In its new report, ‘A turning point for offshore wind’, Allianz Commercial highlights growth opportunities, tech innovations, risk trends, and loss patterns for the global industry. / Damage to cables is the top cause of insurance claims, followed by turbine failure. / Speed of build-out is creating pressure on materials and supply chains, port infrastructure, and available construction and maintenance vessels. / Bigger turbines and new technology drive bigger exposures for insurers which need to be understood in partnership with developers. / Weather and natural catastrophe risks are increasing as sector expands into new territories.
