Solar Power

Solar Power

Solar power is the number one growing renewable energy source.

REIB has been insuring solar power risks, with a total capacity of over 3000+ GWp. To help project owners and operators meet financial expectations, we offer transport insurance, construction all risk, and operational all risk coverage, as well as a variety of tailored offerings for project owners and operators to meet financial expectations.

Our portfolio of underwritten assets spans utility-scale, commercial and industrial photovoltaic systems.
Solar_power_back
solar panels

Solar Power Developers and Energy Producers

Developers and producers of solar power plants face unique and potentially catastrophic risks. To effectively manage these risks, we design specialized insurance tailored to your company's needs according to the solar industry.
REIB specializes in these complex risks and provides you with customised protection options. Due to the strong relationships, we have established with our insurance carriers, we guarantee unlimited access to companies, specialized in renewable energy.
To project developers we arrange third party (public) liability insurance and professional liability insurance including:

1. General Liability Insurance

Provides protection for personal injury and property damage that may occur as a result of business activities.

2. Professional Liability Insurance/Errors and Omissions (E&O)

Covers the whole spectrum of vendors and industry-related professionals as installers, engineers and solar project designers.

3. Workers’ Compensation

Coverage form of insurance providing wage replacement and medical benefits to employees injured during work.

Construction/Erection All Risks

This policy covers physical property loss or damage, as well as third-party liability for work conducted on the contract site.
An All Risks basis coverage, meaning that the policy covers damage to property during construction caused by all sudden, accidental, and unforeseen causes other than specified excluded perils and forms of damage.
Physical loss or damage to construction plant and machinery, equipment, and tools used in the insured contract are also covered by the policy.
Additionally, CAR insurance includes third party liability coverage includes accidental bodily injury or illness to third parties; accidental loss of, or damage to property ownership to third parties, caused by an accident at the construction site.

1. Transport/Cargo insurance

Cargo insurance protects against physical damage or loss of modules, inverters, structures, and other cargo while it is being transported by land, sea, or air. The coverage begins with the purchase of materials from the manufacturer's plant and ends on the PV construction field / warehouse, including loading and unloading.

2. Personal accident of the EPC’ s employees

PA policy covers all employees of the EPC contractor while they are on the site. Renewable Energy Insurance Broker provides workers with peace of mind by offering a variety of personal insurance policies that cover accidental death, total or partial disability, temporary disability, etc.

3. Employers' Liability insurance

Insurance that protects employers against liabilities occuring from disease, fatality, or injury to employees as a result of workplace conditions or practices. Please keep in mind that in some jurisdictions, employers are required to purchase such insurance.

4. Еrrors & omissions (E&O)

Errors & omissions (E&O) insurance covers service-providing companies from paying the full cost of defending against a client's negligence claim, and any damages awarded in such a civil lawsuit.

5. Workers’ Compensation Coverage

Form of insurance providing wage replacement and medical benefits to employees injured on the job.

6. Equipment Floater

The policy specifically covers physical loss or damage to construction plant and machinery, equipment, and tools. Coverage begins while solar equipment is being delivered to the project site and ends when the job is done or the owner accepts the work.

7. Performance bond

Operational All-risk property protection

The solar power plant described in the insurance contract, as well as all parts which belong to the solar plant, are insured, including: Fences, cabling / Devices which are for the purpose of infeed such as transformers, network infeed stations and underground cables / Foundations, load-bearing constructions / Operational buildings and containers on the plant / Transmission equipment for monitoring

1. Property damage

External causes such as fire, theft, vandalism, sabotage, hail damage, snow load, lightning strike, overload, operational mistakes, clumsiness and negligence, and animal bite are covered by this insurance. Also, the consequential losses as a result of the damage like labor, transport costs and prevention costs are covered.

2. Machinery Breakdown

Insurance covers unforeseen and sudden physical damage to any solar equipment from your solar project by any cause necessitating repairs and/or replacement.

3. Business Interruption

Extra expense insurance and business interruption coverage are both available. To determine the appropriate level of business income coverage, we evaluate previous production levels and current market value, among other factors.

4. Contingent Business Interruption (CBI)

Contingent Business Interruption covers the installation's business interruption as a result of a sudden and unforeseen physical damage or loss to the first non-owned substation. It is impossible to supply electricity to the grid due to the damage or loss of the non-owned substation. There is no physical damage or loss of your own insured PV installation.

5. Liability insurance

Provides protection for personal injury, bodily injury, property damage and/or advertising injury. Including general liability insurance for existing renewable energy operations, as well as newly acquired or newly formed organizations.
work with reib

Why Choose Us?

  • We are specialists in the solar insurance field
  • Guaranteed 24 hours communication: online claim forms; response to any query within 24 hours; senior advisor is available
  • We work only with A-rated insurance companies
  • We can provide solar insurance package for your photovoltaic plant worldwide
  • We understand your business
  • We go above and beyond to make sure our customers are happy with our services
  • We can make your PV project more bankable

Schedule an appointment with one of our experts