#Renewable Energy #Luxembourg #Luxembourg City #EMEA #FM Insurance

FM Insurance Launches Renewable Energy Division in EMEA Region

FM Insurance, a frontrunner in commercial property insurance, has strategically launched a new insurance policy dedicated to renewable energy operations, now accessible to clients across the Europe, Middle East, and Africa (EMEA) region. This significant move is aimed at assisting clients in their transition to renewable energy sources, backed by decades of research and engineering in energy production.

The initiative underscores FM's commitment to supporting the renewable energy sector by providing innovative solutions and research to navigate the complexities of this rapidly evolving market. With the anticipated acceleration of growth in the renewable energy sector driven by climate emission reduction targets, FM's introduction of this operational policy is timely. The firm acknowledges the challenges emerging from new technologies and the increasing vulnerability to loss events particularly associated with climate risks.

Doug Patterson, Senior Vice President of FM's Forestry Products and Renewable Energy Division, expressed enthusiasm about this expansion: "We are thrilled to offer our renewable energy services and solutions to more FM clients globally. Leveraging our research and engineering capabilities in risk mitigation, we are uniquely positioned to support our clients as they transition their energy strategies and help lead the renewable energy sector’s evolution."

Previously, FM had announced the establishment of its Renewable Energy Division, which focuses on research, standard development, and engineering for loss prevention in solar ground systems, onshore wind energy, and Battery Energy Storage Systems (BESS). For 70 years, FM has been serving energy producers across various segments, including hydropower, biomass, and waste-to-energy conversion. The division assists stakeholders in designing, building, and operating resilient and reliable energy projects while ensuring long-term protection against potential risks.

Renewable energy projects face a broad spectrum of risks, ranging from severe weather patterns such as hurricanes and hailstorms to lightning strikes and equipment failures. To address these challenges, FM offers a suite of products and services designed to safeguard renewable energy operations. This includes comprehensive climate change impact reports, enterprise risk consulting, and research-based documentation to help clients effectively manage their risks and adapt to the changing landscape.

FM was established nearly two centuries ago and stands as a leading mutual insurance company. Its capital, scientific research capabilities, and engineering expertise are entirely dedicated to managing property risks and enhancing the resilience of its clients—property owners who collectively believe that most property losses can be prevented. FM collaborates with influential organizations, including four of the Fortune 500 companies, helping them understand the dangers that could impact their business continuity to make cost-effective risk management decisions, marrying loss prevention with insurance coverage.

For further information about FM and its new initiatives in renewable energy, you can view their logo here.