Agency Specialty Product Network (ASPN) and Strategic London Service Provider COSAIN have unveiled (26th September) a new renewable energy insurance facility that covers renewable energy sources such as ethanol, methanol, biodiesel products and other areas of alternative energy development.

The new energy facility will, says the company, provide insurance coverage from the construction phase through the first year of operation, with the option of covering operational exposures after the initial period. Property coverages include marine cargo physical damage, builders' risk, delays in start-up and business interruption. In addition, COSAIN has facilities in a variety of markets that can offer commercial general liability and broad form excess general liability.

"Renewable energy development is going to be one of the fastest growing business segments in the world," said COSAIN partner Stuart Bryant. "This unique facility will provide insurance coverage that meets the needs of those in this new, unique business."

Patrick Rastiello, president of ASPN, said, "ASPN is thrilled to have been an essential part of designing and building this new alternative energy facility because it not only will provide a solution to a growing market need, but it will also shape the future of the insurance industry. At ASPN, we are sensitive to the issues surrounding alternative energy development. In our own way, we see this facility as a way to help protect and preserve the environment for future generations. This facility is only one example of the many areas where ASPN and the provider companies within our network work closely to develop and bring quality insurance products and services to independent agents and brokers, and ultimately, to their clients."

COSAIN, meaning "to protect" in Gaelic, was formed in 2006 and serves as ASPN's Strategic London Service Provider allowing ASPN agents, brokers and MGAs (managing general agents) access to the London, European and Bermuda markets for difficult-to-place risks. In addition to significant expertise in energy, COSAIN offers expertise in healthcare, property, professional liability and mining.