Navigators Launches Offshore Wind Turbine Insurance

The Navigators Group, Inc. announced the expansion of its range of insurance products for the energy industry to include offshore wind turbine products.

Products offered for the Offshore Wind Turbine segment include project cargo, contractor’s all risks, delay in start up, operational material damage, business interruption and third party liability. “In response to the commitment made by many governments to develop sources of renewable energy, and growing international investment in the construction and operation of wind turbine generators in coastal waters, Navigators has developed a product for this new and expanding market segment,” said Stephen Coward, Managing Director of Navigators Underwriting Agency Ltd. “Navigators will use its combined in-house engineering and energy underwriting expertise to handle these risks, which may range from single units to large-scale windfarms. Navigators has built up considerable expertise in the insurance of construction and operational risks associated with land-based wind turbines around the world, and will combine this knowledge with our long-established marine and offshore energy experience in providing this additional service to the market,” Coward added. Coverage is underwritten by either Navigators Insurance Company or Lloyd’s Syndicate 1221.
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