Zurich and Aon launch clean energy insurance facility

Written by Adam Cadle

01/07/2024

Zurich and Aon have launched a clean energy insurance facility, providing comprehensive coverage globally for blue and green hydrogen projects with capital expenditures of up to US$250m.

The initiative with Zurich as the lead insurer and Aon as the exclusive broker aims to accelerate the development of clean hydrogen projects. It also forms part of Zurich’s commitment to support the net-zero transition through customer engagement, new services and product innovation.

The new multi-line clean energy insurance facility offers comprehensive coverage through a single integrated policy, encompassing construction, delay in start-up, operational cover, business interruption, marine cargo limits, and third-party liability. It also includes coverage for carbon capture, utilisation, and storage (CCUS) technologies, providing customers with a complete suite of solutions across the entire value chain of hydrogen production.

“Insurance is a key enabler to facilitate the net-zero transition, providing protection as well as risk expertise,” Sierra Signorelli, CEO commercial insurance at Zurich, said.

“Clean hydrogen has immense potential as an eco-friendly alternative to fossil fuels and we strongly believe it can play a critical role in the energy transition. We are proud to bring this ground-breaking initiative to the market together with Aon.”

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