Solar Webinar

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Underwriting and risk management considerations

A three-part webinar presented by Munich Re and Hartford Steam Boiler.

Part 1 - Introduction to solar energy

Watch Part 1 (Running Time: 59 Minutes)

Part 1 presentation as (PDF, 3.6 MB)


Part 2 - Equipment overview and property insurance exposures and underwriting considerations


Watch Part 2 (Running Time: 60 Minutes)

Part 2 presentation as  (PDF, 4.4 MB)


Part 3 - Casualty insurance exposures and underwriting considerations


Watch Part 3 (Running Time: 78 Minutes)

Part 3 presentation as (PDF, 4.4 MB) 

About this event


The United States renewable energy market has experienced significant growth over the past five years and renewable energy will play an increasingly important role in the future. Solar energy, while currently providing less than 1 percent of U.S. energy, has experienced dramatic growth due to increased consumer demand; rising energy prices from conventional energy sources; and policies and financial incentives from the federal government, states and utilities. According to the U.S. Solar Market Insight Report, the total size of the U.S. solar market grew 67 percent from $3.6 billion in 2009 to $6 billion in 2010. In addition, solar installations in 2010 totaled 956 MW to reach a cumulative installed capacity of 2.6 gigawatts (GW).

From small photovoltaic installations on homes, schools, and commercial buildings to large commercial solar energy farms, the focus on developing solar energy capability will continue to intensify at the local, state and national levels.

With this growth in development comes increased risks. Damage to the solar panels from fire, weather or mechanical breakdown, injuries resulting from improper installation or (electrical) arc faults and misrepresentation of performance standards are just a few examples of the possible insurance loss scenarios created by solar energy production.

During this three-part webinar, we will explore:

  • the technology used in the production of solar energy
  • the risks associated with construction and operation
  • the relevant property and casualty underwriting considerations that insurers must address to enable the continued use of this renewable energy source.


The focus will be on photovoltaic installations installed on commercial and residential properties.

Presenters

Michael Fusselbaugh
SVP, Renewable Energy
HSB
(Retired)
Richard Pizzella
AVP, Engineering
HSB
Robert Beck
SVP, Corporate Insurance Partners
Munich Re America
Gerry Finley
SVP, Casualty Treaty Underwriting
Munich Re America
Michael Roy
AVP, Engineering
HSB
   
About HSB and Munich Re

In the U.S., Munich Re provides access to a full range of property-casualty reinsurance and specialty insurance products through Munich Reinsurance America, Inc., American Modern Insurance Group and Hartford Steam Boiler Group. Together, we deal with the issues that affect society and work to devise cutting-edge solutions that render tomorrow’s world insurable. For more than 100 years, Munich Re has been successfully addressing the key challenges of the future in the US. Our clients trust us to develop solutions for the whole spectrum of reinsurance – from traditional reinsurance agreements to the management of complex specialty reinsurance risks. Our recipe for success: we anticipate risks early on and deliver solutions tailored to clients’ needs, creating opportunities to achieve sustained profitable growth.

HSB Group, Inc. is the parent company of The Hartford Steam Boiler Inspection and Insurance Company (HSB), a leading global provider of specialty insurance, inspection services and engineering consulting for businesses, industries and institutions. One of the world’s leading equipment breakdown insurers, HSB helps clients reduce risk through a unique combination of specialty coverages, engineering-based risk management strategies and loss reduction services.


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This publication is available exclusively to Munich Re clients. Please contact your Client Manager.