Aspen and kWh Analytics winners of Climate and Sustainability Collaboration Award of the Year by InsuranceERM

Aspen News, Product News

We are excited to announce that InsuranceERM, named Aspen and kWh Analytics winner in the category of “Climate and Sustainability Collaboration of the Year” during its inaugural Global Climate Risk & Sustainability Awards ceremony.

The judges awarded the Aspen-kWh partnership for its joint efforts in the field of climate and sustainability to produce an industry-first, data-led product that encourages resilient design, construction and management of solar assets. This collaboration comes during a time when traditional carriers have tightened their portfolio exposure, leaving many insureds with high premiums and inefficient coverage.

This product provides property insurance coverage against physical damage for solar and other renewable projects, introducing much-needed capacity to a rapidly growing industry. Furthermore, this partnership empowers Aspen and kWh Analytics to be dedicated to the sustainable growth of renewable energy and the acceleration of energy transition.

Jason Kaminsky, CEO of kWh Analytics, said: “What is most intriguing about our collaboration is how our laser focus on analytics and data are consistent with Aspen’s underwritingstrategy. Working together, we’ve found innovative ways to underwrite renewables to provide additional considerations for asset owners who are proactively designing, building and maintaining resilient assets.”

Josh Jennings, Aspen Insurance SVP, Head of Inland Marine and Property Programs, said: “Renewable energy is a tremendous opportunity – we estimate US$6-7bn of premiums for the sector globally this year. Recognizing this and how insurance can be a force for good and a catalyst for change, we combined our expertise with a shared vision to better serve asset owners and provide feedback on key exposures so they can become more resilient.”

In January of this year, kWh Analytics launched its Property Insurance for renewable energy assets with capacity partner Aspen. In April, Jennings spoke with pv magazine, a website dedicated to the U.S. solar photovoltaics (PV) community and is syndicated with Forbes magazine.

Kaminsky noted: “Resiliency considerations are a new concept in the renewable energy industry, and through our partnership, we are sharing market intelligence and incentivizing asset resilience to drive greater collaboration between asset owners and insurers to create a more sustainable economy.”

Jennings added: “Demand for an intelligent and data-driven property insurance offering has been strong and continues to ramp up. It’s been an honor to partner with kWh Analytics as their exclusive distributor for Aspen’s operational all-risk capacity, and this Global Climate Risk & Sustainability Award is simply icing on the cake!”