Insurance for Emerging Offshore Innovations
A Practical Guide to insuring demonstration projects of offshore innovation projects at sea.
Offshore For Sure (O4S) | 08/03/2025
The transition to a sustainable and resilient energy system requires more than just wind and solar power. To ensure a stable energy supply, there is growing interest in emerging offshore renewable technologies such as wave energy converters, tidal turbines, offshore solar, and offshore energy storage systems.
However, deploying first-of-a-kind pilot projects in dynamic marine environments comes with significant risks—from extreme storms and powerful tidal currents to equipment failures and complex logistics. Without adequate insurance coverage, technology developers, investors, and asset owners face substantial financial exposure that could threaten long-term project success.To support the sector, the Offshore For Sure partnership has developed a new Insurance Fact Sheet, offering practical guidance on selecting the right insurance strategies for offshore renewable energy demonstration projects. This resource draws on insights from insurance providers, wind farm operators, and SMEs to address the unique challenges of insuring innovative marine energy technologies.
We extend our gratitude to our partners, especially Parkwind, Ecopower, Oceans of Energy, Water2Energy, Dutch Wave Power, FLASC, Tocardo, and Bluespring, for sharing their experiences and recommendations.
Download the fact sheet now to ensure your pilot project is well-protected and set up for success.
