New York State officials announced the launch of a $6.5 million initiative to encourage sustainable technology and decrease carbon dioxide emissions through the creation of new policy and product for insurance. This Insurance Innovation for Climate-Technology Solutions program, which is led by Governor. Kathy Hochul’s office to offer grants to manage risk and expansion of the insurance market for companies that are transitioning to green products.
Gov. Hochul stressed the importance of removing obstacles to the use of green technologies to meet New York’s ambitious goals for climate change. The program was designed to protect and provide security for consumers as well as companies, and create a climate of innovation in the state.
Together in collaboration with New York State Energy Research and Development Authority (NYSERDA) This initiative will award grants to researchers and developers of new insurance products. This initiative aims to increase accessibility to information and improve the insurance coverage available to climate tech both consumers and businesses.
NYSERDA President and CEO Doreen Harris expressed their enthusiasm for the collaboration with InnSure and InnSure, which will provide the data and research needed to stimulate new investments and help create more products used in everyday life for New Yorkers. Harris stressed the state’s dedication to fostering a strong innovation ecosystem that is equipped with the appropriate tools to assist companies in reducing the risks that come with adopting innovative technologies.
