Marsh has introduced an insurance and reinsurance facility for new and existing green and blue hydrogen energy projects.
Developed in collaboration with insurers Liberty Specialty Markets, part of Liberty Mutual Insurance Group, and AIG, the facility provides up to US$300m of cover per risk for the construction and start up phases of hydrogen projects globally.
Investment in green and blue hydrogen initiatives is estimated to exceed US$150bn by 2025 as traditional energy operators, governments, and hard-to-abate industries race to meet their carbon reduction obligations. However, operators have found it particularly challenging to secure adequate insurance market provision for these new and emerging technologies.
Marsh’s facility is backed by a panel of A-rated global insurers, led by Liberty Specialty Markets and AIG.
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