- Appetite
- Renewable energy specialist; strong first approach for storage property, construction and liability cover.
- Check
- Check standalone versus co-located storage appetite, technology acceptance, fire protections and business interruption terms.
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Reading the risk
For: Battery storage site
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What underwriters will focus on
Battery energy storage site: establish whether construction or operational cover is needed, alongside battery chemistry, capacity and values. Underwriters will focus on thermal runaway, fire propagation, container separation, suppression and replacement lead times.
Where to start
Lloyd's Syndicate 1225 (AEGIS Managing Agency) Source
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We found 130 UK markets that write battery storage site risks: 37 insurers, 81 MGAs and 12 Lloyd's markets. Commonly listed: GCube, AEGIS London.
Thermal runaway and fire spread between containers are the key worries, so cell chemistry, spacing, detection, suppression and manufacturer track record are examined. Construction phase and operational cover are often placed separately.
BESS, battery energy storage system, grid-scale battery, energy storage project