The Hartford Financial Services Group today announced efforts to step up its insurance coverage of the alternative energy sector, with the goal of protecting investors future bets on the growing industry.
The Hartford-based property and casualty and life insurer said it has formed a renewable energy unit that will provide specialized underwriting and a full suite of property and casualty insurance products and services for makers, builders and operators of renewable energy.
 “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,” said Juan Andrade, president of The Hartford’s Commercial Markets.
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 is also collaborating with the California Clean Energy Fund 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.
The Hartford has been insuring renewable energy risks for more than 20 years.
