Wind Insurance Services
Sciemus insurance services provide a unique and objective understanding of risk at both component part, turbine and farm level, enabling identification of risk critical areas with the objective of:
- Managing risk and volatility
- Avoiding financial loss
- Increasing profitability
Products & Services
Sciemus have designed a range of products catered to the needs of insurers, stakeholders and other risk specialists wind power assets.
Underwriting Risk Review
Underwriting risk reviews contain all relevant analysis to assess the quantified risk of a wind turbine or farm at component, operational and turbine level. This will include the operators history, a turbine or farm overview detailing values, average sum insured, days on risk, insurance policy comment, turbine technical risk rating, key component risk identification, technical issues and underwriting recommendations.
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Insurance Programme Design
Insurance Programme Design assists in the structuring of conventional property insurance coverage for the most effective risk transfer. Sciemus can also establish changes to the amount of risk contained within each portion of the programme if deductibles are increased/decreased – this is not a linear relationship as one might expect due to the changes to risk profile from applying policy wide deductibles to specific components – particularly critical if multiple technologies are present on a single risk. The entire outage profiles of each farm can be analysed in order to specify:
- The amount of risk retained on the balance sheet
- The attachment points and programme design for retained, primary and excess layers
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