Clean Energy Assets Face Coverage Risks, Zurich Insurance Says

Assets designed to help fight climate change may soon risk losing access to insurance unless they’re adequately shielded from extreme weather events.

Roughly 46% of Europe’s total renewable generation capacity will be at “critical risk” from the fallout of climate change unless owners do more to protect existing and planned assets, according to a report by Zurich Resilience Solutions, a unit of Zurich Insurance Group AG, and Mandala Partners. Energy storage and solar assets are particularly exposed, it said.

“If we don’t see a continued and increased focus on building resilience, it will be very difficult for us — ...