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Speed of build-out is creating pressure on materials and supply chains, port infrastructure, and available construction and maintenance vessels. Bigger turbines and new technology drive bigger exposures for insurers which need to be understood in partnership with developers.
In its new report, ‘A turning point for offshore wind’, Allianz Commercial highlights growth opportunities, tech innovations, risk trends, and loss patterns for the global industry. / Damage to cables is the top cause of insurance claims, followed by turbine failure. / Speed of build-out is creating pressure on materials and supply chains, port infrastructure, and available construction and maintenance vessels. / Bigger turbines and new technology drive bigger exposures for insurers which need to be understood in partnership with developers. / Weather and natural catastrophe risks are incr...
The offshore wind industry is poised for growth, but economic pressures and technological innovation need to be managed, says Allianz Commercial in its new report.
The offshore wind industry is poised for growth, but economic pressures and technological innovation need to be managed, says Allianz Commercial in its new report.
Natural catastrophe threats on the rise as segment continues to expand