Solar Power World

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GCube's property coverage for solar projects includes transit, construction, operational all risks, mechanical and electrical breakdown, delay in start up, advance loss of profits and business interruption (including tax credit and other financial incentives).

Encouraged by improving tariffs, subsidies, and infrastructure, many countries are increasingly turning to the solar industry to meet 2020 climate targets. The news comes at a particularly bullish time for large-scale solar projects. In response, renewable energy insurance companies are expanding their coverage to support the solar industry.

As an insurance provider to the renewable energy industry, GCube has expanded its solar property coverage from $300 million to $500 million for any single solar project or phase. ”We expect to see large-scale utility projects around the globe really start to take off as a result of the various government incentives promised between now and 2020,” says Tim Kinsella, senior vice president of GCube Insurance Services. ”It will require a concerted effort from the insurance community to support these large-scale projects and thus sustain the expected levels of growth in the global solar industry.”

And with the recent appointment of the company’s President of Insurance Services John McLane, GCube looks to expand its risk management solutions.

GCube Insurance Services www.gcube-insurance.com