Aviva is running a pilot to insure sustainable building materials such as engineered timber.
The hybrid buildings pilot will focus on materials that insurers usually shy away from owing to the perceived fire risk.
Adam Winslow, head of Aviva’s general insurance business in the UK and Ireland, said: “We are working on a test-and-learn basis with a handful of select developers and brokers, who understand and will invest in the long-term sustainability and resilience of a building and embrace the need for risk management in the design phase.”
Aviva has previously called for greater testing and knowledge of new building materials in homes and offices.
The insurance group, which stopped insuring fossil-fuel power generation projects four years ago, has been building up its renewable energy insurance book in areas such as onshore wind, solar and battery storage – aiming to be the number one insurer of renewable energy by 2027.
Last year, it started providing coverage to electric vehicle charging points. The FTSE 100 insurer has now begun insuring offshore wind projects and timber it reshapes its underwriting book to meet its climate ambitions.
