Dual unveils energy retrofit and environmental investment covers

By Rebecca Delaney

May 13 - (The Insurer) - Dual's newly formed climate risk and resilience team has launched its first two products with offerings for energy efficiency retrofit and environmental investment protection.

Howden's MGA arm formed the climate risk and resilience underwriting team in March, with a remit to launch insurance products to enable businesses to address the challenges and opportunities associated with decarbonisation, sustainability and net zero.

The energy efficiency retrofit product aims to provide energy performance certainty to asset owners, investors and contractors by making retrofitting assets investable. It will facilitate external financing if required, and covers any lost energy revenue creation.

The product is targeted at real estate owners, social housing and the public sector, commercial and industrial real estate investors, and lenders.

Dual's environmental investment protection offering responds to rising awareness around the impact of environmental and biodiversity risks on real estate.

With reporting requirements becoming increasingly important to owners and investors, environmental factors are now seen as a significant threat to an asset’s liquidity, investability and value.

The cover is designed to protect property values against environmental and biodiversity risks in property transactions, financing and during M&A activity, to provide confidence to all stakeholders that their capital is not at risk if their assets’ environmental performance changes due to known or future contamination risks and future legislative changes.

It is focused on land and built assets where owners or investors are buying, selling, financing or developing.