Energy And Power Insurance Market Trends And Analysis By Application, Vertical, Region, And Segment Forecast To 2029

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What Is The Estimated Industry Size Of Energy And Power Insurance Market?
Over the past few years, the energy and power insurance market has witnessed robust growth. The market, projected to rise from $7.29 billion in 2024 to $7.82 billion in 2025, anticipates a compound annual growth rate (CAGR) of 7.2%. The upsurge in the historic period can be credited to the escalating demand for insurance coverage for traditional power plants, increased investments in fossil fuel infrastructure, growing regulatory norms in the energy sector, expansion of insurance against natural disaster risks, and the rise in financing for energy projects.

The market for energy and power insurance is predicted to experience robust growth in the future, with its market size forecasted to reach $10.20 billion in 2029 at a CAGR of 6.9%. The growth is anticipated to be driven by factors such as the increased adoption of renewable energy insurance solutions, heightened cybersecurity risks to energy infrastructure, increased government support for clean energy initiatives, the broadening of insurance for smart grid technologies, and a surge in insurance demand for electric vehicle infrastructure. Key trends to watch during the prediction period are advancements in risk modeling technology, progress in digital claims processing, an upswing in research and development investments, parametric insurance product innovations, and blockchain advancements for improved policy management and transparency.

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What Are The Major Factors Driving The Energy And Power Insurance Global Market Growth?
The upsurge in the need for renewable energy is predicted to boost the expansion of the energy and power insurance market in the future. Renewable energy is the energy obtained from naturally renewable sources such as sun, wind, water, and geothermal heat. The burgeoning demand for renewable energy originates mainly from the move to lessen greenhouse gas emissions, with nations and corporations opting for cleaner energy alternatives to achieve climate goals, enhance air cleanliness, and shift away from fossil fuels. Increasing preference for renewable energy fuels the need for energy and power insurance by escalating investments in renewable ventures, these require in-depth coverage to handle construction risks, operational hazards, equipment breakdowns, and prospective financial losses linked with large-scale solar, wind, and hydropower installations. For example, as per the Eurostat, a government agency based in Luxembourg, in 2023, renewable energy accounted for 24.5% of the total energy consumption in the EU, a rise from 23.0% in 2022. Hence, the escalating demand for renewable energy is fuelling the expansion of the energy and power insurance market.

Who Are The Leading Companies In The Energy And Power Insurance Market?
Major players in the Energy And Power Insurance Global Market Report 2025 include:

• Berkshire Hathaway Specialty Insurance Company
• Allianz SE
• Munich Reinsurance Company
• Liberty Mutual Insurance Company
• Tokio Marine Holdings Inc.
• Swiss Reinsurance Company Ltd.
• Zurich Insurance Group Ltd.
• Sompo Holdings Inc.
• Marsh & McLennan Companies Inc.
• Everest Reinsurance Company

What Are The Key Trends Shaping The Energy And Power Insurance Industry?
Major corporations engaged in the energy and power insurance sector are shifting their focus towards creating unique solutions including insurance for renewable energy initiatives. These types of insurance, which cover stages from development to operation for resources like wind, solar, and hydro power plants, play a significant role in minimizing potential losses due to damages, delays, or operational glitches and assist in securing financing for the projects. As an example, Zurich Insurance Group AG, a multinational insurance company based in Switzerland, partnered up with Aon Plc, a UK-based professional services company, in July 2024 to introduce a comprehensive insurance service for clean hydrogen ventures. This facility, covering construction, operational, business interruption, and carbon capture risks, is built to provide insurance for the entire life cycle of a project. It is particularly aimed at addressing the intricate risks associated with hydrogen production, infrastructure, transmission, and carbon capture, utilization, and storage (CCUS) technologies, with an objective to aid project developers and investors in reducing risks, acquiring sufficient insurance coverage, and drawing large-scale investment for clean hydrogen projects.

What Are The Primary Segments Covered In The Global Energy And Power Insurance Market Report?
The energy and power insurance market covered in this report is segmented

1) By Insurance Product Type: Property Insurance, Liability Insurance, Business Interruption Insurance, Environmental Liability Insurance
2) By Type Of Energy Source: Renewable Energy, Non-Renewable Energy, Fossil Fuels, Nuclear Energy
3) By Coverage Period: Short-Term Policies, Long-Term Policies, Event-Specific Insurance
4) By Application: Oil And Gas, Renewable Energy, Power Generation, Other Applications
5) By End-User: Commercial, Industrial, Other End-Users

Subsegments:
1) By Property Insurance: Fire Insurance, Flood Insurance, Theft Insurance, Equipment Insurance, Natural Disaster Insurance
2) By Liability Insurance: Public Liability Insurance, Product Liability Insurance, Employer Liability Insurance, Contractual Liability Insurance, Professional Liability Insurance
3) By Business Interruption Insurance: Contingent Business Interruption Insurance, Non Contingent Business Interruption Insurance, Extended Period Of Indemnity Insurance, Ingress Egress Insurance
4) By Environmental Liability Insurance: Pollution Liability Insurance, Waste Management Liability Insurance, Site Remediation Liability Insurance, Environmental Impairment Liability Insurance

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Which Region Is Forecasted To Grow The Fastest In The Energy And Power Insurance Industry?
In the 2025 Energy And Power Insurance Global Market Report, North America emerged as the leading region in the prior year. Anticipations for the highest growth rate are associated with the Asia-Pacific area in the projected period. The report includes the following regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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