AIMU Offshore Wind Farm Forum

  • Presented:  Nov.  9, 2022
  • Duration:  3 hours

DETAILS:

The global Wind Power Market is expected to witness unparalleled growth in the next five years. The AIMU Offshore Wind Forum will highlight recent developments and discuss their implications and effects on our industry. The class will focus on insurance rather than technology and examine the topic in a digestible format.
PRESENTERS:

Michael Galea, Senior Underwriter, GCube Insurance Services
Maureen Kallgren, Marine Transportation Specialist, U.S. Coast Guard
Jan Pagan, Renewables Manager, Matthews Daniel

Mr. Galea discussed offshore wind from a property underwriting perspective, with a specific focus on the performance of the offshore wind insurance market to date along with the differences between underwriting offshore renewables and traditional upstream accounts. If time allows there will follow a short overview of emerging technology in this space and some claims examples.

Ms. Kallgren presented the status of offshore wind vessels as of today and the USCG role as a cooperating agency to the Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement (BSEE) for offshore renewable energy. She will attempt to outline the way we see the industry moving ahead and an overview of current determination and rulings from the lead agencies on possible citizenship and Jones Act implications.

Mr. Pagan focuced on an introductory view of the offshore wind industry and will look at the current wind turbine technology, sector growth projections and the construction phases of an offshore wind project. The second part of his presentation will look at some of the constraints affecting the sector and we will also go over some of the different losses seen in the industry.

 

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