Is Bess a good investment for battery energy storage risks?

As a lead underwriter in both London and New York of battery energy storage risks we have a strong appetite for BESS and it is an important part of our renewable energy insurance portfolio.

How has fire impacted energy storage insurance cover?

High profile fire incidents in the BESS sector 10 have started to affect insurers’ appetite to provide energy storage insurance cover. 11 The insurance market for BESS has seen a reduced capacity as a consequence of some key insurers exiting the insurance market or having a very narrow underwriting footprint.

Why do you need warranty insurance for your energy storage system?

Our warranty insurance solutions help to secure your sustainable business in the long run. Energy storage systems often involve the complex integration of multiple high-tech components. These are all prone to failure and malfunction, particularly over long periods of ten years and more.

Why do we need reliable energy storage systems?

Renewables like wind and solar energy are intermittent by nature. To successfully master the energy transition, reliable energy storage systems are a must to provide the necessary supply stability.

Are battery energy storage systems being affected by fires?

Battery energy storage systems (BESS) have been in the news after being affected by a series of high-profile fires.

What is a battery energy storage system?

As the energy crisis continues and the world transitions to a carbon-neutral future, battery energy storage systems (BESS) will play an increasingly important role. BESS can optimise wind & solar generation, whilst enhancing the grid’s capacity to deal with surges in energy demand.