DUAL’s Climate Risk & Resilience team has launched two insurance products aimed at supporting real estate owners and investors in navigating environmental risks and securing financing during the shift toward a low-carbon economy.
The first product, DUAL Energy Efficiency Retrofit (EER) insurance, is intended to support the retrofitting of buildings by providing assurance around energy performance. It is structured to offer certainty in three main areas: energy reduction outcomes, ongoing asset performance, and potential energy revenue losses. The product targets a wide range of stakeholders including public sector housing bodies, commercial and industrial investors, and lenders.
The second offering, DUAL Environmental Investment Protection (EIP) insurance, addresses the increasing exposure of real estate assets to environmental and biodiversity-related risks. With rising reporting obligations and scrutiny from investors, such risks are becoming more closely linked to an asset’s value and marketability.
DUAL EIP is designed to protect property value during transactions, development, financing, and M&A activity, providing coverage for losses linked to existing or emerging environmental risks and regulatory changes.
The introduction of the new products reflects the growing influence of sustainability and regulatory compliance on asset valuation in the property sector. As decarbonisation efforts continue, insurance is being positioned as a mechanism to provide certainty and financial security throughout the building life cycle.
According to Simon McGinn (pictured above), CEO of DUAL UK, recent climate events have underscored the importance of insurance in resilience-building.
“The development of two new products under the DUAL umbrella is a fantastic example of how MGAs can provide insurance for emerging and niche risks,” McGinn said. “Our highly experienced underwriters are acutely attuned to the needs of the market, and I am excited to see DUAL pushing boundaries in our range of products and building out our portfolio even further.”
DUAL UK‘s Climate Risk & Resilience underwriting team, launched in March 2025, is part of the company’s broader strategy to develop insurance products that facilitate the transition to a net-zero economy.
The team is led by Rob Best, who has four decades of experience in the London insurance market, having held positions at JLT, Gallagher, and Willis. He is supported by David Sparrow, former CEO of Built Asset Consultancy EC Harris and a member of the Global Management Committee of Environmental Consultancy Arcadis.
In the broader context, the UK insurance industry has been experiencing increasing claims due to climate-related events. In 2024, insurers paid out a record £585 million for weather-related damages to homes and possessions, surpassing the previous record set in 2022. This increase is attributed to a series of 12 named storms during the 2023-24 season, the highest number since 2015-16.
What are your thoughts on this story? Please feel free to share your comments below.
