Monday, June 18, 2012

More woes for people leasing land for turbines. Now, your insurer will quit on you, too.

A letter from an insurance  broker, noting the inability to insure a property due to a wind turbine, has been circulating.
  ... in regard to your inquiry about the installation of wind turbines on your property ...the Company has advised that should a wind turbine be erected on the property, the Western General would not insure same and they would no longer remain on risk at that property...
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32 comments:

  1. I understand there are 3 major insurers in rural Ontario,  Western General is one of them.  I also understand that a second major insurer, in part spurred on by Western General's action, is currently studying the wind turbine situation with an eye to taking some action to protect themselves.  I don't know anything about what the third insurer is doing. 

    I wonder if the participants are surprised - they shouldn't be.  Insurance companies, along with banks, are ruthless when it comes to protecting themselves.  I also wonder when the mortgage companies will react - I've already heard of some refusals in project areas.

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  2. This may be a decision of one company, but there is a very competetive insurance market for insuring wind turbines on private property. Renewable energy projects do not make a property uninsurable.

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