Zurich Insurance Group and Aon PLC on Monday launched a facility providing global coverage for blue and green hydrogen projects with capital expenditures up to $250 million.
The facility provides multi-line coverage, led by Zurich, through a single integrated policy, including construction, delay in start-up, operational cover, business interruption, marine cargo limits and third-party liability.
It also provides coverage for carbon capture, utilization and storage technologies.
Blue hydrogen, derived from natural gas, uses carbon capture technologies to reduce its carbon intensity, while green hydrogen is produced by splitting water into hydrogen and oxygen via electrolysis powered by renewable energy.
