Login Register Subscribe
Current Issue

Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Hannover Re to reinsure German energy savings warranties

Reprints

Hannover Rück S.E. has launched an energy-saving warranty insurance product for industrial enterprises in Germany.

The product allows providers of energy-efficient solutions to guarantee the potential energy savings offered by retrofitting activities, the reinsurer said Thursday in a statement. The service will provide deficiency payments from the contractor backstopped by the coverage.

Hannover Re is reinsuring the energy savings warranties covered by primary insurers, it said in the statement.

Target clients include firms that improve exterior insulation, install heating systems or optimize lighting equipment.

“With this innovative insurance product, we would like to create additional incentives to invest in energy-efficient measures and reduce energy consumption in Germany,” Hannover Re CEO Ulrich Wallin said in the statement.

The reinsurer already has a similar warranty insurance program in the United States.