insurance brokerage services for offshore wind farms

Market Analysis & Advisory • Analysis of capacities, conditions, and trends in the relevant lines of insurance • Regular updates on market and product developments

Review of and advising on Clients’ (potential) contracts with contractors • Review and advising on liability, indemnity and insurance clauses • Performing risk analysis - contractual and insurance related • Performing gap analysis of insurance cover and contractual liabilities/ indemnities • Preparation, review and optimization of insurance schedules • Participation in negotiations with bidders/ contractors related to insurance

Risk Management and Placement • Ongoing systematic identification, recording, measurement, analysis, and assessment of existing and new risks of the Client • Benchmarking based on industry standards • Continuous review for overinsurance, underinsurance, or duplicate insurance • Ensuring optimal, comprehensive, up-to-date, and internationally consistent insurance coverage for all operational risks, provided it is economically reasonable and insurable • Ongoing analysis of the Client’s existing insurance coverage and insurance needs, as well as proactive advice on updating and realigning the insurance concept, including the review of alternative coverage concepts and further optimization potential. This takes into account changing risk and market conditions, claims experience, contractual liability agreements, appropriate deductibles, and innovative contract models. • Planning and execution of national and international tenders for insurance coverage, including preparation of all necessary tender documents, provision of risk information, and drafting of wordings for insurers. This includes both EU-wide and non-EU-wide tenders for insurance contracts • Joint determination of preferred insurance markets • Recommendation on the selection of insurers • Evaluation of offers and preparation of a decision template • Placement of the coverage concept agreed with the Client • Documentation of all consulting and tendering steps • Conducting annual strategy workshops and insurance-related training sessions • In the relevant lines of insurance, the broker assumes the following tasks: o Conducting risk dialogues with insurers o Reporting and recording of sums insured for all policies, including consistency checks between master and local covers o Organization and execution of risk inspections, including follow-up on recommendations, review of reports, and documentation o Advice on insurance requirements for fire protection and security concepts as well as regulatory requirements o Risk analysis of critical locations o Coordination of cross-line interfaces

Insurance Contract Management

• Ongoing administration of insurance contracts (policies), including all payment transactions (such as premium allocation overviews, declarations, preparation of premium invoices, and premium collection) in coordination with the client • Issuance, review, and continuous optimization of insurance terms and conditions, as well as development of individual policy wordings where possible • Complete documentation and filing of all contracts • Preparation and maintenance of insurance overviews, cover notes, insurance confirmations/certificates, and an insurance manual • Coordination of international insurance programs and ensuring consistency between master and local policies • Professional advice on insurance coverage and insurance clauses in contracts, including answering insurance-related questions and providing project-specific comments; insurance-related project consulting

Claims management • Support and coordination of claims, including major and serial losses • Case-specific review of existing insurance coverage and coordination of necessary immediate measures • Organization and support of necessary loss inspections • Timely notification/reporting to the insurer • Insurance-related advice during negotiations with insurers, authorities, and the press • Assistance in determining and recording all loss-related and indemnifiable costs • Advice on the selection of suitable experts • Ongoing support during negotiations with insurers and experts, and representation of the client’s interests towards the insurer regarding indemnification • Requesting appropriate advance payments • Support for lawyers in preparing for legal and out-of-court disputes • Claims settlement, including handling of payment transactions • Preparation of claims reports and management reports (KPIs) • Systematic identification of loss drivers/causes and development of measures to reduce the loss ratio

Reporting and Compliance • Provision of a broker portal or comparable digital tools for managing policies, coverage overviews, claims statistics, and analyses • Regular qualitative and quantitative reporting to the client, including jointly defined KPIs, savings/optimization potential, claims developments, and current market trends • Ensuring compliance with all legal requirements and guidelines • Preparation of board reports and support with other specific reports, where relevant

Multi-broker coordination: The broker is responsible for coordinating with other EnBW brokers to resolve coverage queries, recognizing that offshore risks may fall under both project-specific and corporate group policies. Effective communication between brokers is essential to determine the applicable coverage in each case.Activities or projects not included in the standard remuneration and to be remunerated separately must be listed separately in the offer. These will not be subject to the offer evaluation.