Wave & Tidal
It is estimated the UK has around 35% of Europe’s total wave resource and 50% of its tidal resource.
Wave energy is harvested when the motion of the waves drives mechanical movement in a device which converts this motion into electricity. A variety of wave devices have been demonstrated, both floating and fixed to the seabed, with capacities of hundreds of kilowatts but these are set to expand to the megawatt scales as the sector develops.
Tidal energy relies on flows of water to rotate turbines in a similar manner to a wind turbine, or to cause an aerofoil wing to oscillate, driving a hydraulic system. Like the wave sector, tidal technology is in its infancy with various differing technologies having already been demonstrated.
Bruce Stevenson in conjunction with Lloyds of London Brokers, have an exclusive offering ensuring all risks associated with renewable energy marine projects are identified and protected.
Insurance Cover for Wave & Tidal:
- Transit including Delay in Start Up
- Erection All Risks including Advanced Loss of Revenue
- Construction Liability
- Operational All Risks including Business Interruption
- Operational Liability
- Professional Indemnity
- Contract Bonds
- Directors and Officers