Renewable energies

Duration: 90 minutes 

In line with the goals of the Paris Agreement, the energy system is undergoing a fundamental transition, which is even going to accelerate over the years to come:

• New power production capacity will mainly come from on- and offshore wind power and from solar PV.
• Battery energy storage systems (BESSs) will be added at a larger scale to balance out power production with power demand over time.
• Decarbonisation of sectors that cannot be electrified will require large amounts of green fuel to be produced (e.g. hydrogen, e-fuels, green ammonia).
• To use these new energy sources, existing technology needs to be modified or redeveloped (e.g. to make gas turbines hydrogen-ready)

All the above developments come with new risks, e.g. renewable power assets are significantly vulnerable to extreme weather events; BESSs and newly developed hydrogen-fuelled applications have high fire risks. Furthermore, rapid technological evolution entails a number of risks which cannot be deduced from historical data. This poses new challenges for the insurance industry and requires a thorough risk assessment during underwriting. The seminar outlines the implications for insurance and provides loss examples and recommendations for underwriters when assessing technologies needed for the energy transition.

• Status and fundamental changes in the power generation landscape ​
• Resulting new risks ​
• Implications for insurance ​
• Loss examples, risk assessment and underwriting for renewable energies ​
• Alternative risk transfer solutions 

Underwriters dealing with renewable energy risks

English - professional business English skills required

Our seminars are provided to our most valued clients only. If you are interested in participating, please get in touch with your client manager or responsible underwriter at Munich Re.

7 March 2024

Deadline for registration

6 March 2024