The new insurance product can cover project construction and startup
Marsh launches first hydrogen project insurance
Insurance product will boost investor confidence as project risks covered through construction and startup phase, London-based broker says
London-based insurance broker Marsh has launched the world’s first insurance product designed specifically for green and blue hydrogen projects. The launch of the new product, which is aimed at both small developers and large multinationals, comes as hydrogen projects find it “particularly challenging” to secure adequate insurance cover, Marsh says. The ability to insure projects should help to reduce risk and boost investor confidence as the industry scales up. $300mn – Cover per project risk category “Marsh’s facility is an important development for the insurance industry that will help enable the acceleration of the global energy transition to renewables,” says Andrew George, Mars
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