As the energy and renewables market evolves, climate risks carry significant impacts for energy production and threatens infrastructures. Off-shore or on-land, natural hazard coverage has proven to be a challenge for traditional insurance. This challenge is particularly acute when there is a lack of historical claims data, as is often the case for renewables or previously considered uninsurable perils like hail.
Descartes’ parametric solutions offer a financial hedge against energy yield volatility and natural catastrophe damage. Customized precisely to client’s assets and power generation technology, we provide a straightforward index based solution that triggers through the use of objective third-party data.