La Mútua de los Ingenieros, through Serpreco, its insurance brokerage, has launched the first insurance guaranteeing the expected savings from an energy efficiency project during the five years following its realization. The insurance is aimed at relevant actions, which require an investment of more than 75,000 euros, and benefits energy service companies, municipalities, industries, neighboring communities …
“There are many professional liability policies, but do not cover business expectations for the savings committed to energy efficiency actions , ” he told elEconomista Andreu Mingote, technical director of Serpreco, explaining the new product.
The initiative comes at a good time, since the Government is starting to apply the Energy and Climate Plan by 2030, (PNIEC), which includes some 83,000 million in energy efficiency measures, including 30,000 million in public funds.
The PNIEC also includes the new Strategy for the Rehabilitation of Buildings , linked to an investment of almost 30,000 million, between those of the residential sector and those of the tertiary sector. For industrial processes, it foresees almost 7,400 million, of which about 1,700 million would be public.
La Mútua insurance is not aimed at individuals, but at companies, especially energy services companies (the so-called Ese) and industries, but it also fits with public entities or neighboring communities that undertake projects of a certain substance, starting from 75,000 euros, and ideally around 500,000 euros.
The amount of the policy depends on several factors and can vary greatly depending on the amount of the investment, the value of the annual energy savings, the amortization period of the project … Obviously, it requires a detailed analysis in each case.
Savings and damages
Efficiency insurance covers the difference between expected savings and real savings over a period of five years, in the event that there are deviations that do not respond to the misuse of the facilities, as well as the entire risk of material damage suffered. equipment for unforeseen causes, and lost profits and expenses caused by an insured contingency.
“Insurance is primarily intended for ESEs; we are a non-profit entity – we are on the second floor of the College of Engineers of Catalonia – and we wanted to provide a solution to our group, to an entire engineering sector that works in energy efficiency and that he was demanding a solution for the savings committed to his projects, because until now they had to respond with their assets or that of their companies if things did not go as expected, “says Mingote.
Andreu Mingote: “Insurance is in the interest of energy service companies, a community of neighbors who want to rehabilitate the building and cover their neighbors, or a City Council that intends to change all the lighting in the town and undertake the work directly”
However, the casuistry is very broad: “we are seeing that it is also in the interest of a community of neighbors who wants to rehabilitate the building and cover their neighbors, or a City Council that intends to change all the lighting in the town and undertake the work directly “adds Mingote.
Failed experience in 2012
Mingote comments that towards 2012 another company offered another similar insurance “but I believe that none were sold, because the situation was different and the regulations were not appropriate.”
Now his expectations are good: “We believe that it is the ideal moment and that we are going to have a lot of demand; we think that engineering, energy services and technology companies are going to be key when it comes to raising the country again.”