Article ID: 0b989e4ab18240616577652f1f317a38624781dba832d66dc3b7529b20ae309a
Source ID: secondary:businessinsurance.com
Published At: -
Extraction Method: bs4_heuristic
URL: https://www.businessinsurance.com/renewable-energy-risk-rate-reductions-of-up-to-30-forecast-willis/
Body Text
Renewable energy risk rate reductions of up to 30% forecast: Willis - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Renewable energy risk rate reductions of up to 30% forecast: Willis by Claire Wilkinson Agents and Brokers , Asbestos & Environmental , Catastrophes , Energy , P/C Insurers , P/C Pricing , Risk Management Willis Towers Watson Jun 17, 2026 Some renewable energy risks could see rate reductions of up to 30% at renewal as market conditions continue to soften amid abundant capacity and strong competition among insurers, Willis said Wednesday in a report. Tier 1 accounts — well-engineered risks with clean loss records and large premium volumes — are expected to see rate reductions of 20% to 30%, while Tier 2 risks could see reductions of up to 10% to 15%, according to Willis’ Renewable Energy Market Review 2026. Pricing for loss-affected programs will depend on the severity of claims. The renewable energy insurance market remains in a sustained softening phase, driven by abundant capacity, new market entrants and increased competition among insurers seeking to expand their participation in the sector, the report said. Most placements are oversubscribed, with insurers showing appetite for both lead and follow positions. Competition is improving terms for accounts that provide detailed engineering information, strong maintenance records and high-quality risk data, the report said. Well-performing, data-rich risks are benefiting the most from the soft market, according to the report. Despite hail and severe convective storm losses in the first quarter, including in the United States, Saudi Arabia and Australia, the claims are not expected to alter the market’s downward trajectory because losses were spread across a broad panel of insurers, Willis said. Coverage for natural catastrophe risks remains widely available, the report said. Underwriters remain focused on natural catastrophe exposures, equipment complexity and emerging technologies, reflecting the sector’s relatively limited loss history compared with more established energy industries, the report said. Accounts that demonstrate strong risk management and sophisticated catastrophe analytics are best positioned to secure favorable terms, Willis said. Overall market performance remains strong, with average combined ratios below 90%, supporting expectations for further softening through 2026, the report said. Related News Earthquake leaves widespread damage in Indonesia June 17, 2026 El Niño to reshape reinsurance, ILS risks: Twelve Securis June 17, 2026 EU to review Zurich’s Beazley takeover June 17, 2026 Reported U.S.-Iran deal fails to quell Hormuz risks June 17, 2026 China AI rollout grows despite growing risk exposure June 17, 2026 Fujitsu chair resigns over inappropriate conduct June 17, 2026 Summers joins Willis Re as specialties CEO June 17, 2026 Property claims costs hit by Middle East conflict June 17, 2026 Lockton taps new Canada CEO June 17, 2026 Facebook-f X-twitter Linkedin-in Business Insurance is a singular, authoritative news and information source for executives focused upon risk management, risk transfer and risk financing. Never miss important news: Become a Business Insurance Online subscriber today Subscribe Now Information About Us Contact Advertise Privacy Policy Terms & Conditions Copyright 2026. BUSINESS INSURANCE HOLDINGS Member, Beacon International Group, Ltd.
Metadata (JSON)
{
"score": 13.233333333333333
}