From an underwriting perspective, claims patterns support several trends already emerging in the market: tighter wording and sub-limits around cables and other high-severity components, including explicit treatment of defects, liquidated damages and remedial actions; Greater use of warranties and conditions relating to installation procedures, burial depth, safety systems and inspection arrangements; More detailed ratings that vary by turbine class, site conditions, contractor experience and supply chain strength; and increased reliance on engineering referrals and independent technical review, particularly for new technologies such as floating foundations and high-voltage export systems.
AXIS offshore wind claims study highlights loss drivers and pressure points for insurers & more related News Here
