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Why solar is a huge broker opportunity

June 28, 2024

Noor Energy 1, an iconic solar power plant in the United Arab Emirates has likely suffered hundreds of millions of dollars of losses following an April storm. Noor 1 is a concentrated solar power (CSP) operation with a 260 meter high tower – the tallest solar tower in the world.

In recent days, reports have said that AIG is one of the insurers, and the brokerage that placed the risk was Marsh.

However, one reason this dramatic loss stands out is because, over the last couple of years, better risk management in the renewables sector has made inroads, including against hailstorm challenges. The sector is growing rapidly as demand for clean energy increases. Many industry experts see enormous potential in the solar sector – including for insurance brokers.

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