Commercial property insurer FM Global recently announced the launch of a Renewable Energy unit to help clients in the transition to alternative energy through research and innovation and to support the overall advancement of the renewable energy industry.
FM Global unveiled the new initiative as part of its presence at the RISKWORLD conference in San Diego, announcing leadership for the new unit and revealing it will begin offering a renewable energy insurance product later this year.
Clients and brokers increasingly have asked for FM Global’s support in accelerating new energy projects in response to worldwide adoption of emissions-reduction targets. The FM Global Renewable Energy unit will focus on research; standards development; and loss-prevention engineering around utility-scale ground mounted solar, onshore wind power and battery energy storage systems.
The new unit serves the U.S. and Canada and will launch globally later this year.
In July, FM Global will offer a new policy for renewable energy operation in the U.S. In 2025, it plans to offer a renewable energy construction policy to support clients from the design and build stage through operation of renewable energy assets.
