Products and Services
Renewable Energy
Insuring Renewable Energy is a major opportunity for RSA, allowing us to work with manufacturers and energy providers to improve energy security and reduce impacts on climate change.
We created our Global Renewable Energy business in 2007 - the first general insurer to launch such a business - building on the strong position in wind generation we built up over 30 years in Denmark. We have created Centres of Excellence supporting 20 renewable energy teams around the world. These centres provide underwriting, claims and risk management support, based in London (bioenergy & solar), Toronto (small hydro) and Copenhagen (wind).
Premiums in this business grew by 50% in 2008, including significant growth from a small base in Italy, France and Spain. Our small hydro business grew by more than 70%. Significant developments during the year included:
- RSA China launched its Wind Power insurance proposition, Clear Sky Solutions™ and developed relationships with leading manufactures including Suzlon and Vestas, as well as key power providers and specialist intermediaries and insurers;
- RSA Chile won “Proyecto Totoral”, insuring the construction of a US$127 million wind farm north of Santiago. The project consists of 23 2MW wind turbine generators and is only the second wind farm in Chile;
- Winning new business with Indian Energy Ltd, an ambitious, UK-based wind farm developer constructing new projects in India.
In 2008, we also launched bioenergy products, in Scandinavia, Canada, the UK and Italy. Our business covers the three main technologies: biomass (plant material and animal waste); biogas and biofuel (plant materials converted to fuels such as bio-diesel and ethanol).
Environmental clean-up
We have developed new products, launched at the beginning of 2009, to meet customers’ needs for protection against sudden and accidental environmental damage at sites protected under European Union or local conservation laws.
The EU Environmental Liability Directive seeks to protect special sites, known as Natura 2000 sites, from environmental damage. Operating on the “polluter pays” principle, it makes operators financially liable for damage to habitats and species, land and water resources.
RSA’s new products, launched initially in Denmark and Sweden, provide cover for cleaning up damage, restoring ecosystems to their condition before the pollution incident. They go beyond traditional ‘cleanup’ policies, extending to the management of the restoration projects. We have linked up with environmental professionals who will assist our claims teams to develop remediation plans. This means that we can take expert advice and manage incidents quickly and effectively.
These products cover sudden incidents (rather than gradual pollution) and our risk is covered by a dedicated reinsurance programme ensuring that we are not exposed to any unknown long-term environmental risks.
“New legislation implemented in 2008 affects many of our commercial customers. You cannot construct or sell a building without an energy performance certificate.
We developed a new proposition to address the issue, which included working with a range of stakeholders including local government. We created a campaign, “Less CO2, more IQ” to highlight the legislation. The proposition can help to drive down costs and environmental impact.
Our goal was to raise awareness within our broker community and with the end customers. The campaign and proposition were so successful that we received an innovation of the year award from Insurance Times.
We have been busy helping customers with over 2,000 buildings to understand energy efficiency and comply with the legislation. Naturally, climate change is a concern for our team and we are looking at new ways to help customers with the carbon management legislation being implemented in the UK.”
Alex Matthias
Energy Management Leader, UK
Energy management for buildings
Our Risk Solutions business in the UK has developed a range of services to help clients improve energy efficiency and comply with new regulations for building certification. They can help clients significantly reduce energy consumption, costs and carbon dioxide emissions.
The new service is a response to the Energy Performance of Buildings Directive, which requires all building owners to provide an Energy Performance Certificate to prospective buyers or tenants. We provide certification, energy and air conditioning audits and expert advice on energy efficiency improvements, carbon management and sustainability in buildings.
For more information see:
www.rsabroker.com/energy
Green Wheels
MORE TH>N, our UK consumer business, has launched Green Wheels, a new type of car insurance that helps people reduce their fuel consumption by providing information about their driving style, comparing it with other drivers.
The insurance includes free installation of a telematics box in the car which monitors driving behaviour, using global satellite positioning (GPS). It provides reports including information about the rate of acceleration and braking, the number of short car journeys and how long the car is left idling. Driving more efficiently reduces CO2emissions as well as saving money in reduced fuel consumption and tyre wear.
For more information see:
www.morethan.com/Pages/Products/Car/GreenWheels_Home.aspx
Working with the National Trust “The National Trust, Europe’s largest Conservation organisation, was founded in 1895 to promote and preserve historical buildings. RSA has teamed up with the National Trust to offer the Affinity line of home and auto insurance.
One of the key benefits is that a donation will be made to the National Trust with every policy sold.
The products and the communications around them have been heavily influenced by our understanding of green behaviour. Working with the National Trust is an ideal opportunity to link up with an organisation with several shared environmental principles”
Shahin Amir-Ebrahimi
Affinity Marketing Development Manager, UK
"The National Trust Insurance range is provided and underwritten by RSA, with National Trust providing access promoting the products through their membership communications. As a marketing consultant, I help develop and agree the Marketing Plans and work with creative agencies to implement marketing campaigns, from Direct Mail to customer magazine advertising and online web banners. I also work with National Trust to identify new sales opportunities.
Both RSA and National Trust are members of the We're in this Together programme, launched in April 2007, to promote practical environmental solutions to consumers. For example, the Home Insurance product includes cover for solar panels and members who are already environmentally conscious and drive cars with a CO2 rating lower than 120g/km receive a 10% discount on their motor insurance policy.”
Nancy Welch
Affinity Marketing Consultant, UK