Shepherd Binds $10M Excess for Top Broker's Premier Power Account

The Client and the Project

The insured is one of the largest power developers and operators in North America, with an operational capacity of over 25,000 MW across a diversified portfolio of renewable assets including solar and battery storage alongside conventional natural gas generation, plus an in-house operations and maintenance arm that also serves third-party clients. With the developer’s geographic diversity, safety controls, and loss history, this is just the kind of premier RE&P risk Shepherd entered the vertical to underwrite. 

How the Broker Brought It Together

The submission came following disruption in the incumbent excess market, from a broker whose energy and power team had placed with Shepherd before and connected the underwriting team to a wider network of opportunities in the space. The broker had already experienced Shepherd’s speed and flexibility and knew we were the market to bring this to given the need for a quick placement given the circumstances.

What Shepherd Did on This Placement

Shepherd wrote the $10M excess of $60M layer over strong underlying terms. The team got comfortable with the layer because of the portfolio's geographic diversity, the safety controls at its higher-hazard sites, including staff physically on-site 24 hours at wildfire-exposed locations, a large but well-managed vehicle fleet, and a strong claims history. Shepherd turned around the underwriting quickly enough to help the broker meet a tight timeline and secure the coverage solution the client needed. 

The Outcome

The signature speed and service Shepherd is known for solved a time-sensitive broker and client need, earning Shepherd a position on one of its broker partner's most important accounts in the power space with room to grow into a larger share of the tower as the relationship and the portfolio both develop.