Willis, has launched a carbon capture and storage insurance suite designed to support developers and operators across the CO2 capture, transportation, and storage value chain. It adapts upstream energy, marine, liability and environmental protections to the risks of CCS operations.

The solution is designed to provide coverage aligned with regulatory and carbon credit requirements, and is built to support operators, investors and emitters across each stage of a project lifecycle. The service offering includes front-end engineering design phase risk engineering support, knowledge sharing, contractual risk allocation advice, lender and regulatory support, and tailored insurance solutions.

Willis says coverage includes protection for physical assets and revenues such as property damage, business interruption, and value chain downtime, and certainty of risk transfer for complex CCS exposures, covering first of a kind technologies.

It also features comprehensive liability protection, addressing third party claims, plume migration, terminal operations, and off spec CO2 risks.

Marie Reiter, head of global broking strategy, natural resources at Willis, said: “We are delighted to announce the launch of our CCS solution, designed to support the next phase of carbon capture and storage deployment. Carbon capture and storage projects face first of a kind risks, complex contractual structures, and rapidly evolving regulatory requirements. Effective risk management is critical to building bankability and long term resilience.”

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