Wind Farm Insurance
We are involved in onshore projects only and are looking to work with any business planning to develop a commercial wind farm.
Please refer to our Project Risk Model for an overview of the key areas of risk where we are actively involved and for which we can provide cost effective insurance solutions. We seek to be engaged at the earliest opportunity in a project and welcome contact with the other professional, legal and construction partners associated with a development.
Both Nviro and the chosen insurer partner can add value at every stage of a development, helping to reduce or eliminate risk and to have a beneficial cost on the insurance budget once operational.
Importantly, we are mindful of some of the specific issues relating to this form of renewable energy including:
- Marine & Transit – damage and delay as most key component parts will need to be imported
- Connections to Grid – including damage to cables, denial of access and title problems
- Advanced Loss of Profits including contractual obligations under power purchase agreements
These and other potential exposures call for a bespoke insurance approach – Nviro will build a total insurance programme from pre planning to operation of the commissioned plant, satisfying statutory obligations and providing security for both client and lender.
The insurer partners that we have chosen to trade with each has many years experience in providing cover and risk management support to wind farm operations on a global basis.
Every project will have a pre-nominated Loss Adjuster appointed with extensive experience of wind energy installations. The Loss Adjuster will be introduced to the management and operational staff of the client company and will carry out a pre loss survey in order to become familiar with the site and its operation and in particular to understand any unusual or unique features. The Loss Adjuster will be available to provide advice on business interruption and business continuity issues, asset valuations and in the event of a loss will be available on a 24/7 basis.
Insurance cover for micro projects involving single turbines can normally be incorporated into an existing insurance programme, for example where the turbine is situated on a farm location, roof mounted on a factory or within an industrial compound. We shall be pleased to help if any difficulty is experienced in obtaining cover.