Insurance specialist Genillard
& Co. GmbH of
Germany have spent much of 2016 interviewing leading stakeholders within
the Offshore wind insurance sector to get their view on what risks the
Offshore Wind industry is facing. and in Mandatory introduction of a Code
of Conduct for Submarine Cable Installation, and because of the frequency
of incidents & accidents related to sea cable laying in the offshore
wind power projects it would make sense to have the defined ISO, ICPC &
SCIG standards and quality management systems omnipresent in future projects.
Around 4.600 subsea cables have been laid and are serving offshore wind
farms in all markets.
There are around 10 declared incidents annually of cable failure, with
an average cable downtime of 100 days.
Subsea cable incidents account for between 70 and 80% of the total global
cost of offshore wind farm insurance losses, but account for only around
10% of the overall cost of an offshore wind project. 90 subsea cable
losses occurred in the past 7 years, totalling over EUR 350 million in
“The frequency and growing severity of incidents remain key contributors
to construction and operation cost overruns as well as insurance claims.”
The report pointed out that "The majority of these claims are caused
by contractor error. New market entrants often lack the specific expertise
to conduct a cable laying process free of incidents, with the cable often
handled improperly, e.g. tension levels not observed or heeded."
For further information or to obtain
a copy of the report contact firstname.lastname@example.org
for more information or link to http://www.4coffshore.com/windfarms/request.aspx?id=owris