Insurer with Global Insight in Offshore Wind
NIORD insure 80% of all active Offshore Windfarms in the world outside of China mainland. The large involvement gives them valuable knowledge that benefits both their customers and the industry as a whole.
Being involved with 80% of the global market (not including China), NIORD’s insight into damages and causes, spans the entire lifecycle of an offshore wind farm:
Pinpoints causes for damages
Since 2018 NIORD has registered damages for more than $1,2 bill on 100% basis. Thus, they know what causes these issues.
During construction, they identify patterns in incidents and damages that can occur when foundations, turbines, and cables are being installed.
In the operational phase, they monitor the development of wear and failures over time, and can document what represents the greatest risks.
- 52% of damages are due to component failure – such as cables, generators, or blades.
- 29% of incidents occur during offshore installation, making the construction phase a critical risk area where NIORD provides valuable insights.
- 19% of damages come from collision or striking, heavy weather, fire or other causes.
With this holistic perspective, NIORD can pinpoint the causes behind damages, helping customers predict risks and take preventive action.
The result is lower costs and safer projects – benefiting the entire industry.
NIORD recently presented key figures and trends to our resource group for renewable energy in Bergen.
In doing so, they actively contribute to strengthening collaboration and building a common understanding of what it takes to succeed in this market.
Would you like to learn more about how NIORD can support you with insurance and risk management please don’t hesitate to get in touch them.
You can read more about how to join our resource group for renewable energy here.
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