AXIS
Renewable Energy
The AXIS Renewable Energy team underwrites 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 customers in this fast-growing and evolving industry.
Why AXIS?
Navigating risks with global specialists in renewable energy insurance
Report: Navigating Risk in the Energy Transition
The energy transition is among the biggest challenges of our day. Read our in-depth report on the energy transition.
Renewable Energy
Why AXIS?
Global team
Our global team provides tailored, comprehensive coverage and protection for renewable energy projects worldwide, specializing in solar, on and offshore wind, battery storage and other renewable energy technologies.
Full-service approach
Projects are assessed by AXIS dedicated underwriters and risk engineers to understand the risk from all angles - helping you and your customers make informed decisions about risk mitigation and insurance coverage.
In-house claims
When customers need us most, we’re there with a responsive and transparent claims service.
Sharing knowledge
You and your customers can benefit from AXIS renewable energy insights and knowledge from engineering best practice to mitigate risks and performance improvement and market dynamics.
AXIS in partnership with FT Live
Managing Risk For Energy Transition Projects
Learn how collaboration between developers, lenders, investors and insurance partners is key to supporting customers to deliver renewable energy projects with lifetime resilience in this Financial Times “FT Live” webinar.
Watch on-demand to hear energy industry experts plus AXIS President and CEO, Vince Tizzio and Richard Carroll, Head of Global Energy Resilience discuss:
Contrasting Perspectives
Understanding the contrasting risk perspective of developers, lenders, and insurers
Insurance Implications
Navigating the insurance implications of new technologies, larger project scales, and untested locations
Leveraging Data
How insurers leverage their cross-project data to advise on emerging risks and best practices
Capacity
- $250m company paper
- $100m AXIS Syndicate 1686 and AXIS Energy Transition Syndicate 2050
- $25m Casualty – any single project or location
SOLUTIONS
Specialty solutions tailored to your customers’ needs
AXIS Renewables provides innovation, expertise, and solutions across all stages of the project lifecycle
- Inland transit insurance for physical loss or damage, theft, and external perils
- Marine insurance for physical loss, damage, theft, or external perils. Includes marine delay in start-up (MDSU) and loss of revenue due
- Construction all risks insurance (CAR) for 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 for delays caused by issues with the first non-owned substation
- Testing and commissioning insurance for any physical loss or damage to insured equipment
- Terrorism cover for physical loss or damage, and associated loss of revenue to the insured equipment as a result of a terrorist act
- Operation all risks insurance (OAR) covers 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
- Decommissioning liability for the eventual deconstruction of the project and returning the site to its natural state
- Inland transit insurance for physical loss or damage, theft, and external perils
- Marine insurance for physical loss, damage, theft, or external perils. Includes marine delay in start-up (MDSU) and loss of revenue due
- Construction all risks insurance (CAR) for 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 for delays caused by issues with the first non-owned substation
- Testing and commissioning insurance for any physical loss or damage to insured equipment
- Terrorism cover for physical loss or damage, and associated loss of revenue to the insured equipment as a result of a terrorist act
- Operation all risks insurance (OAR) covers 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
- Decommissioning liability for the eventual deconstruction of the project and returning the site to its natural state
Renewable Energy
AXIS Explores
Renewable Energy
AXIS View
AXIS View
Joe Dutton on the risk and reward of increasing renewable energy capacity in the UK
AXIS View
Peter Fitzsimmons on how renewable energy insurance is reacting to an inflationary environment
Claims
We deliver on our promises
Effective resolution for customers is achieved with our highly skilled claims specialists focusing on:
- Quick decision making
- Championing your needs
- An honest approach
∗Claims examples may be based on actual cases, composites of actual cases or hypothetical claim scenarios and are provided for illustrative purposes only. Facts have been changed to protect the confidentiality of the parties. Whether or to what extent a particular loss is covered depends on the facts and circumstances of the loss, the terms and conditions of the policy as issued and applicable law.
