Allianz Global

Allianz Global was listed as a successful economic operator in the award notice for Construction All Risks (CAR) insurance for the Eneco Luchterduinen offshore wind farm project (also referred to as Q10). The buyer was Clusius C.V., validly represented by Q10 Offshore Wind B.V. The insured development was described as a wind farm located approximately 23 kilometres offshore from the municipalities of Noordwijk and Zandvoort in the Netherlands. The CAR insurance requirement covered the construction period and the applicable maintenance period associated with developing the wind farm. CAR insurance is typically procured to protect against project-related risks during build-out, including physical loss or damage to the works under construction and associated construction operations, thereby supporting the project’s overall risk management and financing requirements. Allianz Global was one of several insurers/participants named in the same award, implying a multi-party placement where coverage is shared across multiple market operators rather than provided by a single carrier. The award notice did not disclose the allocation of coverage, policy limits, premium, or other commercial terms. The award decision date was stated as 16 August 2013. No monetary contract value was reported in the notice.