Solar Power

Solar Power Developers and Energy Producers

 Solar power plants developers and energy producers face unique, and potentially catastrophic risks. To manage these risks effectively, we design specialized insurance to meet the needs of your organization according to the solar industry.

FirstNRG specializes in these complex risks and delivers customized choices for your protection. The strong relationships we build with our insurance carriers ensures you to have unlimited access to companies with capabilities specialize in the renewable energy industry.

FirstNRG Offers a Package Approach that features valuable products for the renewable energy industries.

To project developers we arrange third party (public) liability insurance and professional liability insurance including:

1. General Liability Insurance

Provides protection for bodily injury and property damage arising from your business activities.

2. Professional Liability Insurance/ Errors and Omissions (E&O)

Covers whole spectrum of vendors and industry related professionals like engineers, installers and solar project designers.

3. Workers’ Compensation Coverage 

form of insurance providing wage replacement and medical benefits to employees injured on the job.

Construction/Erection All Risks

This policy covers physical loss or damage to property, as well as third party liability related to work conducted on the contract site.

Cover includes: The coverage for physical loss or damage to property is on an “All Risks" basis, i.e. the policy insures against damage to property in the course of construction by all sudden, accidental and unforeseen causes other than specified excluded perils and forms of damage.

Additionally, the policy includes coverage for physical loss or damage to construction plant & machinery, equipment and tools used per the insured contract.

CAR insurance also includes third party liability coverage. This insures against accidental bodily injury or illness to third parties as well as accidental loss of, or damage to property belonging to third parties, caused by an accident at the construction site.

1. Transport/ Cargo insurance

Cargo insurance provides coverage against physical damage or loss of modules, inverters, structure, etc. during shipping, whether by land, sea or air.  The coverage starts when you buy the materials from manufacturer plant and ends on the PV construction field / warehouse, including loading and unloading.

2. Personal accident of the EPC’ s employees

PA policy cover all employees of the EPC contractor while they are on the site. Renewable Energy Insurance Broker delivers peace of mind with a range of personal insurance covers for accidental death, total or partial disability, temporary disability, etc. for the workers.

3. Employers Liability insurance

An insurance policy that protects employers from liabilities arising from disease, fatality, or injury to employees resulting from workplace conditions or practices. Please note that some jurisdictions make it compulsory for employers to buy such insurance.

4. Еrrors & omissions (E&O)

Еrrors & omissions (E&O) is a form of liability insurance that helps protect professional service-providing companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit.

5. Workers’ Compensation Coverage

Form of insurance providing wage replacement and medical benefits to employees injured on the job.

6. Equipment Floater In particular the policy includes coverage for physical loss or damage to the construction plant & machinery, equipment and tools. Coverage starts while solar equipment is in transit to the project site and ends once the job is completed, or the owner accepts the work.

7. Performance bonds

Operational All-risk property protection

Insured is the solar power plant described in the insurance contract and all parts which belong to the solar plant, in particular:

·         Fences, cabling

·         Devices which are for the purpose of infeed such as transformers, network infeed stations and underground cables

·         Foundations, load-bearing constructions

·         Operational buildings and containers on the plant

·         Transmission equipment for monitoring

1.Property damage

This insurance covers material damages due to external causes such as fire, theft, vandalism, sabotage, hail damage, snow load, lightning strike, overload, operational mistakes, clumsiness and negligence and animal bite. Also the consequential losses as a result of the damage such as labor, transport costs and prevention costs are covered.

2. Machinery Breakdown

Insurance covers unforeseen and sudden physical damage to any solar equipment from your solar project by any cause necessitating repairs and/or replacement.

3. Business Interruption

Business interruption coverage and extra expense insurance is available. We evaluate previous production levels and current marketplace value, among other factors, to determine the appropriate level of business income coverage you need. More info how it works.

4. Liability insurance

Provides protection for bodily injury, property damage, personal injury and advertising injury. It includes general liability insurance for existing renewable energy operations, as well as newly acquired or newly formed organizations.

Operational ALL-Risk Optional Coverages

1. Natural disaster

The natural disasters coverage insures risks such as flood, earthquake, volcanic eruptions, tsunami, bushfires, typhoons and hurricanes. The premium is based on the exact location. To provide a quote we need to receive the exact GPS-coordinates of the location.

2. Contingent Business Interruption (CBI)

Contingent Business Interruption covers business interruption of the installation as a result of the first non-owned substation being damaged due to a sudden and unforeseen physical damage or loss. Due to this damage or loss of the non-owned substation it’s impossible to supply electricity to the grid. There is no physical damage or loss of your own insured PV-installation.

3.Terrorism Risk Insurance Act

The Act created a federal “backstop" for insurance claims related to acts of terrorism. The Act “provides for a transparent system of shared public and private compensation for insured losses resulting from acts of terrorism.