DUAL’s climate risk and resilience team has launched two new products aimed at providing insurance to help owners and investors protect the value of their assets and unlock finance during the transition to a sustainable economy.

DUAL Energy Efficiency Retrofit insurance is intended to help provide energy performance certainty to asset owners, investors and contractors, undertaking the retrofitting of buildings. It is designed to make retrofitting assets investable and facilitate external financing if required.

The product covers the three key areas of certainty of energy reduction, asset performance, plus any lost energy revenue creation. The product is targeted at all real estate owners including social housing and public sector, commercial and industrial real estate investors, and lenders.

The real estate industry’s transition to net zero is accelerating, increasingly reflected in asset pricing. Howden MGA DUAL says that insurance has an important role to play in both unlocking investment and protecting asset values through many stages of a building’s life cycle.

The second product responds to the rise in awareness around the impact that environmental and biodiversity risks have on real estate. DUAL Environmental Investment Protection insurance is designed to protect property values against environmental and biodiversity risks in property transactions, financing and during M&A activity.

DUAL EIP is focused on land and built assets where owners or investors are buying or selling, financing and/ or developing. The product is designed to provide confidence to all stakeholders that their capital is not at risk if their assets’ environmental performance changes due to known, or future contamination risks and future legislation changes.

Simon McGinn, CEO, DUAL UK, said: “Climate events continue to focus minds on the role insurance can play in building resilience. The development of two new products under the DUAL umbrella is a fantastic example of how MGAs can provide insurance for emerging and niche risks. Our highly experienced underwriters are acutely attuned to the needs of the market, and I am excited to see DUAL pushing boundaries in our range of products and building out our portfolio even further.”

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