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MUNICH--(BUSINESS WIRE)--Hithium, the stationary battery producer, announced the agreement with Munich Re to provide warranty reinsurance for its energy storage systems (ESS).The reinsurer will
Munich Re is offering insurance policies for 10 years to cover "major projects, such as those to ensure grid stability or to cover peak demand periods.". The first storage product to receive
Munich Re''s offshore EPC cover insurance mitigates contractual warranties for offshore wind contractors (EPC & T&I), manufacturers and suppliers after project hand-over Electrical Energy Storage Systems Insurance. Industry Clients. E-Mobility – Enabling the mobility transition. Industry Clients. Cyber solutions for industry clients. Topics.
Global reinsurance giant Munich Re has agreed to provide warranty reinsurance for battery manufacturer, Hithium, energy storage systems (ESS). The reinsurer will cover both product and performance warranties. The agreement will thus reduce ESS project owners'' risk as well as Hithium''s, providing system owners with
PADERBORN, Germany & MUNICH, June 14, 2023--Today the energy storage provider INTILION signed a long-term collaboration agreement with Munich Re Group ("Munich Re"), the world''s largest reinsurer
Insurer Munich Re has launched what it claims is the world''s first long-term insurance plan for battery performance, signing up ''all-iron'' flow battery maker ESS Inc as its first customer. One of the insurer''s management board, Peter Röder, described the ability to insure battery performance as a missing "key piece of the puzzle in
Company''s 10-year battery warranty backed by Munich Re now covers Energy CenterTM solution and next-gen electrolyte management system for utility-scale applications. PORTLAND, OREGON – September 16, 2021 – ESS Inc., the leading manufacturer of safe, low-cost and long-duration energy storage systems, announced
For five decades, Munich Re has been analysing the effects that global warming and natural climate variations have on weather-related natural disasters. We focus on the risks involved as well as on loss prevention and new risk transfer concepts. We make use of long-term meteorological and loss data to understand changes in risk and to adjust
Our offering. We provide propotional and non-proportional insurance covers for ownes, operators and contractors of power plants and utilities. Coverages. Construction and Erection All Risk. Delay in start-up insurance. Liability. Operational All Risk, incl. Business Interruption. Parametric Cover solutions. Multi-Line of Business structures.
Munich Re is one of the world''s leading providers of reinsurance, primary insurance and insurance-related risk solutions. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage
Munich Re is one of the world''s leading risk carriers and stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. The Group operates
Munich Re, with its deep understanding of risks, is in a strong position to partner with today''s downstream energy companies in transitioning to tomorrow''s energy economy. With special risk-transfer solutions for
At RISKWORLD 2024 in San Diego, Risk & Insurance® sat down with Doug Akerson, executive vice president and MRF&C head of North America Energy, Power & Construction at Munich Re. An engineer by trade, Akerson has been a broker, an underwriter and provided due diligence on technology portfolios over the course of his
7. SHARES. The world''s largest reinsurer, Munich Re, has announced it will stop investing in and insuring new oil and gas fields, infrastructure, and power plants as of April, 2023. The German multinational''s new policy is a "significant step and a clear signal to the global insurance market," advocacy campaign Insure Our Future said in
Munich, Oct 26, 2023 — Hithium, the stationary battery producer, announced the agreement with Munich Re to provide warranty reinsurance for its energy storage systems (ESS). The reinsurer will cover both product and performance warranties. The agreement will thus reduce ESS project owners'' risk as well as Hithium''s, providing system owners
Insurance for downstream industries with 35 years of market knowledge. Munich Re logo. Not if, but how. Munich Re Facultative & Corporate (F&C) Risks. Solutions. Insights. Company. Careers. Open. Explore Munich Re Group. Close. Get to know our Group companies, branches and subsidiaries worldwide. Optimum insurance cover for
The company backed the flow battery developed by ESS with a decade-long performance guarantee, a first in energy storage technologies.
