#USA #Renewable Energy #Luxembourg #Insurance #FM Renewable Energy

FM Renewable Energy Expands Insurance Offerings to EMEA Region

In a significant step towards fostering sustainable energy practices, FM, a well-established commercial property insurer, has announced that its insurance policies tailored for renewable energy operations are now accessible to clients across Europe, the Middle East, and Africa (EMEA). This expansion brings decades of expertise in energy production engineering and research to this dynamic market, offering vital support to businesses seeking to transition towards renewable energy sources.

The new insurance offering from FM aims to empower clients in the EMEA region by facilitating their shift to alternative energy solutions through research innovations and industry advancements. As the drive to meet climate emission reduction goals continues to accelerate, the renewable energy sector is poised for growth, though it faces challenges such as adapting to new technologies and increased susceptibility to risks posed by environmental factors, particularly climate-related disasters. FM's introduction of operational policies for renewable energy in the EMEA is designed to help its clients navigate this rapidly evolving risk landscape.

Doug Patterson, Senior Vice President of FM Renewable Energy, expressed his enthusiasm for this expansion, stating, "We are excited to broaden our renewable energy services and solutions to more FM clients globally. With FM’s research capabilities and engineering-based approach to risk mitigation, we are uniquely positioned to assist customers in their energy transition, playing a significant role in supporting the evolving renewable energy industry."

FM announced the establishment of FM Renewable Energy last year, focusing on the research and development of standards and technologies aimed at minimizing losses in sectors like solar farms, onshore wind farms, and battery storage systems (BESS). Serving the power-generating sector for over 70 years, FM has offered coverage to a diverse array of energy sectors including hydropower, biomass, and waste-to-energy initiatives. FM Renewable Energy collaborates with leading firms to plan, develop, and operate robust and dependable energy projects while ensuring their long-term protection.

Renewable energy projects face numerous challenges ranging from wind storms and hail to lightning strikes and equipment failures. In response, FM provides a comprehensive suite of products and services to protect renewable energy operations, which includes climate change impact reports, business risk consulting, and research-based data sheets that equip companies with actionable insights.

About FM

Founded nearly two centuries ago, FM is a leading mutual insurance company dedicated to risk management for property and enhancing the resilience of its policyholders. The organization represents some of the world's largest entities, including one in four Fortune 500 companies. These clients partner with FM to better understand the hazards that could affect their business continuity and to make cost-effective risk management decisions. By merging loss prevention strategies with insurance coverage, FM enables its clients to effectively manage potential risks and safeguard their operations.

With this latest initiative, FM is set to play a pivotal role in the ongoing energy transition across the EMEA region, serving as a reliable partner for organizations focused on sustainable energy solutions.