RENEWABLE ENERGY INSURANCE
Why do you need a specialist broker?
The unique complexities and challenges of the renewable energy industry means it can be difficult to find insurers to provide the right level of cover required to protect your business.
We provide expertise and advice across all sectors of the industry, each one has a large variety of environmental, contractual, supply chain, delivery, construction and operational risks.
- Owner controlled insurance programmes
An OCIP is not a policy, but a collection of different types of insurance, where each programme is designed for your renewable energy project.
- Specialist and exclusive policies
We have access to a range of specialist and exclusive insurance policies designed specifically for the renewable energy industry.
- Handling claims
Our renewable energy specialists intimately understand the industry and support our clients through the claims process, as well as providing guidance should an incident lead to an HSE and/or EA investigation.
How we can help
We are committed to developing relevant insurance propositions that support this ever-changing industry, offering valuable additional services that provide real benefits to our clients. Our insurance solutions often involve a detailed assessment of your insurance risks, establishing cover requirements to meet your precise needs.
Contact your nearest Renewables expert
Need advice? Our advisers can help. Let us know where you are and find your nearest expert.
Benefits of an owner controlled insurance programmes (OCIP)
The benefit of an OCIP is primarily the level of control it gives the policy holder most importantly in terms of claims management and excess levels. It can also reduce your premiums. Policies that can form an OCIP include:
- erection all risks cover
- delay in start-up cover
- marine and cargo cover
- public and employer liability
- directors and officers liability
- environmental liability
- can include the first year operational policy.
Meeting insurer requirements
From concept to operation, we offer due diligence on the design, construction and operational controls that insurers require. This is achieved through forming a tripartite relationship between insurers’ engineers, underwriters and you. Preferably this is at the conception and design phase of your project. If you already have a project underway, we can offer a gap analysis on the current insurance programme and advise on preferred loss mitigation controls insurers require in order that we can obtain the best possible terms for you.
Advice for several specialist sectors
We can provide you with cover for and advise on several specialist sectors:
- Solar farms
- Wind farms (on and off shore)
- Anaerobic digestion and biogas
- Battery storage
- Combined heat and power units
- Waste to energy
Protection from development to operation
From concept to operation, your renewable energy project is at risk, which could be caused by a lack of adherence to contractual requirements, risk management and supply chain issues. We can provide full contract advise, construction and operational insurance programs to protect your investment.
Frequently asked questions
Yes. Insurers prefer to be involved as early as possible. Involving an insurer from the outset clearly benefits your project as;
- they will understand your plant; and
- you will be able to factor in loss mitigation controls they require from the outset. It is far more financially viable from a Capital Expenditure (CAPEX) perspective to do this than trying to retrofit which can be extremely costly.
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