Offshore wind park insurance
Risk-transfer solutions targeting contractual warranties for oﬀ-shore wind projects
Munich Re’s offshore EPC cover insurance mitigates contractual warranties for offshore wind contractors (EPC & T&I), manufacturers and suppliers after project hand-over
Transfer individual project-related risks
Technical challenges, adverse weather conditions as well as high investment and operating costs are unsettling both contractors and investors.
Our solution: insurance for individual, project-related risks targeted at contractors (EPC/T&I), manufacturers and suppliers in the oﬀshore wind industry.
During the construction and operating phases, wind park projects are generally covered against physical damage, accidents and natural hazards. There are several traditional insurance products available for this, but our solutions go further: we oﬀer contractors (EPC/T&I), manufacturers and suppliers our support in dealing with losses that can have a serious impact on the performance of their businesses. Our EPC product provides protection in case of serial losses as well as large single losses relating to the warranty obligations of contractors (EPC/T&I), manufacturers and suppliers.
Our long-standing experience of wind power projects, weather and environment assessment expertise, capacity, technical knowledge and risk-structuring excellence enables us to design tailor-made solutions, providing piece of mind for worst-case scenarios.
We have collaborated closely with players in the offshore wind area – such as energy producers, investors, developers, contractors, suppliers and lenders to identify coverage gaps that may cause ﬁnancial stress to wind projects and their value chain.
Green Tech Solutions pools expert know-how in the ﬁeld of renewable energies. We oﬀer innovative performance guarantee insurances for wind, solar, hydrogen and other green technologies.
How Munich Re’s EPC oﬀshore wind cover works
Benefits of EPC cover
It provides a substantial safeguard in the event of a large warranty claim as well as serial losses due to faulty construction (certified design), faulty material, faulty production or bad workmanship, for a period of up to five years.
Would you like to learn more about our other products?
- Protection against cost overrun for unscheduled maintenance of onshore wind farms;
- Covering shortage of revenue due to underperformance of the wind farm;
Meet us at these events
|15 September 2023||HUSUM WIND Transforming Energy|