Posted on 17 Sep 2010
With the U.S. energy industry on the verge of a "renewable revolution," fueled by state-level renewable portfolio standards and significant investments by public and private entities, companies engaged in renewable energy will need to protect their assets and investments while seeking ways to capitalize on the industry's tremendous growth potential.
The Hartford Financial Services Group, Inc. today announced the formation of its Renewable Energy Unit to address the unique and evolving needs of the rapidly growing renewable energy industry. The new unit will provide specialized underwriting and a full suite of property and casualty insurance products and services for makers, builders and operators of renewable energy.
"We are pleased to launch The Hartford Renewable Energy Unit as the latest example of our strategic focus on providing tailored solutions for specific customer segments," said Juan Andrade, president of The Hartford's Commercial Markets. "With the infusion of billions of dollars from investors, venture capitalists and the U.S. government, the renewable energy industry is poised to become a sizeable source of economic activity and important market for insurance products."
The Hartford has appointed James Gardiner to lead the Renewable Energy Unit. Gardiner will be responsible for the unit's overall execution and management with a focus on business development. Gardiner has played a key role in The Hartford's expansion into the renewable energy industry. He has represented The Hartford on the American Council on Renewable Energy (ACORE) since 2009, serving as co-chair of its risk management working group and a member of the finance and investment committee.
Gardiner is also collaborating with the California Clean Energy Fund (CalCEF) to understand the risk management needs of and potential solutions for early stage renewable energy companies, and his team has contributed to a National Renewable Energy Laboratory study.
The Hartford also announced that John Davison has joined the company as renewable energy underwriting director, reporting to Gardiner. Davison brings more than 30 years of underwriting experience in the energy and related industries. He will be responsible for shaping The Hartford's underwriting position and helping to deepen relationships with specialist distribution partners. Most recently, Davison served as senior underwriter in the global energy division of Zurich Insurance. He will be based in The Hartford's Houston office.
The Renewable Energy Unit will be based in The Hartford's Southwest Regional office, under the leadership of Regional Vice President Tim Nelligan. Gardiner will work closely with Nelligan in establishing The Hartford's renewable energy field distribution strategy, with an initial focus in Texas, California and New Jersey this fall and a broader rollout planned for 2011.
"Our Southwest Regional office is well-equipped to serve as the hub of our renewable energy practice," said Andrade. "The Renewable Energy Unit will work closely with our sales team to identify opportunities for collaboration with agents and brokers in serving the needs of customers in this growing industry."
The Hartford has been insuring renewable energy risks for more than 20 years, with broad expertise in loss control, underwriting and claims management for this industry.
To learn more about The Hartford's offerings for the renewable energy industry, contact:
James Gardiner at (469) 287-1012 or firstname.lastname@example.org
Tim Nelligan at (469) 287-1010 or email@example.com
John Davison at (281) 877-3882 or firstname.lastname@example.org