kWh Analytics has expanded its insurance coverage options with a brand new Extra Pure Disaster protection possibility, focusing on the renewable power market’s want for enhanced safety towards extreme convective storms.
The protection was launched by Photo voltaic Vitality Insurance coverage Providers, a licensed insurance coverage entity of kWh Analytics.
The product enhances the corporate’s current insurance coverage merchandise, which offer operational and development protection for photo voltaic, wind and battery power storage property.
The Extra Pure Disaster protection affords further capability of as much as $20m, specializing in injury from extreme storms and named windstorms in inland areas.
Initiatives with hail safety options and strict upkeep protocols can profit from further protection, much like major protection advantages, the corporate stated in a press launch.
To standardise hail resilience evaluation, kWh Analytics has partnered with VDE Americas to create the Hail Stow and Danger Analysis device.
This device scrutinises panel specs, tracker stow angles, forecasting methods and testing protocols.
Initiatives that display hail safety methods by this device might acquire extra “beneficial” insurance coverage phrases, together with inside the extra protection tier.
kWh Analytics chief underwriting officer Isaac McLean stated: “Our Extra Pure Disaster providing evaluates the identical resilience elements we contemplate in major protection, and we request asset homeowners and sponsors present us particulars of their hardening methods so we will appropriately credit score their danger mitigation efforts.”
kWh Analytics CEO Jason Kaminsky acknowledged: “Our loss database reveals that hail accounts for 73% of complete photo voltaic trade losses by injury quantity. As renewable tasks develop in dimension and tax-equity traders and lenders require greater insurance coverage limits, we’re addressing a important market hole with this specialised extra layer answer.”
