--- title: "Floating Offshore Wind Insurance" ocid: "ocds-b5fd17-506e85bb-8dce-4445-baeb-410c68c03851" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-506e85bb-8dce-4445-baeb-410c68c03851" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-506e85bb-8dce-4445-baeb-410c68c03851.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-506e85bb-8dce-4445-baeb-410c68c03851.json" source: "Contracts Finder" current_stage: "Award" buyer: "OFFSHORE RENEWABLE ENERGY CATAPULT" published: "2024-05-14" --- # Floating Offshore Wind Insurance Buyer: OFFSHORE RENEWABLE ENERGY CATAPULT Current stage: Award OCID: ocds-b5fd17-506e85bb-8dce-4445-baeb-410c68c03851 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-506e85bb-8dce-4445-baeb-410c68c03851) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-506e85bb-8dce-4445-baeb-410c68c03851.json) ## Summary The Offshore Renewable Energy Catapult is seeking consultancy services for the "Floating Offshore Wind Insurance" project. This project aims to assess critical concerns for insurers in insuring FOW projects, with a focus on financial implications, claims frequency, and risk mitigation strategies. The procurement stage is in the "Award" phase with a contract period starting from May 2024 to March 2025. The total contract value is £38,125, with a tender period ending on April 5, 2024. This tender opportunity presents a chance for insurance consultancy businesses, particularly those experienced in the FOW sector, to engage with the development of commercial-scale FOW projects. With a focus on addressing gaps in insurance coverage and providing viable pathways for insurers, this project creates avenues for business growth in the renewable energy industry, especially for SMEs and VCSEs. The buying organisation, Offshore Renewable Energy Catapult, is committed to advancing the FOW sector with the support of key stakeholders and wider industry to ensure successful project outcomes. ## Notice This project intends to build on previous work completed, which explored project finance and insurance for FOW. This work focused on examining the current views and proposed approach of the insurance community to insuring FOW projects. Findings from the project highlighted areas of critical significance to insurers which this project can utilise in helping to determine the technology options and specific key risks to consider. The project will consider representative sites based on planned developments of both early small scale and future large-scale FOW. As seen in fixed-bottom, lessons learned and data shared from earlier small-scale FOW projects will help to influence insurers' approach to later large scale projects. Building on this previous work, this project aims to quantify the financial implications of these key risks. Specifically, to outline the potential frequency of claims, the impact/size of claims and the activities in terms of cost and resources which will be required to resolve them. This project has the opportunity to provide valuable findings to key stakeholders and wider industry to support the development of FOW. By assessing the areas of critical concern for insurers and identifying ways to mitigate and fill these existing gaps in coverage, the project will outline viable pathways to insurability for commercial scale FOW projects. ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/1858c9cc-2d31-42e3-8c4a-b1234905858d | | Notice type | Award Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure | | Tender suitability | SME, VCSE | | Awardee scale | SME | | All stages | Tender, Award | ## Dates | Field | Value | | --- | --- | | Publication date | 14 May 2024 | | Submission deadline | 5 Apr 2024 | | Future notice date | Not specified | | Award date | 9 May 2024 | | Contract period | 12 May 2024 - 12 May 2025 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | £40,000 | | Lots value | Not specified | | Awards value | £38,125 | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Complete | | Lots status | Not specified | | Awards status | Active | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | OFFSHORE RENEWABLE ENERGY CATAPULT | | Locality | GLASGOW | | Post town | Glasgow | | Postcode | G1 1RD | | Country | Scotland | | ITL 1 | TLM Scotland | | ITL 2 | TLM3 West Central Scotland | | ITL 3 | TLM32 Glasgow City | | Local authority | Glasgow City | | Electoral ward | Anderston/City/Yorkhill | | Westminster constituency | Glasgow East | | Delivery location | Not specified | ## Supplier | Field | Value | | --- | --- | | Number of suppliers | 1 | | Supplier names | RENEWABLE RISK ADVISERS | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66519310 - Insurance consultancy services ## Release History - 14 May 2024 at 14:45 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/1858c9cc-2d31-42e3-8c4a-b1234905858d - 13 Mar 2024 at 14:31 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/f4a2825c-f37d-40d2-b9f1-409fb1f830c4 ## Documents - https://www.contractsfinder.service.gov.uk/Notice/1858c9cc-2d31-42e3-8c4a-b1234905858d 14th May 2024 - Awarded contract notice on Contracts Finder - https://www.contractsfinder.service.gov.uk/Notice/f4a2825c-f37d-40d2-b9f1-409fb1f830c4 13th March 2024 - Opportunity notice on Contracts Finder ## Notice URLs - https://www.ore.catapult.org.uk ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-506e85bb-8dce-4445-baeb-410c68c03851. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-506e85bb-8dce-4445-baeb-410c68c03851.json.