- Published: 06 September 2018 06 September 2018
GCube has launched a new Cyber Risk policy, designed to tackle the specific threats posed to clean energy asset owners by a recent rise in cyber attacks on global power generation and transmission infrastructure. GCube’s Cyber Risk product is designed to cover the specific cyber exposures of renewable energy asset owners, faced with this growing threat.
This new product covers owners and operators in any circumstance where the ability to generate power, and the associated revenue, is impacted by a cyber attack on proprietary or third-party IT or OT (Operational Technology) systems. In practice, this means it provides cover for loss of revenue, and incidental expenses, incurred in a range of circumstances, including non-damage events, digital asset destruction, including loss of use or theft of import SCADA data, reputational harm and cyber extortion. Cover can also be extended to include a cyberattack on assets not actually owned by the insured, such as damage to a third-party substation or transmission infrastructure that prevents the export of power.
Related Articles
-
Dutch portfolio-wind insurer Delta Lloyd grows to 6,000MW
The insurance activities of Delta Lloyd in Europe in the field of offshore wind energy have grown over the past two years from 1000MW to 6000MW. Two years ago, the Dutch insurer built a special Wind E ...Windtech International - Windtech International is the worldwide information magazine for the wind energy industry. It provides the ideal forum for the promotion and explanation of new products, techniques and applications. This trusted and well-respected source of information is read regularly by an increasing readership -
Mainstream Renewable Power launches new business venture to access further investment
Mainstream Renewable Power has announced it is launching a new business venture called Mainstream Capital in a bid to gain access to capital at better rates. The new platform is targeted specificall ...Windtech International - Windtech International is the worldwide information magazine for the wind energy industry. It provides the ideal forum for the promotion and explanation of new products, techniques and applications. This trusted and well-respected source of information is read regularly by an increasing readership -
Munich Re insures serial loss risk on offshore wind turbines
Munich Re has become the first insurance group to offer serial loss cover for offshore wind energy units. Corresponding cover for a North Sea wind farm has been signed by REpower, Munich Re and Nordwe ...Windtech International - Windtech International is the worldwide information magazine for the wind energy industry. It provides the ideal forum for the promotion and explanation of new products, techniques and applications. This trusted and well-respected source of information is read regularly by an increasing readership -
Delta Lloyd sets up wind energy team
Delta Lloyd sets up a dedicated wind energy team. The team will focus exclusively on this sustainable growth market. Delta Lloyd is one of the first European insurers to provide cover for offshore w ...Windtech International - Windtech International is the worldwide information magazine for the wind energy industry. It provides the ideal forum for the promotion and explanation of new products, techniques and applications. This trusted and well-respected source of information is read regularly by an increasing readership -
Navigators launches offshore wind turbine insurance
The Navigators Group, Inc has announced the expansion of its range of insurance products for the energy industry to include offshore wind turbine products. Navigators has developed a product for th ...Windtech International - Windtech International is the worldwide information magazine for the wind energy industry. It provides the ideal forum for the promotion and explanation of new products, techniques and applications. This trusted and well-respected source of information is read regularly by an increasing readership -
100% gearbox reliability for DeWind Turbines
November saw the anniversary of their fifth year with no gearbox failures.