Offshore Wind Industry Needs More Sustainable Approaches to Risk Management and Insurance

Claims data from specialist renewables underwriter show offshore wind cost reduction must not come at expense of risk management, with foundations, cables and Nat Cat key areas of concern

As the offshore wind sector expands globally, prices fall, and technology evolves, asset owners and investors are becoming increasingly exposed to technical and supply chain risks, alongside natural catastrophe and extreme weather. More sustainable approaches to risk management and insurance are required to ensure that this changing risk profile does not impact project delivery and successful long-term operations. This is according to GCube Insurance, the specialist provider of renewable energy insurance services, which underwrites over 13.5GW of offshore wind capacity in markets... ... More: Official Press Release GCube Insurance

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GCube Insurance, insurance, risk management, offshore, industry, global risk profile, wind sector, data, technical, supply chain, sustainable