Global Hydrogen Practice Leader
The benefits of clean hydrogen as a storable, and transportable energy source in an increasingly electrified world are widely recognized. As the race to decarbonize dramatically accelerates, governments and hard-to-abate industries are increasingly investing in clean hydrogen production and carbon capture and storage facilities.
Worldwide investment in hydrogen production facilities has surged in recent years and is estimated to exceed US$150 billion by 2025, which will aid energy transition.
Our global teams working across the energy and power, construction, credit, and cargo industries provide expert engineering analysis, tailored risk management and insurance advice, and global placement services covering the full value chain of hydrogen investments.
Marsh is the first and only broker to offer a unique insurance facility that provides 100% of the core insurance needed for the construction and operational phases of a hydrogen project. We give you access to global insurance markets, bespoke policy wording, and risk allocation strategies to suit all project partners and stakeholders. We help you protect your own project investments and build towards success.
Contact us to discuss effective risk management solutions for your project.
Clean hydrogen is produced using power from renewable energy sources such as wind or solar (referred to as ‘green hydrogen’), or from reduced carbon sources such as gas (referred to as ‘blue hydrogen’).
Hydrogen production is not a new science, so the risks are well known to insurance markets. The difference now is the rapid scale-up of hydrogen projects to meet energy transition demands. As projects increase in size and number, the primary risks relate to electrolyzer technology used for hydrogen production, and in how hydrogen is transported or stored. The anticipated demand for clean hydrogen may see investors face supply chain issues, technology shortages, or lack of experienced construction contractors. All of these factors may lead to delays in start-up.
Marsh Specialty provides risk management advice and solutions for all types and sizes of hydrogen projects. We use a structured risk framework to manage your project through its critical path. Our approach includes:
Hydrogen projects can involve complex ownership and contractual arrangements that require comprehensive risk management solutions to protect the interests of all project stakeholders. During construction and operation, the core suite of required insurance may include property damage risks, marine cargo, business interruption, general third party liability, and contingent delay-in-start up insurance.
In addition to our standard services, Marsh Specialty is the only broker to offer a unique insurance facility, backed by a panel of top rated global insurers, providing pre-agreed coverage, uniform terms, and risk engineering services. The facility secures 100% insurance capacity for construction and operational risks up to US$300 million, and is available for any hydrogen project, anywhere in the world.
Global Hydrogen Practice Leader
Global Hydrogen Risk Engineering Leader
While renewable energy sources continue to propel environmental sustainability efforts, the risk landscape for providers has become increasingly complex. Our risk and insurance advice can help you manage volatility and achieve operational and financial success in the renewable energy industry.