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Insurance Premiums

Posted: Thu May 11, 2017 9:57 am
by Henry_Hallidays
We have seen a hike in insurance premiums for our Low Head RoR hydro projects of nearly double.

We have spoken to the BHA's recommended brokers: Nviro, Jelf Clarke Roxburgh, Bruce Stevenson and others including Vista
They all in-turn seem to speak with the same insurance bodies who I am informed have all recently re-considered Low Head RoR to be a poor insurable risk.
This is apparently due to a surge of claims in the last few years and more recently storm Doris.

We have seen the rates on two 75kW projects each rise from £2,500 to £5,000 (Operational All Risks, Business Interruption & Operational Public Liability)

QUESTIONS TO THE COMMUNITY:

    *Has anyone else experienced these hikes, low head or otherwise?

    *Would the industry be interested in aggregating projects to benefit from lower premiums?

Re: Insurance Premiums

Posted: Thu May 18, 2017 4:24 pm
by MorHydro
Premiums have been creeping up. 2015 was a bad year for low head hydro with all the floods. Although as you say most of the brokers end up back at the same underwriters. We use Naturesave Insurance Brokers who have done a good job for us so far. Might be worth a try.

Re: Insurance Premiums

Posted: Tue May 23, 2017 8:15 am
by BSIB
At Bruce Stevenson, we have experienced claims on low head hydro, however, more of our claims have been on high head. For a claim free <100kW low head hydro we would still expect the premium to be between £2,500-£3,000 for MD/BI/PL.

Happy to look at any specific cases.

Re: Insurance Premiums

Posted: Mon Nov 20, 2017 2:37 pm
by NAbrokers
Henry_Hallidays wrote:We have seen a hike in insurance premiums for our Low Head RoR hydro projects of nearly double.

We have spoken to the BHA's recommended brokers: Nviro, Jelf Clarke Roxburgh, Bruce Stevenson and others including Vista
They all in-turn seem to speak with the same insurance bodies who I am informed have all recently re-considered Low Head RoR to be a poor insurable risk.
This is apparently due to a surge of claims in the last few years and more recently storm Doris.

We have seen the rates on two 75kW projects each rise from £2,500 to £5,000 (Operational All Risks, Business Interruption & Operational Public Liability)

QUESTIONS TO THE COMMUNITY:

    *Has anyone else experienced these hikes, low head or otherwise?

    *Would the industry be interested in aggregating projects to benefit from lower premiums?


Hi Henry,

We recently joined the British Hydro Association and would be happy to help if you have any questions.

Please get in touch on 01924 232910 and ask for Ian Jones.

Also you can find out more information here:

https://www.northernalliance.co.uk/renewable-energy-insurance/