Tough times for renewable energy insurances

If 2019 was a bad year for renewable energy projects seeking insurance coverage, the global turmoil created by COVID certainly does not bode well for the renewable insurance marketplace in 2020.

Currently the renewable insurance marketplace continues in a state of transition created by several years of poor loss ratios, that pushed several insurers off the market and reduced the capacity of the remaining players. This is evidenced by the increased premiums and the heightened deductible structures seen when renewing insurance policies.

I have quickly sketched this chart summarizing the evolution of insurance premiums and deductibles of solar PV projects in Central America.

OAR Insurance Premiums and Deductibles

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