International Organization for Standardization has announced new general liability classifications for alternative energy sources and nanotechnology.“In response to the growing demand for alternative energy, ISO introduced classifications for risks in three main areas: biofuels, solar energy, and wind energy. The new classifications will allow for future evaluation of the loss experience of those emerging markets,” said Beth Fitzgerald, vice president of commercial lines and modeling at ISO.
The new classifications will be implemented in almost all jurisdictions beginning September 1, 2011.