CAR insurance
Financiers often require an umbrella policy for the construction of renewable energy projects to cover risks outside the contracts with construction partners: our CAR insurance.
Construction phase with CAR insurance
The construction of a wind turbine, solar farm or battery storage facility involves several parties with whom separate contracts are entered into with guarantees. In the construction phase, this is the Transition Services Agreement (TSA). A collection of guarantees and coverages from different insurers can have gaps where risks are not covered and parties involved point to each other for liability. For example, who covers damage to foundations, roads or crane tracks? In our bespoke insurance we can include an umbrella policy that covers risks outside the contracts: our CAR insurance. If construction is delayed, this can be co-insured. Most of the financiers will ask for this. So the sooner insurance is included in the development and tendering of a renewable energy project, the better the chances of financing.
The right insurance
In our customised insurance for renewable energy installations, we often include an umbrella agreement that covers risks outside the policies of contracting parties: our CAR insurance. This does not mean that the costs in the event of a claim will neccessarily be borne by you. We check who is liable. These are complex issues, which we are happy to take out of your hands.
All risk coverage
Security for financing
Construction for financing
Your sustainable project insured in 6 steps
Naturally, you want to be well prepared and avoid risks wherever possible. Get in touch with us early and follow these 6 steps to a sustainably insured energy project.
Introduction
We like to put energy into the relationship. A lasting relationship, if we have our way. It starts with an introduction. How did you find us, what are you looking for, what is your problem that we can help you with. If the click is there, then we go one step further.
Inventory
We get to work for you with a complete inventory. The earlier we are involved, the better and more complete we can analyse the risks. What do we need to insure, what is the specific situation, what are your wishes and what are the requirements of the financiers? Do you already have contracts in place and do you need to consult your advisors and/or an LIA?
Offer
Based on the inventory, we present our proposal with an offer.
Improve
We give you time to go through our offer and discuss it with your advisers. We incorporate feedback and together we connect the dots.
Start
The final offer is in front of you. You sign it for approval and this officially starts our long-term collaboration.
Insurance
The signed quote is the green light for us to prepare the policy. We can do this in-house, thanks to PMP Assuradeuren. During the insurance phase, we remain easily accessible and are there for you when you need us. For questions, claims and new challenges. We will also proactively keep you informed of developments relevant to your insurance. We will contact you periodically because we are interested in the status of your renewable energy installation and whether the insurance still meets your needs and specific situation. We will be in constant contact.
Curious about the possibilities?
Although you will find a lot of information on this website, we prefer to discuss your situation and insurance needs in person. Please contact Martin or Ruben for a good chat.