Renewable energy projects risks, renewable energy insurance

Renewable energy projects insurance

Specialist cover to protect your renewable energy projects

As a specialist renewable energy insurance broker, we can arrange cover that protects your project from concept to completion and beyond:

  • abortive planning cover
  • complex claims negotiation and settlement – provided by technical claims experts
  • cyber liability
  • directors’ and officers’ (D&O) liability
  • due diligence to ensure contractual and lender's insurance requirements are met
  • employers', public, products and environmental liability
  • erection all risks and contract works insurance
  • financial security in respect of decommissioning
  • marine cargo and transit
  • mergers, acquisitions, divestitures and related runoff or tail programmes
  • operational phase insurance that includes material damage business interruption and mechanical breakdown
  • Owner controlled insurance programme (OCIP) including protection for the delay in start-up covering your advance loss of profits
  • public, environmental and employer liability
  • supply chain insurance (e.g. installers, contractors, professional services, maintenance).

How our renewable energy experts can help

From managing the risks your renewable energy projects face to reducing claims and disruption to business, we're here to help. We'll protect you, your business and your employees.

Because of our extensive understanding of this unique sector, you can be confident your renewable energy insurance is in safe hands with us.

We are the insurance affinity partner for the Renewable Energy Association and the Anaerobic Digestion and Bioresources Association.

We know you're busy, so let us take care of finding the right renewable energy insurance that's right for your project. That's one less thing for you to worry about.

Get in touch with a renewable energy insurance expert

By taking the time to assess your individual needs, we’ll explore the renewable energy insurance market and arrange the cover that’s right for your business.

We understand your renewable energy project's risks

Your renewable energy projects face many challenges and unique risks. We know it can be tough to find adequate renewable energy insurance, but we're here to support you.

  • Assessing the risk
    Every renewable energy project should begin with a thorough assessment of the risks associated with your plant. Regardless of the project's technology, it's essential to carry out due diligence.
  • Risk management
    From the early planning through to construction and completion, your project will face different risks. Identifying these risks and having plans in place to manage them is crucial.
  • Crisis support
    There's never a good time for a crisis to hit. Still, with the correct management and advice before, during and after an incident, we'll help your project survive the unforeseen.
Danger sign for renewable energy construction risks

Risks your renewable energy project might face

Maybe this is your first project, or perhaps you're an experienced investor.

Whatever your situation, arranging insurance cover and mitigating risks – such as environmental hazards, theft, equipment damage, financial, health and site management – should all be prioritised during the planning process.

Renewable energy project planning

Risks that result from planning decisions

Planning that involves collaboration with various stakeholders can present challenges. It's essential to be aware that assumptions made while planning your project may become apparent at a later stage.

For example, decisions made early in the process could result in the project being suspended or even cancelled due to finance, procurement fails or technological risks. Abortive planning cover will protect your project against these risks.

Land survey of construction site, renewable energy project

Risks that construction agreements can create

Significant risks to your project that need identifying, rationalising and managing will be driven by agreements made during the concept and planning stages.

So, it's important to seek financial advice relating to your agreement when applying for funding at the pre-construction stage and immediately before construction begins.

When you're arranging contractors and planning the design of your project, speak to your broker to understand what's needed to get cover once your site is operational. Your time invested at this stage will mitigate the risk of having to change designs and fittings in the future – avoiding costly delays to your project.

Renewable energy insurance, renewable operational risks

Risks at operational stages

Suppose your project needs a high level of financial investment. In that case, it will likely be high profile and require a steady, long-term financial return.

Any loss of productivity or interruption to an energy plant's intended performance may have long-lasting consequences for everyone involved.

Frequently asked questions

The cost of your wind turbine insurance will depend on many factors such as:
  • the number of turbines you want to cover;
  • the make and model of the turbine(s);
  • where the turbine(s) are located;
  • the MW power of the turbine(s);
  • the claims history;
  • the level of cover and the types of cover your require;
  • the maintenance of the turbine(s) and;
  • the security and access to the site.
Our specialist renewable energy insurance experts can help explore the renewable energy insurance market and arrange cover that's right for your business.

Your policy should match the specific complexities of your project and there is no one-size-fits-all solution. We work with insurers to tailor coverage to suit your needs from project planning through to operational. This can include product cover such as:

  • Construction/erection all risks (EAR) and liability covers (TPL), plus delay in start-up.
  • Owner controlled insurance programme (OCIP)
  • Operational 'all risks' property damage, machinery breakdown and business interruption.
  • Environmental liability.
  • Marine cargo including (DSU) / advance loss of profit (ALOP).
  • Employers, public liability and products liability, Directors & Officers (D&O) and trustee liability.

The cost of your insurance will depend on many factors such as:

  • The types and level of cover you require
  • The loss controls that you have in place
  • The maintenance of your project
  • The installed capacity of your project
  • The security and access to the site.

Our specialist renewable energy insurance experts can help explore the renewable energy market and arrange cover that’s right for your business.

We support specialist renewable energy sectors including:

Our team of specialist renewable energy insurance experts understand this ever-changing industry and are here to help. By taking the time to assess your individual needs, we'll explore the renewable energy insurance market and arrange the cover that's right for your business. That's why we're a valued member of the Renewable Energy Association and the Anaerobic Digestion and Bioresources Association.

  • Specialist – over 400+ renewable energy clients across the UK.
  • Experience – Actively engaged in future-proofing the UK’s renewable energy market.
  • Consultative – We’re advisers, not salespeople, here to support you, your project and your stakeholders.
  • Committed – Representing your best efforts and what is best for your project.
  • Capable – Access to insurance and risk services as part of one of the world’s largest brokers, Marsh McLennan.
Ideally, during the design phase of your project to enable us to discuss with insurers and ensure it meets their requirements before construction commences. However, please reach out to our expert team and we can support your insurer conversations during the construction phase and once operational.