Zurich and Aon Pave the Way for Clean Hydrogen with Innovative Insurance Solution
Key Ideas
  • Zurich and Aon have collaborated to launch a pioneering insurance facility catering to blue and green hydrogen projects, aiming to accelerate the transition to clean energy.
  • The comprehensive insurance coverage provided includes various phases of hydrogen projects, from construction to operational stages, addressing complex risks and unique needs of developers and capital providers.
  • The significant oversubscription of the facility by insurers showcases the industry's readiness to support sustainable solutions and take on new risks, reinforcing the market's appetite for clean energy initiatives.
Zurich Insurance Group and Aon have introduced a groundbreaking clean energy insurance facility to support blue and green hydrogen projects worldwide with up to USD 250 million in capital expenditures. This initiative, led by Zurich and exclusively brokered by Aon, aims to boost the development of clean hydrogen initiatives and aligns with Zurich's commitment to the net-zero transition. The insurance coverage includes construction, operational, and risk management aspects of hydrogen projects, providing a comprehensive solution. Both blue and green hydrogen are supported, with a focus on reducing carbon intensity and utilizing renewable energy sources. The facility also covers technologies like carbon capture, utilization, and storage, offering a complete suite of solutions for hydrogen production. The oversubscription of the facility by insurers signifies a strong interest in sustainable solutions and readiness to cover new risks. Clean hydrogen's potential in various sectors like transportation, heating, industrial processes, and energy storage is highlighted, emphasizing its role in the transition to eco-friendly alternatives.
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