A focus on Renewable Energy
Q&A with Rhys Newland
A focus on Renewable Energy
Q&A with Rhys Newland
We caught up with Miller's new Head of Renewable Energy & Environmental Technology to find out more about the team and understand how they can help our North American clients.
Can you tell us a bit of background about yourself?
I originally worked as an environmental consultant for six years; I then joined WTW where I gained 23 years’ insurance experience. I left my previous role as Head of the Infrastructure Practice, which included environmental infrastructure and renewable energy.
What attracted you to join Miller?
Miller is ideally placed to deliver a complete package of services to clients internationally.
In particular, Miller has a role in the energy transition to a more sustainable future by assisting existing and new clients in the adoption of renewable energy and environmental technology. The global reach of Miller through its network of partners, premium volumes placed into the global insurance market, the strength of Miller Energy and Marine divisions and Miller’s independent status make Miller ideally placed to service clients in this sector.
What are your main areas of expertise?
Renewable energy, environmental infrastructure and project financed projects.
What are the main aims of the renewable energy team and why is it so important?
The team has a key role in assisting client’s transition from a carbon intensive energy and business environment, to a low carbon business environment, to address both climate change and the impacts of climate change. The aim of the team is to be the best team in the London market at understanding complex technologies and complex projects, to be able to assist clients to engage with insurers to transfer their risks and enable projects to proceed.
What benefits can the renewables team offer to clients?
Similar to the general Miller proposition we have:
- An exceptional team approach with 100% focus on customers
- Completely flexible service model adapted to your needs
- Truly independent allowing us to take a long term view of business.
Specifically on renewable energy we:
- Understand complex technologies and risks and complex project delivery structures
- Understand the contractual risk allocation framework between project parties
- Understand insurers risk information and risk management requirements to be able to advise clients and partners of design and implementation risk mitigation, and presenting the right risk details, in the right format to the insurance market.
How can the renewables team help our North American clients specifically?
We can advise our intermediary partners on the risks presented by different technologies to their client base and the global insurance market requirements for risk management standards and how best to seek risk mitigation. We can then use our knowledge to present the risks to the global market in a favourable light, and leverage our position in the global insurance market to get difficult technologies, projects and risks the best cover for the best price and terms. We can also provide retail services and advice where North American clients are active in global territories. Additionally, we have scope to introduce global clients into North America where they become active in the territory.
Where do you see the renewable energy team in five years?
Investment in traditional energy and power will decline over time and investment in renewable energy technologies and the supporting technologies, (including energy storage, batteries, hydrogen as a fuel, carbon capture etc.) will increase significantly in the next five years. The renewable energy team will be at the forefront of this transition and provide valuable knowledge and services to our clients and partners to guide them through the risks, risk allocation and risk transfer and the pitfalls presented by new technologies and projects.