Reducing asset insurance costs by 10%
by Rachel Anderson | Nov 30, 2021 | Reading time: < 1 min
Insurance is a fundamental protection for renewable energy asset owners and investors. In a market with a revolving door of contractors and insurance premiums that have risen by 30-40%, it’s important to have a team that knows your project in depth and can accurately communicate with insurers to reduce your costs.
An Australian RES asset management team recently demonstrated this, communicating their extensive knowledge of the asset to insurers. RES assisted the insurers in gaining a clearer and measured appreciation for key risks with:
• a proven track record of state-of-the-art asset monitoring from our 24/7 Control Centre;
• a dedicated team of wind performance experts with in-depth plant knowledge;
• strategies for improved availability; and
• forward-looking business plans.
The industrial special risk insurance came through under budget by 10% – a significant saving that was gratefully received by our clients and their investors.