What is the product?

GCube is a specialist provider of renewable energy insurance services, owned by Tokio Marine HCC. Our products range from renewable energy projects in wind, solar, wave, hydro and tidal around the globe and are unique in that they reflect the actual requirements of a renewable energy project, rather than taking a more traditional monoline approach to insurance. This provides piece of mind not only to renewable energy owners and developers but also to their lenders and investors, as they have certainty that the exposure for the entire lifecycle of the project is insured under a single policy. Risks such as marine cargo, erection all risks, operating all risks, mechanical and electrical breakdown, liability and all the ancillary financial lines cover is wrapped into a single policy, ensuring there are no gaps in cover. Importantly, knowing there is a single point of contact, claims are handled efficiently and seamlessly.

How does it support green outcomes?

GCube has 25+ years track record of supporting the renewable energy industry as it has evolved from traditional onshore wind, to offshore and solar. We arranged the insurance for the first offshore wind project in the UK and then supported the industry with projects in Europe and further afield. We have underwritten a number of first-in-market projects worldwide, from early near-shore and fixed-foundation developments, to the very first floating wind demonstrator sites off Japan.

How does it enable customers today?

As opportunities for solar power development open up worldwide, the Middle East and North Africa have become promising new markets for international investment. We have been first in country supporting these investments in specific solar projects which have not only helped commercial developers from a financial perspective, but also assisted local communities maintain a regular flow of electricity to essential services such as hospitals and schools.