Renewable Energy Codan| Proactive risk management

Supporting our clients managing risks

Risk engineering services remain an integrated part of our business model and partnership approach. Our team of dedicated engineers conduct onshore and offshore surveys on all renewable energy related assets – from the turbine generators, to the offshore substations and onshore assets. Reporting on recommendations and findings always includes views and sparring on business continuity planning and constructive assessments of adequacy of spare parts.

Early engagement improves risk profile

Close and long-term relationships with our brokers and clients are the basis of our business. We strive for early engagement and offer our insured clients sparring sessions on risk mitigation and business continuity planning including review of existing spare part strategies. In an open dialogue with client and broker we share our risk management and sector experience.

Case study from the North Sea

During an inspection of an offshore wind farm in the North Sea one of our engineers discovered a critical error in the cable connected to the transformer. Subsequently, repairs were urgently made, whereby a major outage was avoided. The error could at a later stage have caused severe damage to the transformer with costs amounting to up to £10 million.

Thanks to a transparent collaboration and swift effort by the insured; significant costs related to deductibles and waiting periods were avoided and the risk profile of the asset was significantly improved.

"Codan is a professional and respected partner for Northland Power‘s offshore wind assets across Europe. We have been pleased with Codan’s claims handling which reflects their knowledge and experience in the field and we look forward to future collaboration on these exciting projects."

Dr. Benjamin Miethling
Director, Asset Management, Northland Power Europe GmbH