DUAL’s Climate Risk & Resilience team has introduced two innovative insurance products designed to support real estate owners and investors in navigating the challenges of environmental risks and securing financing during the transition to a low-carbon economy. The first product, DUAL Energy Efficiency Retrofit (EER) insurance, aims to facilitate building retrofitting by providing assurance around energy performance. This insurance offers certainty in three key areas: energy reduction outcomes, ongoing asset performance, and potential energy revenue losses. It targets a broad range of stakeholders, including public sector housing bodies, commercial and industrial investors, and lenders.
The second product, DUAL Environmental Investment Protection (EIP) insurance, addresses the growing exposure of real estate assets to environmental and biodiversity-related risks. As reporting obligations increase and investor scrutiny intensifies, such risks are becoming more closely tied 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.
Decarbonisation Efforts in the UK
The launch of these new products reflects the growing influence of sustainability and regulatory compliance on asset valuation in the property sector. As decarbonisation efforts continue to gain momentum, insurance is being positioned as a critical mechanism to provide certainty and financial security throughout the building life cycle.
According to Simon McGinn, 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 brings 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.
UK Insurance Industry Context
The UK insurance industry has been experiencing a surge in 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.
