Posters
Come meet the poster presenters to ask them questions and discuss their work
We would like to invite you to come and see the posters at our upcoming conference. The posters will showcase a diverse range of research topics, and will give delegates an opportunity to engage with the authors and learn more about their work. Whether you are a seasoned researcher or simply curious about the latest developments in your field, we believe that the posters will offer something of interest to everyone. So please join us at the conference and take advantage of this opportunity to learn and engage with your peers in industry and the academic community.
PO216: Insurance Claims Insights from the Offshore Wind Industry
Sophie Draper, Renewable Energy Engineer, AXIS
Abstract
AXIS is a leading insurer of offshore wind projects and over the past 15 years has gathered extensive data on claims paid for physical damage events during both construction and operation. By analysing this data we aim to deliver insights on risk management best practice to a wider audience. Identifying trends in the root causes of claims is key for both the insurance industry and the wider wind energy community, in the perspective of a sustainable and resilient wind energy industry. Our initial analysis suggests that over the past few years, offshore wind turbine mechanical and electrical breakdown (MEB) claims have overtaken subsea cable failures as the main source of claims for both property damage (PD) and business interruption (BI). Among various causes of failures, defects account for a major portion of offshore wind turbine MEB claims and as the size of turbines increases so may the cost of carrying out repairs. Further results pertaining to claims trends and breakdown by category of cause of claim will be displayed and discussed as our data analysis unfolds.
No recording available for this poster.
