What’s the news from Lime Underwriting? Busy as always, here are the details;
Renewable energy partnership with Lime Underwriting
Renewable energy is a rapidly growing sector and AXA Insurance UK – Commercial is keen to support initiatives that enable responsible use.
The insurer has announced a new delegated authority partnership with Lime Underwriting to provide innovative decommissioning bonds for the UK’s renewable energy sector.
With around 13,000 projects currently generating 45% of the country’s electricity, this partnership supports the projected growth of up to 10,000 new projects, helping site operators manage decommissioning funds and reduce cash flow pressures.
Lime’s unique decommissioning policy provides a reliable financial security solution, ensuring environmental liabilities are managed and land can be reused or restored.
“This collaboration further strengthens our commitment to support renewable energy initiatives and ESG objectives, building confidence among landowners and regulators,” said Sam Houlden, Head of Schemes Distribution for AXA UK Commercial.
Building on our foundations
AXA Insurance UK – Commercial has expanded its offering in the construction sector with a strengthened underwriting team and enhanced products covering projects and plant.
Four additional lead trading underwriters with a deep understanding of the construction sector have been added to the team to increase capacity and broaden expertise, enabling them to create bespoke solutions to meet customers’ needs.
A new construction project policy has been launched providing a flexible solution for individual construction projects of all sizes. The policy can be adapted for timber frame contracts and modern methods of construction, and all cases are manually underwritten.
One of the key features is additional cover for building back better following a claim, and the rating structure is flexible with high levels of capacity available.
In addition, owned and hired-in plant has been added to the contractors combined policy wording. This provides all-risks cover in respect of damage to own plant and equipment, hired-in plant, employees’ tools and temporary buildings.
Reinstatement cover is included for items of own plant less than two years old. There are also many additional extensions of cover available, including environmental protection and multiple lifts cove
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