Offshore wind claims are also very consistent. The most common and complex losses usually involve cable damage, involving installation or connection issues. We see failures of cables joints and the cables themselves due to water ingress. We also see a number of offshore foundation claims, generally during construction, which can be costly. In Offshore claims the cost driver is often due to vessel availability and waiting on weather for mobilisation, which increases the business interruption period and related expense.
Looking at the issue overall, unless renewable energy asset owners and operators fully appreciate and consider the changing nature of the industry, claims will become more expensive and in the case of weather more frequent. Larger wind turbines necessitate larger cranes and vessels, which are often in high demand, raising costs. As secondary perils continue to rise, project design must consider the full lifespan of the project and the possible change in weather conditions.
As we move forward, there several things that can be done both to decrease the number of claims and improve communication when claims are made.