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

FM Renewable Energy Launches Innovative Insurance Policy in EMEA Region

In a significant move towards supporting sustainable practices, FM, a leading commercial property insurer, announces the availability of its renewable energy operations insurance policy for clients across Europe, the Middle East, and Africa (EMEA). This launch comes as part of FM's commitment to assist customers in their shift towards renewable energy solutions, utilizing decades of expertise in power generation and engineering.

Empowering Clients in Transitioning to Renewable Energy

The insurance policy offered by FM is designed to help EMEA clients navigate the complexities associated with transitioning to alternative energy sources. It aims to provide invaluable support backed by thorough research and innovation, thus reinforcing the overall advancement of the renewable energy sector. Given the increasing pressures of climate change, more businesses are being urged to adapt, prompting an expedited growth in renewable energy investments. This new insurance offering is timely amidst the rising demand for protection against emerging risks linked to modern technologies and heightened vulnerability to climate-related events, such as storms and equipment failures.

Doug Patterson, Senior Vice President of Forest Products and Renewable Energy at FM, expressed enthusiasm regarding this expansion, stating, “We are thrilled to broaden our renewable services and solutions to more FM customers globally. With FM's extensive research capabilities and engineering-driven risk mitigation strategies, we are uniquely positioned to assist our clients with their energy transition and to play a pivotal role in supporting the evolving renewable energy industry.”

A Legacy of Expertise in Energy Risk Management

FM Renewable Energy was announced last year, focusing on research and engineering to enhance loss prevention surrounding battery energy storage systems (BESS) and utility-scale solar power projects. With over 70 years of service to various energy sector generators, including hydro, biomass, and waste-to-energy operations, FM aims to help project leaders design, construct, and operate resilient energy projects while ensuring long-term protection.

Renewable energy projects involve various risks, from severe weather impacts such as windstorms and hail to lightning strikes and equipment malfunctions. To mitigate these challenges, FM provides a comprehensive suite of products and services, including climate change impact reports, business risk consulting services, and detailed research-based fact sheets. By addressing these significant risks, FM enhances the resilience and sustainability of renewable energy operations.

About FM

Founded nearly two centuries ago, FM is a leading mutual insurance company focusing exclusively on property risk management and resilience. It serves numerous large organizations, including one in every four Fortune 500 companies, who partner with FM to deepen their understanding of risks that could disrupt their operations. By combining property loss prevention strategies with robust insurance protection, FM promotes effective risk management tailored to the unique needs of its clients.

As the renewable energy landscape continues to evolve amidst global climate concerns, FM's commitment to providing specialized insurance solutions reflects its dedication to advancing both business resilience and sustainability. This innovative policy marks a promising step forward in supporting the industry's shift towards cleaner energy practices, underscoring FM’s role as an industry leader committed to safeguarding the future.