A study on the Potential Demand and Supply of Insurance between Energy Service Company (ESCO) and Insurance Company

• Main Authors: LIN,SHENG-CHIEH, 林聖傑
• Other Authors: FAN,CHIANG-KU
• Format: Others
• Language: zh-TW
• Published: 2016
• Online Access: http://ndltd.ncl.edu.tw/handle/91031995733363966299

碩士 === 實踐大學 === 財務金融學系碩士班 === 104 === Although Energy Service Company (ESCO) has been developed several decades, in considering of its nature of cross-industry integration, it still face many obstacles such as financing, insurance, measurement and verification, risk guarantee. According to literatures, Energy Efficiency Insurance (hereinafter called EEI) is one of the key insurance products applied to ESCO sector. There is no similar EEI product in Taiwan insurance market in present. ESCO projects are heavily relied on non-life insurance insurer to provide related coverage during its lifecycle. However, Insurers in Taiwan are not familiar with the operation of ESCO, let alone tell the underwriting experiences to the coverage related to ESCO in the past. However, local insurers in Taiwan should have the capability to provide products (except EEI coverage) to those operators of ESCO. The purposes of this study are to identify the exposures of ESCO and review the potential related insurance products applied to ESCO from Demand and Supply side. This thesis is also making a preliminary research to underwriting factors under EEI for local Non-Life insurer reference. In this study, reviewing literatures and in-depth interviews (to those insurance experts and senior ESCO operators) are employed to identify the risk of ESCO and to find the insurance potential from the side of demand and supply. According to our research, we find the risks of ESCO sector faced are quite completed. However, we also find many risks could be transferred by insurance as insurers have willingness to provide those coverages. As to EEI coverage, there is lacking of related database that can applied for underwriting purpose due to highly requested of underwriting skill. This research also finds some additional underwriting factors during our interview with the experts. However, many insurers are not familiar with EEI coverage and could only identify two common underwriting factors i.e. Project Item and Limit of Liability. For the other underwriting factors, it seems that insurers have different comment due to their self-consciousness.