE credits will receive a certificate of completion.

Course CPE Credits: 7.5
There is no prerequisite for this Course.
Program field of study: Specialized Knowledge
Program Level: Basic
Delivery Method: Group Internet Based
Advanced Preparation: None

CpeEUCI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org

Requirements for Successful Completion of Program

Participants must long on and be in attendance for the entirety of the course to be eligible for continuing education credit.

Instructional Methods

Power Point presentations, Q&A and open discussion