Bruce Stevenson Risk Management

Wave & Tidal Insurance Services


It is estimated the UK has around 35% of Europe’s total wave resource and 50% of its tidal resource. Wave energy is harvested when the motion of the waves causes mechanical movement in a wave device which converts this motion into electricity. A variety of wave devices have been demonstrated, both floating and fixed to the seabed, with capacities of hundreds of kilowatts but these are set to expand to the megawatt scales as the sector develops. Tidal energy relies on flows of water to rotate turbines in a similar manner to a wind turbine, or to cause an aerofoil wing to oscillate, driving a hydraulic system. Like the wave sector, tidal technology is in its infancy with various differing technologies having already been demonstrated. Bruce Stevenson in conjunction with Lloyds of London Brokers, Windsor Partners have an exclusive offering ensuring all risks associated with renewable energy marine projects are identified and protected.

Insurance Cover for Wave and Tidal Projects:

  • Transit including Delay in Start Up
  • Erection All Risks including Advanced Loss of Revenue
  • Construction Liability

Operational Phase:

  • Operational All Risks including Business Interuption
  • Operational Liability

Further Considerations:

  • Professional Indemnity
  • Contract Bonds
  • Directors and Officers

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