Renewable Energy Cyber Risk

FirstNRG Insurance Services provides access to unique cyber risk insurance product specifically designed to protect renewable energy projects from the growing threat posed by cyber attacks on proprietary and third-party IT or Operational Technology systems.

Cyber attacks, while increasing in regularity, are currently a low incidence risk, but when an incident does occur, losses are very high, due to the potential for a single attack that can compromise and delay the entire project.

In this case, losses can include not only Business Interruption costs resulting from project under performance, but also reputational loss, or theft, of valuable SCADA data.

Cyber Risk product, offers clients the opportunity to protect their revenues from the significant and potentially expanding risk posed by malicious cyber attacks and ransomware.

Renewable energy projects are at risk to two major cyber risks:

·  Exposure to ransomware that threatens to publish and corrupt confident data and to block access to project management systems, unless a ransom is paid.

·   Corruption of SCADA data so that it becomes worthless or causes operational problems.

The Product:

FirstNRG Insurance Services provides access to cover for loss of revenue, and incidental expenses, incurred by the Insured in the following circumstances:

·         Non-damage events leading to Business Interruption

·         Ransomware and cyber extortion

·         Digital asset destruction – including loss of use of SCADA data

·         Reputational harm

·         Cyber attack compromising critical third-party assets (e.g. transmission infrastructure)

FirstNRG Insurance Services offers clients the opportunity to protect their revenues from the significant and rising risk posed by malicious cyber attacks and ransomware on a global scale.