Corporate / CSR

May 21, 2014


Japanese Insurance Companies Launch Fire Insurance for Wind-Power Generation Operators

Keywords: Corporate Eco-business / Social Venture Non-manufacturing industry Renewable Energy 

Photo: Mt. Taikoyama wind power station
Image by Hajime NAKANO Some Rights Reserved.

Nipponkoa Insurance Co. and Sompo Japan Insurance Inc. launched fire insurance for wind-power generation business operators on February 1, 2014. It includes a newly developed optional insurance policy that covers the cost of investigating the causes of trouble and breakdowns , and inspection for the prevention of similar incidents.

Since Japan's national introduction of the renewable energy feed-in-tariff (FIT) scheme in July 2012, renewable energy use for power generation has been growing significantly. However, as more than 90 percent of power-generating facilities certified by the Japanese government have been for solar power generation so far, it is important to foster more balance in sources of renewable energy.

Losses from trouble and breakdowns of wind power equipment can be expensive, and problems tend to recur. The companies hope to support more stable management of the wind power industry by providing insurance and risk management services.


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