Renewable Energy Insurance

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Renewable Energy Insurance 2017-11-15T15:36:55+00:00

Renewable Energy Insurance and Risk Management

We are independent Commercial Insurance Brokers working for our clients in providing bespoke and renewable energy insurance policies to UK and Irish businesses in the renewable and alternative energy sectors.

Why Do you Need a Specialist Energy Insurance Broker?

It can be hard to find a policy that really meets your unique needs. Commercial Insurance providers don’t always understand the complex risks associated with renewable energy insurance. That means you can easily pay over the odds, or risk finding that you’re inadequately covered should you need to make a claim.

We’ve got a full understanding of project life cycles and the regulatory framework, and we work closely with businesses and/or their advisers to make sure every detail is covered.

KEY MARKET SECTORS

Anaerobic Digestion Insurance

Wilson Insurance Brokers has vast experience working with companies involved in a whole host of different Bio Energy activities from start up businesses to those already operating plants. We are continually adding to our knowledge of developments within this sector by carrying out many site visits where existing technology is being refined or where new processes are undergoing trials.

We work with a small number of key bespoke insurers with years of experience on a global basis in insuring Bio Energy plant and equipment and the associated risks in connection with the operation of these businesses.

Our experience enables our business to provide an overview of the major areas of risk which we discuss with clients and a bespoke insurance portfolio is then prepared to cover the relevant contingencies. Many insurance risks are common to all renewable energy plant and equipment but we are conscious of the need to look at plant breakdown and consequential losses as key features of the insurance portfolio for businesses in this sector.

Wilson Insurance Brokers operates in all of the key areas of Bio Energy including:

Biomass Insurance

We would like to engage with any business planning, building or operating a commercial Biomass Boiler, Biomass Generator, Combined Heat & Power Plant or Energy from Waste Plant fuelled by any source including wood chip, wood pellets, straw, waste wood (building materials, saw dust or thinning’s), poultry litter, MBM (meat and bone meal) or sugar processing waste.

Biogas Insurance

Our target markets under this heading are firstly businesses planning or running Anaerobic Digestion plants using food or animal waste as the raw materials.

Biofuels Insurance

Our recent enquiries have included commercial production of Biodiesel from recovered waste vegetable oils, fats and greases.

Wilson Insurance has vast experience working with one of Ireland’s leading renewable energy companies and not surprisingly we are talking to many individuals, community groups and businesses regarding insurance cover for proposed and existing schemes and are very active in providing insurance solutions for the Hydro Power sector. Wilson Insurance has vast experience working with one of Ireland’s leading renewable energy companies and not surprisingly we are talking to many individuals, community groups and businesses regarding insurance cover for proposed and existing schemes and are very active in providing insurance solutions for the Hydro Power sector.

Micro Hydro Power

Below 100kw (roughly enough to supply one/two houses)

Mini Hydro Power

100kw – 1mw (enough energy to power a small factory or off grid community)

Small Hydro Power

1mw – 50mw (general supply power to the electricity distribution network)

We are able arrange insurance cover and risk management support at any point within the project timeframe from conception to operational risks, although there is no doubt that there are benefits if we can be involved at the earliest opportunity to provide valuable input.

In simple terms, once operational the insurance programme for a scheme will fall into three key areas, Assets, Income and Liabilities but there are specific issues which apply to Hydro Power schemes and to which we pay close attention in order to secure the widest cover available:

  • Many projects are in isolated or remote areas with access problems
  • Mechanical Breakdown is a common feature
  • Mudslides can cause problems from time to time
  • Flooding from various causes

We seek to create a close working partnership with our clients and the technical staff of the selected insurer to overcome these problems. To discuss your insurance requirements, please contact us today and we will be happy to advise.

We are involved in onshore projects only and are looking to work with any business planning to develop a commercial wind farm.We are involved in onshore projects only and are looking to work with any business planning to develop a commercial wind farm.

We seek to be engaged at the earliest opportunity in a project and welcome contact with the other professional, legal and construction partners associated with a development.

Both Wilson Insurance Brokers and the chosen insurer partner can add value at every stage of a development, helping to reduce or eliminate risk and to have a beneficial cost on the insurance budget once operational.

  • Importantly, we are mindful of some of the specific issues relating to this form of renewable energy including:
  • Marine & Transit – damage and delay as most key component parts will need to be imported
  • Connections to Grid – including damage to cables, denial of access and title problems
  • Advanced Loss of Profits including contractual obligations under power purchase agreements

These and other potential exposures call for a bespoke insurance approach – Wilson Insurance will build a total insurance programme from pre planning to operation of the commissioned plant, satisfying statutory obligations and providing security for both client and lender.

The insurer partners that we have chosen to trade with each has many years experience in providing cover and risk management support to wind farm operations on a global basis.

Micro Projects

We are involved in onshore projects only and are looking to work with any business planning to develop a commercial wind farm.

We seek to create a close working partnership with our clients and the technical staff of the selected insurer to overcome these problems. To discuss your insurance requirements, please contact us today and we will be happy to advise.

+44 28677 23366

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