FM Global launches renewable energy division, plans global reach
Commercial property insurer FM Global has launched a renewable energy unit, bringing onboard a team of specialist product leaders, including a senior managing director from Beecher Carlson.
Initially serving the US and Canada, the new unit plans to expand globally later this year with the launch of a dedicated renewable energy insurance product. It aims to support the transition to renewable energy and enhance the industry’s resilience as it expands.
FM Global Renewable Energy will focus on research, standards development and loss-prevention engineering around utility-scale ground mounted solar, onshore wind power and battery energy storage systems (BESS).
The new division will be led by Jim O'Brien as division manager for Canada and Specialty Industries, Doug Patterson as head of renewable energy, Russell Jannetto as renewable energy client service leader, Chris Kosloski as renewable energy underwriting manager, Cassian Walker as renewable energy engineering manager.
Michael Perron, formerly senior managing director at Beecher Carlson, will join the firm as renewable energy market lead.
Patterson said: "The renewable energy landscape is complex and rapidly developing, and losses can be costly. We are investing in state-of-the-art solutions, services and industry expertise to help our clients succeed in the changing landscape. We want to help our clients future-proof their energy needs and support the overall industry as it evolves and grows."
FM Global said it aims to offer a new policy for renewable energy operation in the US in July. Next year it plans to offer a renewable energy construction policy to support clients from the design and build stage through operation of renewable energy assets. The company has completed six large research projects on solar, wind and energy-storage systems, with over a dozen additional projects currently underway.
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