HOW WE WORK
Renewable energy projects are complicated. There are many constituents; system manufacturers, developers/EPCs, owners, financers, tax equity providers, operation and maintenance organizations, power off-takers, and more. The technology is new, or relatively new, and the financing and performance requirements are long term; 10-30 years in many cases. These complexities create opportunities.
New Energy Risk approaches each engagement as a problem solver. Each client is unique in its needs, so each solution is customized. Operating with the belief that insurance capacity should be used wisely and should be cost effective, we tailor a contract that is relevant; not too much or too little.
Brokers and other project participants come to us with complex risk issues that require thoughtful, purpose-built solutions. “Off the shelf” products are either too expensive or do not address the actual need. Our team designs, quantifies, structures, and underwrites bespoke policies that result in more efficient and cost effective solutions. Our broad industry experience and set of relationships provide the ability to implement these solutions with leading insurance carriers.
New Energy Risk brings a wealth of experience, relationships, and expertise from the insurance industry
- Our Chairman, Tom Hutton, former CEO of Risk Management Solutions and White Mountains Re and former Director of several insurance companies (Centre Cat, Montpelier Re, Safeco). Tom is currently Managing Partner of XL Innovate.
- Our CEO, Tom Dickson, former CUO and CEO of Centre Solutions
- Our team with senior experience in risk analytics and engineering (Risk Management Solutions, Inc.), actuarial science (General Reinsurance), and clean energy finance (PG&E)
- Our partnership with XL Catlin and leading reinsurers
- Our partner network in the industry including Brokers (such as Aon, Arthur J. Gallagher & Co, Beecher Carlson, Lockton Companies, Marsh and Woodruff-Sawyer & Co); and Underwriters (led by XL Catlin and leading reinsurers)
- We are a Managing General Underwriter (MGU), operating under Complex Risk Insurance & Associates, LLC for XL Catlin. Our California Surplus Lines License is #0J16796.
We provide transparency in our analytic methods so that insurance and reinsurance risks can be syndicated based on our risk metrics.