AXIS renewable lifecycle coverage
Risks begin even before your project launches. And continue long after operation ceases. Scroll down to explore the coverages AXIS offers at each stage of the renewable energy lifecycle.
Site preparation
Preconstruction developmental liability insurance
Third-party liability insurance
From the
Factory
Through
Transportation
Inland transit insurance:
Physical loss or damage, theft, and external perils.
Marine insurance:
Physical loss, damage, theft, or external perils.
Includes marine delay in start-up (MDSU) and loss of revenue due.
To
Installation
Construction all risks insurance (CAR):
Physical damage, theft, external peril. Includes delay in start-up (DSU), covering any loss of revenue due to project delays.
Contingent delay in start-up:
Delay caused by issues with the first non-owned substation.
Testing and commissioning insurance:
Any physical loss or damage to insured equipment.
Terrorism:
Covers physical loss or damage, and associated loss of revenue to the insured equipment as a result of a terrorist act.
Throughout
Operation
Operation all risks insurance (OAR):
Physical damage including mechanical and electrical breakdown, external perils including business interruption (BI) and loss of income.
Contingent business interruption:
Covers the loss of income when the first non-owned substation is damaged and the project is unable to export/sell electricity to the offtaker.
Liability insurance:
Covers third-party property damage, products liability, and sudden and accidental pollution.
Terrorism:
Covers physical loss or damage, and associated loss of revenue to the insured equipment as a result of a terrorist act.
And
Decommission
Decommissioning liability:
For the eventual deconstruction of the project and returning the site to its natural state.
Risks begin before your project launches and continue after operation ceases.
Our dedicated renewables team services a wide variety of clients, including large multi-national firms with complex risk exposures.
Explore the lifecycle of your project from pre-construction through decommission.
Work with a dedicated team of Renewables experts.
The AXIS dedicated Renewable energy team covers the entire lifecycle of a renewable energy project from site preparation to decommissioning. The combination of technical knowledge and global underwriting at AXIS, enables for better understanding of the needs of our broker partners and their clients, in this fast growing industry.
Navigating risks with global specialists in renewable energy insurance
Explore our three key areas of renewables expertise.
This product information is for descriptive purposes only and does not provide a complete summary of coverage. Coverage may not be available in all jurisdictions and is subject to underwriting. Consult the applicable insurance policy for specific terms, conditions, limits, limitations, and exclusions. Coverage is underwritten by AXIS Reinsurance Company (Canadian Branch) or by AXIS Managing Agency Ltd (“AMAL”) on behalf of Syndicate 1686. The Branch is supervised by the Office of the Superintendent of Financial Institutions in Canada and licensed in all provinces and territories. It is operated by AXIS Reinsurance Company, licensed in all 50 of the United States and the District of Columbia. AMAL is registered in England (Company Number: 08702952) with a registered office at 52 Lime Street, London, EC3M 7AF. AMAL is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Firm Reference Number: 754962). AMAL manages Syndicate 1686 and is additionally subject to the supervision of the Society of Lloyd's. The Syndicate also benefits from the strength of the Lloyd's brand, its network of global licenses and the Lloyd's Chain of Security. More information about AXIS’ financial strength and individual insurance company ratings is available at https://www.axiscapital.com/who-we-are/financial-strength-ratings.
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Claims
Clients can rest assured that when a renewable energy claim is filed AXIS focuses on:
- Quick decision making
- Championing your needs
- An honest approach