Energy risk solutions

Expertise empowering the energy transition

Your energy risk partner now and into the future

Learn all about it in one minute

With deep expertise and broad capabilities in underwriting, risk engineering, and claims, HSB’s team of professionals is uniquely qualified to support our clients across the spectrum of equipment-intensive energy risks. Our people inspect and assess energy equipment risks all over the world and share their knowledge and insights to improve industry standards and benefit our clients. No other insurance company has the breadth of technical expertise that HSB deploys every day, bringing stability to a changing landscape.

Our energy risk capabilities

HSB has a consistent, strong appetite and effective solutions for complex energy risks. We help energy insurance brokers deliver protection for independent power producers and utilities with solutions, including:

Property damage coverage, including time element and equipment breakdown
In-house risk engineering and claims support

Builder’s Risk

This coverage protects against damage from property perils such as earthquakes, floods, named storms, and severe convective storms, and includes delay in startup, soft costs such as additional expenses and fees, and equipment breakdown coverage. Our coverage can seamlessly flow from builder’s risk through commissioning and into operation.

Operational Property All Risk

Once an energy facility begins operating, this coverage provides protection from damage caused by property perils such as earthquakes, floods, named storms, and severe convective storms. Operational property all risk insurance also includes coverage for business interruption, extra expense, and equipment breakdown.

Learn more about HSB’s appetite and expertise

HSB has a broad appetite for energy risks and significant capabilities, including:

$250m in capacity for U.S. risks
100% placement, lead lines, or quota share
In-house risk engineering and claims support

Biofuel production and processing plants

HSB has been assessing processes and technologies for efficacy and insurance for over 15 years. This industry is evolving as innovative technologies emerge, striving to achieve the right balance between fuel production and economic viability. We recognize the challenges associated with both and can share our expertise.

Hydroelectric power generation

From run-of-the river facilities, to earthen dams, to large-pumped storage facilities, HSB has been evaluating and insuring hydropower across most of our 150-year history.

Battery energy storage systems (BESS)

HSB has long recognized the importance of Battery Energy Storage Systems as a vital component of electrical systems. We collaborated with the industry as storage systems have evolved from small lead-acid battery applications to advanced chemistries, innovative technologies, and grid scale multi-megawatt (MW) sized applications. We have assessed over 1,400 MW of BESSs for investment purposes, evaluated monitoring systems to enhance performance, and contributed to the development of new standards for fire protection in this rapidly evolving field. Our expertise encompasses the entire lifecycle of batteries, from development and operation to decommissioning and recycling.

Renewable natural gas (RNG) production facilities

HSB’s knowledge of pressure vessels and equipment has been a key ingredient in understanding RNG as it moved from a niche industry to key renewable energy resource. Over the years, we have evaluated the different technologies and uses, from landfill gas to wet and dry anaerobic digestion with feedstocks of all types including animal, food, and green wastes. From the equipment to unique fire protection requirements, HSB is ready to support our partners and policyholders.

Solar: Distributed commercial and utility-scale

HSB has been assessing and insuring Solar PV since the time when a 1 MW facility was considered large. Since then, we’ve conducted technical due diligence for investment purposes on over 650 utility-scale solar projects and supported our insurance partners in developing their solar insurance programs. From rooftop to utility-scale projects, we possess the expertise to distinguish between high-quality and subpar solar installations. Regardless of how unconventional a solar farm may seem, it’s likely that we have already seen and evaluated it.

Geothermal power generation

Utility scale power generation from a Rankine thermal cycle is not new to HSB. We’ve been in that segment for decades, evaluating and insuring steam generators, turbines, generators, and transformers. We are also actively broadening our expertise in innovative non-utility-scale geothermal installations as commercial and residential sectors increasingly adopt this technology to decarbonize their facilities. We are prepared to collaborate across all aspects of geothermal energy, including ground source heat pumps, district heating and cooling, and utility-scale power generation.

Conventional Power: Natural gas and oil power generation facilities

Conventional power generation is at the core of HSB’s engineering expertise. We have experts dedicated to turbines, boilers, and transformers who assist and evaluate the industry, maintain manufacturer relationships, and participate in the development of standards and guidelines that enable the power generation industry to prosper and grow.

Wind: Onshore

HSB has a proven track record of technical expertise, having performed technical due diligence for investment opportunities on over 30GW of on- and off-shore wind power generation assets across Europe and North America. This decade-long experience sets us apart in the insurance industry. HSB is uniquely positioned to develop tailored engineering solutions based on our construction, efficacy, and operational knowledge.

Biomass energy facilities

As the use of coal for electricity generation declines, biomass is on the rise. While the balance of plant equipment remains consistent, boilers encounter distinct challenges related to the characteristics of biomass fuels. From wood burners to municipal solid waste, we recognize the unique aspects of each risk and are prepared to collaborate with our partners and policyholders.

Green Hydrogen: Commercial electrolysis, storage, and processing

While the fundamental technology for hydrogen generation is well-established, its evolving application and potential scale present new challenges for both the industry and insurance sectors. HSB is committed to staying at the forefront of this field by participating and leading the development of industry standards as well as actively engaging equipment manufacturers to drive the industrialization of these new technologies. This engagement ensures that the industry is well-prepared for success as it evolves, and HSB is prepared to support design, fabrication, installation, and operation.

Trust HSB as your energy risk partner

100

Gigawatts

HSB insures nearly 100 GW of renewable energy generation capacity in the U.S. and Canada

20

Years

Our claims professionals have an average of 20 years’ experience

A++

Rated

HSB is rated A++ (Superior) by AM Best Company, the world’s largest credit rating agency specializing in the insurance industry

150+

Years

HSB has insured electric power generation since the beginning of electric energy

Protection for the energy production spectrum

With expertise across a diverse set of energy technologies, brokers and power producers trust HSB. Contact us to discuss your energy risk needs and learn more about how HSB delivers a best-in-class experience for our clients.

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