Following upon the opening of the Tokyo office in September 2019 and the trustful relationships with Japanese Offshore Wind stakeholders we have successfully established, we have decided to open a Japanese company to be closer to our Japanese Clients and Lenders.

The principle advantage for Japanese partners is the possibility to work and receive risk and insurance advisory services within a fully Japanese context provided under the laws of Japan and being subjected to Japanese jurisdiction.

As part of our risk and insurance advisory services, we specialize in Japanese Insurance Act and its application and interpretation in the context of Offshore Wind insurance policies and claims management process. In this respect we continuously update our knowledge with Japanese counterparts and follow closely the Japanese Offshore Wind legislative framework development. Our risk and insurance advisory services are complementary to those provided traditionally by insurance brokers.

We also strive to provide new solutions for insurability of Japan specific Offshore Wind risks, including the risks of typhoon, tsunami, earthquake and lightning strike and monitor the development of governmental regulations imposed upon wind farms affected by these events. In particular, we raise the Clients´ awareness of losses which are not insurable or difficult and costly to insure, such as e.g. the risk of soil liquefaction or provide alternative solutions against losses which are insurable but generally subject to a longer waiting period during which Clients do not receive indemnification. These include e.g. the requirement of shutting down the wind turbine hit by a lightning strike which consequently cannot generate electricity, and where indemnification is subject to a deductible of generally not less than 2 months and which is eventually not indemnified by insurance in the absence of a physical loss affecting the turbine.

Being fully immersed in the Japanese Offshore Wind legislative framework enables us to provide Clients with Japan compliant and yet innovative risk prevention, minimization and insurance concept proposals.

Our entire Japanese specific Offshore Wind knowledge is equally provided for the benefit of Lenders when we act as Lenders Insurance Advisors for Japanese offshore wind farms under development or during re-financing process. Our country and geographical region specific knowledge secures the interest of Japanese Lenders and Investors by our insurance and insurability focused scrutiny of Japan specific (additional) risk, technical, environmental and contractual exposure and its control and minimization by insurance coverage underwritten on an adequate Japan specific insurance policy wording and additional necessary safeguarding mechanisms.

In Japan, we collaborate with MST Risk Consulting, a highly reputable Japanese insurance broker with excellent knowledge and portfolio of renewable energy projects, wishing to deepen their knowledge and expertise in offshore wind to be able to support their also in this new fast growing area. We are very proud of our collaboration and consider the open exchange with our Japanese counterparts as highly beneficial, supporting the Japanese industry by addressing the right “offshore wind insurance” questions and giving us personally the opportunity to get immersed in the Japanese insurance world, its customs and specifics.

The areas of support that we are providing to Japanese Clients, include the following:

• Offshore Wind (including Floating) risk allocation and risk matrix insurability workshops
• Risk and insurance contractual passages drafting
• MWS scope of work and MWS insurance clause negotiation
• Underwriting submission (information to be presented to insurers)
• Negotiations with Japanese and international insurers, including presentation of new technologies
• Claims handling
• Offshore Wind workshops

We are happy to answer any questions you might have and trust to have the necessary local presence and offshore wind expertise to support your Offshore Wind Project.