HSB Engineering Insurance Limited
HSB Engineering Insurance Limited, as a part of Munich Re, is a leading specialist provider of engineering, construction and renewable energy insurance. As a leading engineering insurer, HSB uses its knowledge and expertise to create value for clients through responsive insurance covers and by offering ways to help optimise equipment performance and mitigate risk. HSB recognises the importance of providing the right insurance to protect energy projects across Europe, using its technical expertise to design risk solutions that render tomorrow’s world insurable. HSB has 149 years of experience in underwriting engineering risks; risk information capture and loss control engineering have been an integral part of the company’s offering throughout that time. With regard to energy efficiency, HSB developed a patented asset performance model for energy efficiency projects in 2012, and a detailed data capture form specifically for energy efficiency projects in partnership with Clouds Environmental Consultants in 2013. The company launched its own Energy Efficiency Insurance policy in 2013 in the UK, as well as a data capture form in the Spanish Market in 2014.
In the context the SEAF project, HSB will take the lead on one work package (WP 3), whereby it will create a risk capture framework to enable SEA Contractors to present projects in a way that maximises the opportunity to obtain asset performance insurance and mitigate risk for potential investors. HSB will also develop a network of specialist insurance intermediaries and generate market compliant policies documentation in local languages to ensure SEA Contractors have access to local insurance solutions.
Paul Cullum, Product Development Manager, has over 25 years of experience in the engineering insurance market and holds a DipCII fom the chartered Insurance Institute. He has led HSB’s development of a number of market leading insurance solutions in areas as diverse as latent defects, renewables, energy efficiency and cyber and has presented on the topic of underwriting innovation for the CII.