AXIS offshore wind claims research highlights loss drivers and stress factors for insurers

From an underwriting standpoint, the claims patterns help a number of tendencies already rising out there: tighter wordings and sublimits round cables and different high-severity elements, together with clearer remedy of defects, serial losses, and remedial works; larger use of warranties and situations precedent referring to set up procedures, burial depth, safety programs, and inspection regimes; extra granular ranking that distinguishes by turbine class, website situations, contractor expertise, and provide chain robustness; and elevated reliance on engineering referrals and unbiased technical evaluate, particularly for newer applied sciences akin to floating foundations and higher-voltage export programs.