The importance of interconnectors and the unique challenges they pose for insurers 2025

In this IIL marine and energy webinar, Andrew Norris talks about the importance of interconnectors in renewable energy and the challenges they pose for insurers. The London market can offer capacity and expertise in the traditional power sector. However, the risks associated with interconnectors pose a range of complex and interesting problems for insurers and a better understanding of this will be of interest to members participating in these risks.
The industrialisation of countries around the world was driven by the availability and utilisation of hydrocarbon resources. Renewables like hydro and geothermal power were part of the mix but in most instances, the transmission and distribution of electricity was built with fossil fuels in mind. With the advent of offshore wind power generation, and set against the need for greater energy security, grid operators have been tasked to create new infrastructure. This has led to the installation of an extensive array of submarine power cables, especially in the UK. Whilst these pose a significant engineering challenge, they have also created a need for insurance, which in turn brings its own challenges!

Learning objectives

• To be aware of the key drivers for the increase in grid interconnectivity
• How this creates a need for new insurance capacity
• What makes this a challenging sector for insurers to work in

Speaker(s)

Chair: Jake Hannath, Director, MatthewsDaniel