French reinsurance firm SCOR has unveiled the New Power Observe inside its speciality insurance coverage enterprise to expedite power transition.
Created to be a one-stop store, the observe will support prospects in dealing with the dangers and prospects within the present-day situation whereas transitioning to a sustainable future.
The observe will cater to the wants of the prevailing and potential purchasers throughout the globe, the reinsurer famous.
It additionally merges numerous insurance coverage merchandise and danger administration options of the corporate.
The choices will present safety to varied low-carbon applied sciences and enterprises.
Photo voltaic farms, offshore and onshore wind farms, hydrogen, interconnectors, carbon seize, biofuels, and batteries comprise these applied sciences.
The New Power Observe will leverage the data of the corporate’s underwriting, danger engineering and claims specialists throughout numerous sectors.
Moreover, the observe will concentrate on establishing long-term collaborations.
In a press assertion, the corporate mentioned: “SCOR understands the distinctive necessities of purchasers within the new power discipline, together with the necessity for monetary safety and danger mitigation all through the lifecycle of a challenge.
“By offering end-to-end protection – from challenge financing, authentic gear manufacturing and credit score danger switch to challenge development, operation, and decommissioning – the brand new power observe ensures that the group’s purchasers are protected at each stage of their power transition journey.”
By the brand new observe, the corporate will ship insurance coverage for development, property, legal responsibility, political and credit score danger, cyber and different danger switch options.
In Might 2023, SCOR named François de Varenne as its new group CFO and deputy CEO.
