Shepherd enters renewable energy market

Construction insurance startup Shepherd is entering a new vertical with a primary and excess casualty offering for the renewable energy & power market.

Founded in 2021, the MGU raised ~$20 million and has issued over 1.5k policies.

Shepherd will initially focus on commercial solar, onshore wind, battery energy storage systems, microgrids, fuel cells, hydroelectricity, and select power generation and supporting infrastructure.

The new vertical is led by Alex Casella, who previously served as an energy underwriter at Chubb.