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OFFSHORE RENEWABLE ENERGY CATAPULT has floated a tender for Floating Offshore Wind Insurance. The project location is United Kingdom and the tender is closing on 05 Apr 2024. The tender notice number is OREC001-DN715350-94083471, while the TOT Ref Number is 98742435. Bidders can have further information about the Tender and can request the complete Tender document by Registering on the site.
Procurement Summary
Country : United Kingdom
Summary : Floating Offshore Wind Insurance
Deadline : 05 Apr 2024
Other Information
Notice Type : Tender
TOT Ref.No.: 98742435
Document Ref. No. : OREC001-DN715350-94083471
Competition : ICB
Financier : Self Financed
Purchaser Ownership : Public
Tender Value : GBP 40000
Purchaser's Detail
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Login to see detailsTender Details
Title : Floating Offshore Wind Insurance
Location Of Contract : United Kingdom
Industry : Insurance consultancy services - 66519310
Value Of Contract : £1 to £40, 000
Description : This project intends to build on previous work completed, which explored project finance and insurance for FOW. This work focused on examining the current views and proposed approach of the insurance community to insuring FOW projects. Findings from the project highlighted areas of critical significance to insurers which this project can utilise in helping to determine the technology options and specific key risks to consider. The project will consider representative sites based on planned developments of both early small scale and future large-scale FOW. As seen in fixed-bottom, lessons learned and data shared from earlier small-scale FOW projects will help to influence insurers' approach to later large scale projects.Building on this previous work, this project aims to quantify the financial implications of these key risks. Specifically, to outline the potential frequency of claims, the impact/size of claims and the activities in terms of cost and resources which will be required to resolve them.This project has the opportunity to provide valuable findings to key stakeholders and wider industry to support the development of FOW. By assessing the areas of critical concern for insurers and identifying ways to mitigate and fill these existing gaps in...
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