Renewable Energy & Environmental Technology
Q&A with Rhys Newland
We caught up with Miller's new Head of Renewable Energy & Environmental Technology (REET) to find out more about the team and understand how they can help our European clients.
Tell us a little about your background.
So I originally worked as an environmental consultant for six years before joining the world of insurance 23 years ago. I joined Miller from Willis Towers Watson, where I headed up their infrastructure practice, which included environmental technology, infrastructure and renewable energy. I have a degree in Environmental Science and am also a Chartered Environmentalist.
What attracted you to Miller?
Miller is ideally placed to deliver a complete package of services to clients internationally, as well as helping both existing and new clients with the adoption of renewable energy and environmental technology as part of the energy sector’s transition to a more sustainable future. Miller’s position as a London wholesale broker and consistent commitment to helping local partners find the best solutions for their clients, alongside the existing strength of our Energy and Marine divisions, enables us to deliver the kind of service that makes a real difference.
What are your main areas of expertise?
Renewable energy, environmental technology and project financed projects.
Tell us about Miller’s new Renewable Energy & Environmental Technology (REET) team.
Miller already has good existing knowledge and skills in renewable energy and environmental technology projects. By building a new dedicated team to this growing sector, with the risk and market expertise that complements what we already have, we can ensure that the risks associated with the emerging renewable energy and environmental technology sector are understood, managed by clients and communicated to insurers.
How does the REET team support clients transitioning to more sustainable practices?
One of our key roles is assisting clients’ transition from an intensive to a low carbon business environment, to address the impacts of climate change and prevent further damage. We aim to be the best team in the London market at understanding complex technologies and projects, and assist clients to engage with insurers to transfer their risks and enable projects to proceed.
How can the REET team help European intermediaries and their insureds specifically?
We can advise our intermediary partners on the risks presented by different technologies to their client base, as well as 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 to get difficult technologies, projects and risks the best cover for the best price and terms.
Where it adds value to our partner’s proposition, we can also provide retail services and advice for European clients active in other territories. We can also introduce international clients to our European partners where they become active in a particular territory (we see benefit both to us and a client in having a local partner).
Where do you see the REET team in five years?
Investment in traditional energy and power will decline over time and investment in renewable energy, and the supporting technologies (such as energy storage, batteries, hydrogen as a fuel, carbon capture, etc.) will increase significantly in the next five years. The REET 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.
