The Renewable Guard Insurance Scorecard was created to address a major concern shared by most Independent Power Providers and Project Sponsors: How does my insurance program compare to the rest of the market? Up until now, the answer to that question came from two sources that might be a bit biased.
The Analysis Summary is a provided as a high-level overview of the insurance program benchmarking. At a glance, you will be able to see where your coverage stands with respect to market standards, with a score and explanation attached.
Understanding the project’s characteristics, such as size, type, and location, is key to our review. In this section, we summarize key areas of concentration, including Catastrophic perils exposure, that allow for benchmarking against your peers.
Main Program Overview
The Main Program Overview is where all coverage details are analyzed to be below, at, or above market standards. This area of review is provided as an easy to understand graphic for all levels of insurance knowledge.
Financing Party Overview
The salient points of coverage, as it relates to your financing agreements, are reviewed to determine compliance. Given important relationships with financial counterparties, this review is crucial in determining your benchmarking compared to peers.
The Score Analysis synthesizes the total review of the insurance program into a score that is easy to understand. In this area of benchmarking, we compare the program’s score to that of your peers and market standards.
As part of the thorough review, Renewable Guard presents recommendations to be implemented for areas of coverage that are found to be below market standards or out of compliance with your financing parties. We offer coverage improvements through your current broker or, if preferred, by the Renewable Guard team.