Insurance of alternative energy
We provide insurance coverage
Unfavorable circumstances can lead to a decrease in the productivity of facilities, which is especially critical for energy companies that rely on a constant flow of electricity.
Insurance helps to solve the problem of income shortfall due to unplanned interruptions in the operation of facilities that occur as a result of
- the need for a long time to deliver new units and spare parts from abroad
- labor-intensive repair work
- lack of specialized equipment to restore damaged alternative energy facilities, which causes long-term downtime and significant loss of profit
Benefits of insurance in INGO
All-risk cargo insurance
This type of insurance provides cover against unforeseen expenses during the transportation of equipment to the place of installation or operation.
Our insurance solutions cover against
• damage during loading/unloading
• total loss resulting from an accident
• accidents on the container line (fire, general shipwreck)
• other risks
Construction and erection risks
We indemnify for unforeseen expenses that may occur at any stage of construction - from the start of preparatory work to the commissioning.
What can be insured:
construction and installation works
materials, installed equipment
temporary structures
the customer's existing property on the construction site
costs of clearing the territory after the insured event
liability to third parties
All-risk property insurance
Protect your property from all risks during the operation of facility, namely
• external physical impact
• equipment breakdowns
• other risks
Business interruption
Additional coverage to the main list of risks, which provides the company with indemnification for indirect losses resulting from the insured event at the insured facility.
Additional insurance covers the risks of termination (suspension) of the company's commercial activities as a result of death, damage and/or loss of the insured property.
What can be insured:
• the insured's conditional fixed costs (not dependent on the company's turnover)
• lost average profit of the insured.
outlook - "Evolving"
8.12.2023
What are the most common causes of an insured event in the field of alternative energy?
The most common risks in the field of alternative energy are:
- improper operation
- errors during installation (human factor)
- errors in the design
- fire risks (especially in case of violation of grass cutting regulations)
- lightning strike
- explosion
- natural disasters
- actions of animals
- other
How is the cost of insurance coverage formed?
The cost depends on the choice of insurance coverage options. INGO offers two levels of such protection: Basic and Extended, in each of which you can choose only the risks that are important for your facility.
INGO specialists will help you choose a set of insurance solutions that will meet the needs of your company.
What is included in the basic level of protection?
The basic level of protection includes:
- All-risk cargo insurance
Cargo - ICC A/all risk
- Construction / Erection all-risk insurance
CAR/ EAR
- Property all-risks and business interruption insurance
PD (All risks or named perils)+BI
What is included in the extended protection level?
The extended level of protection includes the following risks:
- PVI (incl. terrorism)
Terrorism, sabotage, diversion, riots and/or strikes and/or civil commotion, intentional damage, rebellion, revolution, military and/or coup d'état, war and/or civil war.
- ALoP
In case of an insured event during construction and erection works that leads to a delay in the launch of facilities, we will indemnify not only the amount of direct damage, but also the lost profit.
- MLoP
Coverage of lost profits due to sudden and unforeseen failure of mechanical equipment as a result of mechanical breakdowns during operation.
- Project Cargo
Indemnifies for possible loss of profit due to a delay in the delivery of equipment to the construction site, which led to a delay in the launch of facilities.
What construction and erection risks are covered?
Under the section "Material damage", the insured property is provided with insurance coverage against the following risks:
- Fire, explosion, lightning strike, fall of aircraft
- Natural disasters: storm, hail, flood, earthquake, snow pressure, landslide
- Accidents of engineering networks
- Ground subsidence, flooding by groundwater
- Burglary, robbery, assault, road traffic accident
- Errors during installation
- Damage during lifting operations
- Other risks
The section "Liability insurance" covers the costs of compensation for damage to:
- property of third parties during construction and erection works.
- life and health of third parties during construction and erection works.
