“REMEMBER, remember, the 5th of November…” as they say in the UK.

Well, we certainly do! That was the day that NIORD once again hit the capital for another highly successful London Wind Academy!

Below, you’ll find a photo gallery featuring some highlights from the event, which was held at Lloyd’s in the heart of the City, as well as links to presenters’ slides.

At this year’s academy, Clauses and Conditions were firmly in focus, given the official release by Cefor of the NOWIC - Nordic Offshore Wind Insurance Conditions - just two days prior.

With many of the NIORD team taking to the stage to present, together with guest contributors and a panel discussion on the important OWF insurance clauses and conditions seen from the insurers’ perspective, NIORD and its guests made sure that London was THE place to be for all things offshore wind insurance!

Paul Lowrie at Clyde & Co. and Franco D’Andrea at DWF discussed clarity in insurance policy wordings. They provided their views on friction points identified by NIORD and complemented them by comments on how they perceive clarity of the insurance conditions currently used in offshore wind.

Whilst recognising the positive progress the industry has made in this respect, Paul and Franco ended by appreciating contributions to the standardisation of conditions as means of avoiding situations where policy language raises more questions than it answers.

Vincent Malandain from Ocean Winds and Sigurd Willoughby, Insurance Manager REN, Equinor, both happily shared their thoughts with insurance manager Simon Markussen for the imaginary ClubFloat and ClubFixed farms. Simon was told: "Insureds must approach their exposures as prudent uninsureds - recognising that transparency and early engagement are critical to effective risk sharing and underwriting success."  

Adam Reed (Allianz), GuangQuan Xu (Scor), Sabine C. Mazay (Gard), together with our own CUO Bin Wang, discussed the challenging topics of Marine Warranty Survey Clauses, Series Loss Clauses, complexities in coverages relating to war/terror/sabotage, and the troublesome interaction between Co-Assureds rights, Warranties/Defects Notification Periods, and the functional differences between applying the LEG Clauses on Parties vs. Insured Assets.  

A special shout-out also to Thomas Sans of Aon for great moderation duties!

On behalf of all speakers, NIORD have made a donation on behalf of each of you to the Red Cross. Whether in Gaza, Sudan, Myanmar, or Ukraine, it feels like the Red Cross has never been needed more.

Many thanks to everyone who attended! 

Questions? Feel free to reach out to us at event@niord.com. 

Presentation slides

1-2 Introduction to General Clauses and Conditions used in Offshore Wind - Erik Meneilly, NIORD

1-3 NOWIC Introduction - Ellinor Morrison, NIORD

1-4 ClubFloat and ClubFixed - Paulius Kavaliauskas, Simon Markussen, NIORD

1-5 Scope of Cover - Sunniva Hellesund, Menaka Skjold, NIORD

1-6 Defects and Serial Losses - Mats Johan Waage, Lukas Manger Carbol, NIORD

1-7 The Claims Experience - Ambiguity or Clarity - Paul Lowrie Partner at Clyde & Co, Franco D’Andrea Partner, Global Risks Team, DWF

1-8 Insurance Focus from Developers / Operators - Vincent Malandain Insurance Manager, Ocean Winds and ENGIE, Sigurd Willoughby Insurance Manager REN, Equinor

1-9 Panel Discussion Slides