'Renewables buildout to drive insurance claims'
- Admin
- Sep 10, 2024
- 1 min read
As the renewables sector experiences a new wave of global construction activity, projects face risks from factors like contractor errors, natural catastrophes, and extreme weather events. These risks may lead to delays and increased construction claims. GCube's report 'Arrested Development: Managing complex claims in the boom-and-bust world of renewables construction' highlights the challenges faced by insurers and asset owners in settling complex claims in both onshore and offshore sectors. The report emphasizes the significant impact of contractor errors in offshore wind losses and the role of weather-related events in onshore construction losses. GCube recommends robust project planning, monitoring, and maintaining quality control in the supply chain to navigate the challenges in the renewables construction sector.
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