Scenario: CRS was engaged by an international infrastructure fund to conduct evaluation of post-close insurance program and budget for spin-off from German owner and O&M, including active development projects and new operations.
Action: CRS identified deficiencies in the O&M program and pursued additional coverage for the parent fund to cover BI, Cyber, Political Risk, Business Travel and other gaps. Quickly advised that a monopile collapse would negatively impact the post-close cost of risk without active management and engagement. Immediately recommended project policies be extended due to delays to preserve capacity and rates, ultimately consolidated programs creating material savings and Loss/cost avoidance. Further, CRS introduced a new broker to assist in Tax evaluation on a bespoke program (ongoing).
Outcome: CRS and selected broker took over to manage and materially improve protection, leverage global and local market access and achieve (significantly needed) higher limit protection in Taiwan at EUR 100MM and a deductible of EUR 1M at a premium of EUR 8.0 MM for the two-year period (where no cover & significant exposure existed). Tax protections are still underway with company team to best protect the asset and parent fund moving forward.