Renewables

Skuld offers the contractors working in the renewable industry mutual P&I cover combined with additional covers, such as Extended Contractual Liability (ECL) and Specialist Operations to ensure shipowners are fully protected. This cover encompasses all operations performed by vessels during the life cycle of creating and operating an offshore wind farm, such as crew transfer, installation and transportation and maintenance.

Developers and Operators of an offshore wind farm will need to charterer in a wide range of vessels in order to construct and to operate the windfarm. The charterers P&I cover will protect against marine liabilities that Developers or Operators may be exposed to.

Floating wind turbines and other floating renewable resources will need to be protected against marine risks including any claims which may arise from third parties. Skuld has created a tailormade fixed P&I cover for floating wind turbines and other floating renewable resources. Fixed P&I cover is also available to owners of smaller vessels that do not require the full limits provided by the International Group.

In addition to the risks covered under Skuld’s standard P&I cover, a catalogue of bespoke insurance covers is available to ensure that assured are sufficiently protected. Such covers include cover for Extended Contractual Liability (ECL), Specialist Operations, Subsea Activities, Towage Cover and Professional Salvor Cover etc.

Skuld is a leading H&M insurer for vessels and units operating in the offshore wind industry. Hull and Machinery insurance covers physical damage to these vessels and units, and we provide our customers with high-quality claims handling and loss prevention services associated with an IG P&I club. Skuld also provides Total Loss, Builders' Risk, and other associated products.

When constructing a wind farm, Construction All Risk(CAR) insurance is procured, which responds to property damage to wind farm infrastructure (bottom fixed and floating) during the transportation, installation, and construction phase. Skuld's cover suite includes construction all risks where Skuld brings unique marine experience into this property market.

Once the offshore windfarm has been constructed, it is usual for the Operator to procure Operational All-Risk insurance (OAR) to respond to property damage caused to the windfarm structures. This particular cover is important given the locations of the offshore windfarms, which are often close to shore and in areas where there is dense marine traffic, which increases the risk of damage to the property of these farms.