Management Consulting
Aon
Full Credential Description
A global solar power developer faced significant challenges in securing affordable insurance for its large-scale projects, which included risks associated with solar panel degradation, theft, and performance guarantees. Traditional insurance options were inadequate, leading the developer to explore alternative solutions. Through the establishment of an insurance captive via White Rock, the developer was able to create a suite of tailored insurance solutions that specifically addressed these unique risks. The implementation of the captive insurance model resulted in substantial cost savings for the developer. By retaining funds within the captive, the company could allocate resources towards research and development initiatives, which not only drove innovation but also contributed to reducing its carbon footprint and promoting long-term sustainability. This strategic approach enhanced investor and shareholder confidence, ultimately creating sustainable value for the company. The tailored captive insurance solution allowed the developer to navigate the complexities of the insurance market effectively, ensuring comprehensive coverage without the associated costs and regulatory capital requirements typically linked to traditional insurance models. This flexibility and control over risk management were crucial in supporting the developer's growth ambitions and facilitating the transition to renewable energy projects.