Renewable energies

If the industrialised countries are to halve emissions by 2050 as announced, there is no alternative to renewable energies. Munich Re’s innovative insurance products are designed to increase the share of renewable energies in global energy supplies.

Nature provides basic resources for clean, modern energy, such as sun, wind, water, geothermal heat and biomass. Victoria supports technological developments in the use of renewable energies and offers insurance for the energy sources of the future. In July 2005, Victoria introduced special all-round covers for renewable energy plants. Victoria is thus not just one of the top providers in the market but probably the only insurer in the world to offer specially conceived terms and conditions.

Victoria and EnergieAgentur.NRW have published two comprehensive guides: one on renewable energies and energy efficiency and the other on energy-saving in the home.

It also offers policyholders a comprehensive mortgage service with information on ecologically sound building techniques. These take into account any grants that may be available for installing solar systems or heat pumps.

In 2004, Munich Re published a specialist brochure on renewable energies – their scientific and technical background, the risk situation and their relevance to insurance – to coincide with the first international conference on renewable energies. Since 2007, a Munich Re project group has been looking at new and viable renewable energy insurance solutions. There are still few reliable loss statistics for this relatively young sector. We will use our knowledge and the experience we have acquired with other technologies to devise covers for the technologies of the future. Insurance solutions are crucial if industry is to unlock its full market potential.