Clean Energy

Protecting the environment can be pricey but neglecting to protect yourself can be more expensive!
There is tremendous emphasis on reducing carbon emissions in the world. Unsurprisingly, the renewable energy sector has taken rapid strides with continuous year on year growth, yet is still ways away from reaching its potential. With that said, the stakes are high which means the risks are also high.

Wind Turbine and Energy

Wind turbines require substantial investment. However, with no guarantee of returns, it subsequently presents itself as a high risk operation. As we continue to align our goals of making the planet greener, the wind turbine industry will play a big role as it is only getting started and potential is yet to be realized.

Determining the feasibility of a project should be accomplished by taking  construction, technology, payment, operational maintenance, financial liabilities and potential revenue streams into account. Every phase of investment will have unique challenges and risks, such as cost overrun, delays, start-up and testing problems, contract and payment defaults, hidden defects or a catastrophe. These risks can be mitigated with prudent insurance coverage. For example, a blade failure without adequate insurance coverage can lead to an array of mortifying problems, such as claims for the cost of cranes, crew and materials, and ultimately impacting revenue streams.


Solar Installations

Solar installations have continuously increased over the years. Careful consideration is required at each stage of the project, including construction, testing, during operation and equipment in transit. Machinery breakdown can happen at any time, as perils such as floods, storms, fire and lightning can lead to unwanted disruption.

Furthermore, with high dependency on certain weather conditions, an obscured sky may have an impact on revenue and it can be detrimental. With unpredictable weather conditions, income can be affected. We can arrange a parametrics cover for the reduction in expected yield, that can trigger coverage without needing proof of damage.


Biomass, Anaerobic Digestion and Landfill Gas extraction

More and more organizations are transforming organic waste into energy to power their facilities. Unsurprisingly so, as it benefits the environment but it does not come without risks. Before considering biopower production, It is crucial to question your readiness to utilize its advantages. Are your employees adequately trained? Have you accounted for specialized maintenance requirements? Have you considered the risk of equipment breakdown? What do you depend on to get a consistent source of biomass fuel? These discussion points need to be addressed accordingly in order to minimize issues and failures. Nonetheless, even with maximum care and effort in designing a smooth and seamless operation, there are events out of your control that can go astray, as the use of raw materials can be quite risky. Thus, it is better to be prepared with insurance.


Hydro, Tidal and Wave Energy

Hydro projects require high attention to detail, from before the plant is built until it is in operation. With coverage for equipment and plant in transit, construction and erection, testing and commissioning, insurance can financially protect you in numerous situations. Issues such as mechanical breakdown or damage to installation from disasters can cover for loss of revenue. As a significant amount of space is used, it can also impact the surrounding areas and insurance can protect you from any legal costs and compensation from lawsuits.


At CHAZ, we are always on top of the ever-changing landscape of industries with high prosperity, such as green energy. We can assist you on all fronts in analyzing risk exposure and providing solutions to mitigate it. We understand the complexity that comes with such an important industry and the magnitude of benefits it can provide. We pride ourselves in minimizing as much exposure as possible while providing favourable pricing.

Important Disclosure

Through our vast experience, CHAZ Insurance Brokers Ltd. recognizes and understand that each and every business, organization and industry are unique in their own ways and can have completely different risks. Henceforth, the content provided are solely examples of the risks that may or many not be relevant to your business. To learn more, contact us on the form below.

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