Hydro insurance plan protection we can offer when building your project
We'll manage the risks associated with the construction stages of your project, as well as arranging the correct levels of cover to protect your business, including:
- employers liability insurance
- public liability insurance
- professional indemnity insurance
- contractors all risks insurance, including contract works insurance
- delay in start-up and advanced profits insurance
- goods in transit insurance/marine insurance
- environmental liability insurance
- legal expenses
- reinstatement/decommissioning insurance – as an alternative to a bond.
How our hydropower insurance team can help
From micro-projects to large-scale hydropower plants, community or privately funded, whichever end of the scale your business sits, we're here to help.
Our team of experts will find the best way to manage your unique risks, protect your assets and your people. We'll give you the advice and support you need, whenever and however you need it.
Risks to your hydropower project you need to consider
We understand the risks your project faces:
As with all machinery, hydro plants can breakdown; labour and replacement parts are expensive.
Because hydropower sites tend to be remote and rural locations, you may face logistical problems receiving replacement parts. Delays can result in significant disruption to your hydro plant.
Landslides, snowslides, and flooding present a risk of damage to your plant, particularly in the winter months.
Even though other renewable technologies' replacement and repair costs are reducing, the cost of hydro is still high compared with other renewables. But we've got your hydropower plant insurance needs covered.
Many owners are now including battery energy storage systems (BESS) as an extension to the existing plant. Find out the risks associated with a BESS.
Hydropower insurance for day-to-day risks
Once your project is up and running, you'll need cover to protect against everyday operational risks, such as:
- all risks insurance cover for plant/ equipment
- loss of revenue insurance (business interruption cover)
- public liability insurance
- legal expenses.
Protecting your renewable energy project
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
- 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.
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.
We support specialist renewable energy sectors including:
- Anaerobic Digestion (AD) and biogas plant insurance
- Battery energy storage systems (BESS) insurance
- Biomass plant insurance
- Combined heat and power units
- District heat network
- Electric vehicle (EV) charging networks
- Gas filling stations
- Geothermal plant insurance
- Hydro plant insurance
- Marine insurance
- Solar energy insurance (minimum capacity 250kW for commercial purposes)
- Waste to energy
- Wind farm insurance (on and offshore) (minimum capacity 250kW)
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.
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.