How do I get wind power insurance?

Contact your nearest branch. Wind Power insurance cover for commercial operators of onshore wind power installations, both during construction and whilst operational.

Why do we need Reinsurance for offshore wind power?

From a (re)insurance perspective, increasing exposure to risk among stakeholders means coverage needs to grow in parallel with the offshore wind power industry, ultimately supporting its long-term expansion and viability, and impact on ESG advancement. What Are the Potential Risks and Challenges?

What are the risks and challenges in wind power development?

Alongside the industry’s growth, there are risks and challenges in the development and operation of wind power that range from financing obstacles to turbine location and extend to insurance coverage. As wind power continues to expand, building and maintaining offshore facilities takes on greater importance and complexity.

Will reinsurance provide capacity for wind farms?

In the longer term, we would expect the traditional reinsurance market to provide capacity for these wind farms. The biggest challenge remains to be addressing the potential for natural catastrophe. As the technology of turbines evolves, they are expected to be more resilient regarding wind exposure. However, this is largely untested.

Why do insurers need offshore wind insurance in Asia?

Given the broad challenges for offshore wind in Asia, there is a need and hence an opportunity for insurers to offer coverage in three main areas: Natural catastrophes: The region faces frequent and severe tsunamis and typhoons, a key risk leading to property damage and suspension of business operations.

Why do contractors need offshore wind insurance?

Technical challenges, adverse weather conditions as well as high investment and operating costs are unsettling both contractors and investors. Our solution: insurance for individual, project-related risks targeted at contractors (EPC/T&I), manufacturers and suppliers in the offshore wind industry.