RE-GEN: a specialist solution
Recognising the need to develop solutions that reflect the demands of the global onshore renewables sector and drawing upon our leading insights into renewable energy risk, Aon has created RE-GEN, a facility exclusive to Aon clients.
Developed with leading insurers in the renewable energy market, RE-GEN offers specialist and comprehensive coverage specifically tailored for global onshore renewable energy plant investors, developers and operators.
Leveraging economies of scale, RE-GEN is able to draw upon the diversity of its portfolio and offer highly competitive and exclusive terms and conditions for Aon power clients, while delivering USD 400 million of dedicated capacity throughout the life cycle of a project.
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Aon RE-GEN Facility Fact Sheet
1. RE-GEN
Renewables now account for 10% of the world’s energy needs
and that figure is set to grow as countries and multinational
entities continue to set targets such as those set out during the
United Nations’ COP|21 meeting in Paris. More than 144 countries
now have renewable energy targets.
Global investment in renewable energy continues to grow strongly,
with more than USD 329 billion invested in green technologies in
2015. Renewables account for approximately 50% of new power
projects constructed, and now account for 23% of global electricity
supply and we see this percentage increasing as countries look
to meet their energy demands and green targets in the coming
decades*
Aon Risk Solutions
Global Broking Centre | Power
Risk. Reinsurance. Human Resources.
144
countries with renewable energy targets
23%of global electricity
The Green
Footprint
50%
of new
power
projects
10%of global
energy
*Source: Renewables 2015: Global Status Report
2. Risk. Reinsurance. Human Resources.
RE-GEN: a specialist solution
Recognising the need to develop solutions that reflect the demands of
the global onshore renewables sector and drawing upon our leading
insights into renewable energy risk, Aon has created RE-GEN, a facility
exclusive to Aon clients.
Developed with leading insurers in the renewable energy market,
RE-GEN offers specialist and comprehensive coverage specifically tailored for
global onshore renewable energy plant investors, developers and operators.
Leveraging economies of scale, RE-GEN is able to draw upon the diversity
of its portfolio and offer highly competitive and exclusive terms and
conditions for Aon power clients, while delivering USD 400 million of
dedicated capacity throughout the life cycle of a project.
“Developed with leading
insurers in the renewable
energy market, RE-GEN
offers specialist and
comprehensive coverage
specifically tailored for
global onshore renewable
energy plant investors,
developers and operators.”
RE-GEN : The details
Comprehensive Coverage
Bespoke wording to match the unique requirements of onshore
renewable energy projects
Cover is provided on an all risks basis and is designed to be fully
acceptable to debt financing institutions
Global coverage supported through Aon’s network of offices in
more than 120 countries
The solution offers coverage throughout the lifecycle of a
renewable project and includes coverage for marine cargo transit,
construction, delay in start-up, operating property damage and
business interruption risks, as well as third party liability exposures
USD 400 million of capacity is available through the facility
All project sizes are considered and the solution is suitable for a range of
onshore renewable facilities including onshore wind and solar energy.
3. Risk. Reinsurance. Human Resources.
Transit
Construction
Operation
What’s covered? What’s covered? What’s covered?
ƒƒ Marine cargo
ƒƒ Marine delay in start-up
ƒƒ Construction all risks
ƒƒ Delay in start up
ƒƒ Testing and commissioning
ƒƒ Natural catastrophe risk
ƒƒ Third party liability
ƒƒ Contingent business interruption
ƒƒ Mechanical breakdown
ƒƒ Business interruption
ƒƒ Contingent business interruption
ƒƒ Natural catastrophe risk
ƒƒ Third party liability
Engineering insight & risk control
ƒƒ Comprehensive benchmarking insights available to inform insurance buying and risk management
ƒƒ Engineering consultancy, ensuring your coverage reflects your specific project risks
In-house expertise
ƒƒ The facility is underwritten and managed by Aon Underwriting Managers
ƒƒ Aon is committed to the continuing development of RE-GEN to reflect the evolving needs of our renewable
clients
ƒƒ Aon has its own in-house RE-GEN underwriter, giving us a superior level of control and speeding up
turnaround times
ƒƒ With the use of risk modelling from RMS and Sequel we can benchmark risks and provide insight into
natural catastrophe exposure
Claims certainty
ƒƒ 24-hour claims service, helping to create certainty should a loss occur
ƒƒ In-house Claims Advocacy team to support our clients in the management of claims
Superior security
ƒƒ The facility is A+ rated* and backed by the Insurance Company Markets and Lloyd’s Chain of Security
* Standard & Poor’s