protecting your Renewable energy project
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.
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 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.
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).
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.
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.
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.
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.
What our clients say
Paul Bille, Director
Vale Green Energy Limited
Looking for and deciding upon Renewable Energy Insurance is usually a testing process, however, we have received a first rate service and I would be happy to recommend Marsh Commercial. I am extremely happy with the policy provided and was particularly impressed with the knowledge and expertise demonstrated in such a specialised field.
Frequently asked questions
Whatever you do in the sector, our experience enables us to negotiate competitive insurance and risk management solutions focused on your needs.
The sectors we can cover are:
1. they will understand your plant; and
2. 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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