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Paratus has been granted regulatory approval by the Guernsey Financial Services Authority to provide insurance cover to the renewable power industry.
As they’ve been granted regulatory approval by the GFSC to provide insurance cover to the renewable power industry, it means Paratus will write the world’s first policy for renewable power price protection.
The company says the license approval will increase its offering beyond its current fields of aviation, maritime, and freight, to renewable power including wind, solar, biofuels, and hydrogen.
Gus Majed, Group CEO and Founder, Paratus, commented: “The renewable power licence is central to our future growth. We are writing the world’s first policy for renewable power price protection and our product will have a transformative impact on the renewable energy industry.
“This is a crucial step forward for the business and for the industry, as our world first renewable power price insurance policy will accelerate the transition to renewable energy sources and sustainable fuels.”
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