Munich RE''s1 coverage for battery storage systems provides protection against excessive costs for repair and replacements due to component failure or unexpected capacity degradation, and potentially also the insolvency of a key component or system supplier. It is aimed at players all along the value chain: component suppliers, manufacturers
Green technologies, including those in the Circular Economy, face the daunting task of managing the transition to a low carbon future. As part of the goal of net zero emissions by 2050, new business opportunities are opening up for the Circular Economy industry, which in turn require new insurance solutions.. Munich Re supports the energy transition by
17th September 2021 - Author: Staff Writer. ESS, a manufacturer of low-cost and long-duration energy storage systems, has secured an investment from reinsurance giant Munich Re, allowing for expanded coverage of its Energy Center. The policy provides a warranty backstop for ESS''s proprietary flow battery technology and electrolyte
For more information, visit or Electrical Energy Storage Systems Insurance | Munich Re. Contacts Financial Press Contact INTILION: Monika Collée E-Mail: Monika llee@intilion
Talk with Munich Re''s Green Tech Solutions to find a suitable insurance solution that will enhance your product''s reliability and protect your balance sheet on a long-term basis.
Munich Re is a world leader in the development of new insurance solutions for climate-friendly technologies. In addition to its new battery performance insurance, Munich Re has been offering performance coverage in other areas of the renewable energy sector for several years, for example for solar and wind parks and fuel cells.
1. Stefanie Pawlitschko. Underwriter Energy Storage - Green Tech Solutions Munich Re - Energy Transition now! 🔋⚡️. 5y. Spawlitschko@web . Let´s catch up at our booth 9C31.3. - the Munich
Our renewable energy insurance solutions provide coverage for construction and operational exposures for wind, solar, and battery energy projects. Munich Re Syndicate''s team of renewable energy underwriters are part of the Munich Re Specialty Group Green Solutions division. We work closely with insurance brokers to provide
As the North American Business Leader for Green-Tech Solutions at Munich Re, I lead a team of experts who offer various insurance products and services for battery/energy storage, solar, wind
Munich RE provides an insurance backstop to the product and performance warranties of an integrator and operator of lithium-ion battery storage systems in the commercial and
ESS Supplier must provide a warranty for the proposed Energy Storage System for the project for at least 10 years of operation. Supplier to define key operating parameters in warranty, including, but not limited to capacity, efficiency, temperature, availability. Supplier to define operations and maintenance requirements for warranty
To scale your green hydrogen business you need to convince investors to provide sufficient capital and prospects to trust the performance of your technology. Munich Re''s HySure risk transfer helps to de-risk large-scale projects: Product and performance guarantees for electrolyser manufacturers pave the way for more financial stability by
Insurer Munich Re has launched what it claims is the world''s first long-term insurance plan for battery performance, signing up ''all-iron'' flow battery maker ESS
June 20, 2023. This year''s show in Munich was the biggest to date. Image: Solar Promotion. Part 2 of our look at ees Europe 2023 focuses on some of the many product and solutions launches, spanning various scales and applications of energy storage. Taking place in Munich, Germany, and incorporated into (some might prefer the term ''co
Munich Re''s primary and reinsurance products and services protect the full range of vessel, cargo and marine equipment size and function, the liabilities and hazards related to transporting passengers and cargo around the world, the construction and operation of sustainable energy platforms, and the handling of freight in port and beyond.
14th June 2023 - Author: Kassandra Jimenez-Sanchez. German reinsurance giant Munich Re has signed a long-term collaboration agreement with INTILION to insure its large-scale energy storage system. The insurance product offered by Munich Re provides the company with the ability to insure against clients'' claims arising under the warranty and
ESS, a manufacturer of low-cost and long-duration energy storage systems, has secured an investment from reinsurance giant Munich Re, allowing for
Munich Re, with its deep understanding of risks, is in a strong position to partner with today''s downstream energy companies in transitioning to tomorrow''s energy economy. With special risk-transfer solutions for project- or performance-related risks and natural catastrophe covers, insurers can play a key role as enablers and credit risk
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