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GCube ups solar property coverage to US$0.5bn

GCube Underwriting Ltd, a provider of insurance services for renewable energy technologies, has grown its solar property coverage from US$300 million to US$500m for any single solar project or phase.

By Renewable Energy Focus staff

In response to increasing demand for solar power, members of the renewable energy insurance community are increasing their insurance coverage to support the booming industry, GCube says.

Solar energy developers are, in turn, increasingly looking towards specialist insurers who understand the associated risks of large-scale solar projects.

“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. 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,” says Tim Kinsella, Senior Vice President of GCube Insurance Services.

“By increasing our solar property coverage to US$500m, we have sent a clear message of support to the solar industry, and have cemented our position as a major insurer of solar energy technology.”

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Photovoltaics (PV)  •  Policy, investment and markets  •  Solar electricity