Winds of change in renewable energy insurance
Post Podcast: How insurers are supporting the switch from fossil fuels, providing cover for older windfarms and helping develop greener forms of energy is the subject of the latest podcast.
Daniel Stevens, head of engineering, renewable energy, at Axis, said providers are calling on the expertise of fossil fuel experts to ensure a seamless transition to newer technologies, such as floating wind.
Speaking during the latest Insurance Post Podcast, he said: “We see a lot of synergies between fossil fuel and renewable energy insurance.
“There are a number, for example, within offshore wind who are taking the expertise they have learned from operating offshore oil and gas assets and bringing that to bear on newer technologies, such as floating wind.
“The experience they have of running these assets in very harsh sea states for 30 or 40 years is all a really positive contribution to the design and operation of this new technology.
The experience they have of running these assets in very harsh sea states for 30 or 40 years is all a really positive contribution to the design and operation of this new technology.
Daniel Stevens, head of engineering, renewable energy, at Axis
That [experience] is going to be crucial as we look to expand our renewables to not just established areas like Europe but to other markets worldwide.
He said by Axis having an engineering team that is embedded within the underwriting team, the company can work hand in hand with insureds to understand where their expertise lies and how to offer the best fit for their cover they require.
Michael Morgan, founder and chief underwriting officer of MGA Viridis, Nigel Spencer, global development manager at RSA, and Nick Evans, underwriting manager for renewable energy at Aviva, also discussed availability of cover for older windfarms, the challenges associated with larger turbine sizes plus the cyber security risks facing renewable energy providers.
As well as being able to listen to the podcast by clicking on the player above, you can also download and keep this episode of the Insurance Post Podcast to listen to anytime, anywhere you want to.
To download the episode, go to your podcast provider of choice (Apple, Google, Samsung, Spotify, Audible) and search for Insurance Post.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Commercial
Allianz deal to bring Coalition to 15 markets by mid-2027
Coalition CEO Joshua Motta has told Insurance Post the firm’s partnership with Allianz will take it into 15 countries by the end of June 2027.
Allianz’s Lalwani on need for collaboration around AI governance
The insurance industry must work together to implement customer-centric artificial intelligence governance, according to Allianz UK’s chief data officer Akhil Lalwani.
Are insurers ready for autonomous vehicle crashes?
William Balfry, member of the motor sector focus team at the Forum of Insurance Lawyers and senior associate at DWF, examines the increasing rollout of automated passenger services and insurers will soon have to handle claims resulting from collisions.
KPMG’s Evans reveals US investors set to snap up UK insurers
US investors are lining up to buy mid and top-tier UK MGAs and brokers in the year ahead, according to Huw Evans, partner and head of insurance at KPMG UK.
Top 30 European insurers of 2026 revealed
Europe’s Top 30 non-life insurers achieved another year of solid top line growth in 2025, although exchange rate changes affected revenue negatively when converted to euros.
Time:To – Axa’s Crane on how to meet regulatory requirements
How artificial intelligence can be used to satisfy the Financial Conduct Authority is outlined by Mike Crane, managing director of Axa Commercial, in the latest Insurance Post Time:To video.
Axa outlines plan to drive organic growth and scale AI
Axa’s new strategic plan focuses on “accelerating customer-driven organic growth at attractive margins, and scaling AI to deepen our competitive moat”.
Diary of an Insurer: Zurich’s Paul Green
Paul Green, Zurich UK's multinational hub manager, engages with brokers, leads underwriters, enjoys river walks with his dog and late-night F1 racing sessions.