It is clear that secondary perils require stricter evaluation than in previous years.
As the renewable energy sector continues to expand, it is paramount that the risks for existing and new developments are effectively quantified and mitigated against, especially in the context of ongoing urbanization and the growing numbers of assets in exposed areas. Projects should be built taking into account, possible weather changes for the lifecycle of the project and not just those occurring at the time of the projects’ construction.
In 2021, we will continue to share our insights on best practice with you and look forward to working with you as our trusted partner.
For more information on the threats to renewables energy projects of Flood, Wildfire and Hail please go to axiscapital.com/insurance/renewable-energy