Master Builders Risk
Renewable Guard
Approach
As the Innovator of a Master Builders Risk program, Renewable Guard has significantly differentiated itself from our competitors. We worked closely with an A rated market to develop a builders risk program to provide our clients with superior coverage at rates that are 20% – 30% lower than market. Our program removes or reduces waivers, is commercially viable, and transfers CAT/deductible risk to the insurance carrier.
Benefits included:
Full Cat limits vs. cat sublimit
In some instances, we are able to provide full CAT limits for severe weather on projects. For more CAT-exposed projects, we integrated our parametric solutions with our MBR to achieve higher CAT limits at more affordable terms.
CAT deductibles that are % of loss vs % of limit – Namely Severe Convective Storm (Tornado/Hail)
On a large utility-scale project, this can be the difference between a deductible in the hundreds of thousands vs. millions.
Contingent Delay in Start-Up coverage (We see others unwilling to offer this financing party requirement for many projects).
This pays for lost income if a damaged non-owned substation or property prevents your project from sending electricity back to the grid.
LEG 3 Coverage
LEG coverage addresses a loss caused by faulty design, materials, or workmanship. Most standard policies exclude rectification costs for preventing damage. LEG 3 broadens coverage to include those costs but will not cover costs to upgrade the system.