24th September 2023

Offshore wind industry poised for growth but economic pressures and tech innovation need to be managed-Allianz

In its new report, "A turning point for offshore wind", Allianz Commercial highlights growth opportunities, tech innovations, risk trends, and loss patterns for the global industry:
-Damage to cables is the top cause of insurance claims, followed by turbine failure.
-Speed of build-out is creating pressure on materials and supply chains, port infrastructure, and available construction and maintenance vessels.
-Bigger turbines and new technology drive bigger exposures for insurers which need to be understood in partnership with developers.
-Weather and natural catastrophe risks are increasing as sector expands into new territories.

Allianz Trends(807 articles)