kWh Analytics has expanded its insurance coverage options with a brand new Extra Pure Disaster protection choice, focusing on the renewable vitality market’s want for enhanced safety in opposition to extreme convective storms.
The protection was launched by Photo voltaic Power Insurance coverage Companies, a licensed insurance coverage entity of kWh Analytics.
The product enhances the corporate’s present insurance coverage merchandise, which give operational and building protection for photo voltaic, wind and battery vitality storage property.
The Extra Pure Disaster protection affords extra capability of as much as $20m, specializing in harm from extreme storms and named windstorms in inland areas.
Tasks with hail safety options and strict upkeep protocols can profit from extra protection, just like main protection advantages, the corporate mentioned in a press launch.
To standardise hail resilience evaluation, kWh Analytics has partnered with VDE Americas to create the Hail Stow and Danger Analysis instrument.
This instrument scrutinises panel specs, tracker stow angles, forecasting programs and testing protocols.
Tasks that display hail safety methods by way of this instrument might acquire extra “beneficial” insurance coverage phrases, together with throughout the extra protection tier.
kWh Analytics chief underwriting officer Isaac McLean mentioned: “Our Extra Pure Disaster providing evaluates the identical resilience components we contemplate in main protection, and we request asset homeowners and sponsors present us particulars of their hardening methods so we are able to appropriately credit score their threat mitigation efforts.”
kWh Analytics CEO Jason Kaminsky acknowledged: “Our loss database reveals that hail accounts for 73% of whole photo voltaic trade losses by harm quantity. As renewable initiatives develop in measurement and tax-equity traders and lenders require larger insurance coverage limits, we’re addressing a crucial market hole with this specialised extra layer answer.”
