Renewable Energy

Renewable Energy

Renewable Energy

In Japan and Asian countries, renewable energy sources (land/off-shore wind power, solar power, hydroelectric power, biomass-generated power, geothermal electric power generation) are receiving a lot of attention as the potential main energy sources of the future.

In order for renewable energy to become a lasting and sustainable power source that subsequent generations can benefit from, it is more important than ever before to have insurance that understands rapidly advancing technology, that can cope with a natural world that is often unpredictable, and that can guarantee the profits of investors and entrepreneurs.

Services

Risk advisory service
  • 1. Risk analysis/quantification

    We offer an estimated maximum loss calculation service and make logical risk retention and transfer proposals that take an analysis of financial resources into account.

  • 2. Loss prevention and control

    We invite wind power generation experts to perform on-site surveys, and based on these we provide an evaluation of the O&M situation and an advisory report to help reduce incidents.

Insurance advisory service (for dealing with lenders)

We check the coverage details requested by lenders and negotiate with lenders on the content of insurance.

Insurance design/arrangement & claim response

Based on the above, we provide a full range of support at all stages of the process, from the provision of appropriate coverage to incident response all the way to the receipt of insurance payouts.

Proposal approach (model)

The risks of renewables

Understanding the risks of doing business

Property risk
(Natural disasters)
Personal calamity Verification of response to individual incidents
Fire/Lightning/Ruptures/Explosions
Multiple perils Verification of risk accumulation for a hypothetical wide-area disaster
Wind-related disasters/Snow-related disasters/Water-related disasters/Earthquakes/Tsunamis/Volcanic eruptions
Estimated scope of disaster Recognition of estimated loss for every period of recurrence (from 10 years to over 100 years)
PML (Probable Maximum Loss) < EML (Estimated Maximum Loss) < MFL (Maximum Foreseeable Loss)
Visualization of amount of risk Visualization of amount of risk through risk survey
Planning of measures to reduce estimated amount of risk
Business revenue risk Actualization of property risk Reduction in sales/reduction in profit/cost increases due to repair work
Client risk Stoppage of operations due to problems with the electricity vendor's system/transformer substation
Partner risk Inability to enforce manufacturer warranty/defect warranty

Types of insurance available

Insurance for development of wind power generation

Design/production period Transportation period Construction period Warranty period
Damage to construction works
Including raw materials for construction
Marine cargo insurance / transportation insurance All-risk building insurance All-risk building insurance
(Maintenance rider)
Damage to construction machinery Marine cargo insurance
Transportation insurance
All-risk building insurance/comprehensive property insurance
Reduction in profit caused by delays in operation Operation start delay insurance
Construction work done due to a design error
Damage to structures
Professional liability insurance
Third-party liability insurance Independent contractor
Liability insurance
Product liability insurance
Work-related disasters affecting employees or construction workers Workers' compensation insurance
Consumer liability insurance
Comprehensive overseas travel insurance
Automobile operation risk Automobile insurance

Items unique to off-shore wind turbines

Performance of a marine warranty survey

What is a marine warranty survey?

  • A marine warranty survey is an investigation of off-shore wind power generation projects by a third party.
  • Carried out by a surveyor with specialized knowledge or experience, who checks documentation, participates in various kinds of meetings and visits the site in order to provide risk reduction advice and a risk evaluation.

What marine warranty surveys involve

  • Taking part in meetings with companies, builders, insurance companies, brokers, etc.
    (Kickoff meetings, regular progress meetings, technical meetings, etc.)
  • The surveyor confirms/gives feedback and advice/approves the following items.
    ✓Design planning ✓Construction methods ✓Design ✓Manufacturing methods ✓Manufacturing plant ✓Transportation methods

Main causes of special risk in Japan (Compared to Europe)

  • Difficulty obtaining special vessels, spare parts and experts
  • Lightning
  • Heavy seas/swell (frequent days when work cannot be done)
  • Typhoons
  • Earthquakes

The arranging of insurance for off-shore wind power generation projects is something quite new in Japan. Please feel free to consult us about arranging marine warranty surveys and about arranging insurance in Europe and America.

03-4306-8245

Feel free to contact us for any questions

Reception Opening Hours 9:00 ~ 17:45 (Closed on Saturdays, Sundays, public holidays and the New Year period)