Our Japanese company in EEHH
Skowronnek & Bechnak • 24. Februar 2021
Skowronnek & Bechnak Japan Co. Ltd. in EEHH newsletter
To read the original article in German, please click on the following link:
https://www.erneuerbare-energien-hamburg.de/de/news/uebersicht/details/skowronnek-bechnak-gruenden-japanische-unternehmensgesellschaft-um-den-offshore-windmarkt-in-japan-besser-bedienen-zu-koennen.html
To read the original article in German, please click on the following link:
https://www.erneuerbare-energien-hamburg.de/de/news/uebersicht/details/skowronnek-bechnak-gruenden-japanische-unternehmensgesellschaft-um-den-offshore-windmarkt-in-japan-besser-bedienen-zu-koennen.html
Following upon the opening of our Tokyo office in September 2019 and the trustful relationships we have been able to establish with the Japanese Offshore Wind Stakeholders, we have decided to open a Japanese company to be closer to our Japanese Clients and Lenders. The advantage for our Clients is now being able to work with us in a context that complies with the laws of Japan and the Japanese jurisdiction.
But why we did we choose Japan in the first place? To be exact, because of Shinkansen, the Rainbow Bridge and Skytree. Because they represent for us the technological progress and human creativity. And that is how we perceive Japan: as a minimalistic design, precision and reliability.
Following upon Japan´s decision to develop Offshore Wind, our decision to accompany the country by its endeavors was inevitable. Our new company Skowronnek & Bechnak Japan 株式会社 specializes in risk and insurance advisory and provides, in cooperation with Clients, new solutions for Japanese Offshore Wind risks insurability, including the risk of typhoon, tsunami, earthquake and lightning strike. In particular we raise our Clients´ awareness of losses which are not insurable or only difficult and costly to insure, such as e.g. the risk of soil liquefaction after an earthquake or the risk of lightning strike damage which is particularly prominent in Japan.
The company establishment process last year was very challenging, due also to the prohibition of entry into Japan. The entire process was performed electronically, including submission of notarized signatures and documents. We have, however, succeeded, thanks to our Japanese partners who were always ready to assist and who made use of all possible options granted by the Japanese laws and administration to enable the completion of the process even without our personal presence.
But why we did we choose Japan in the first place? To be exact, because of Shinkansen, the Rainbow Bridge and Skytree. Because they represent for us the technological progress and human creativity. And that is how we perceive Japan: as a minimalistic design, precision and reliability.
Following upon Japan´s decision to develop Offshore Wind, our decision to accompany the country by its endeavors was inevitable. Our new company Skowronnek & Bechnak Japan 株式会社 specializes in risk and insurance advisory and provides, in cooperation with Clients, new solutions for Japanese Offshore Wind risks insurability, including the risk of typhoon, tsunami, earthquake and lightning strike. In particular we raise our Clients´ awareness of losses which are not insurable or only difficult and costly to insure, such as e.g. the risk of soil liquefaction after an earthquake or the risk of lightning strike damage which is particularly prominent in Japan.
The company establishment process last year was very challenging, due also to the prohibition of entry into Japan. The entire process was performed electronically, including submission of notarized signatures and documents. We have, however, succeeded, thanks to our Japanese partners who were always ready to assist and who made use of all possible options granted by the Japanese laws and administration to enable the completion of the process even without our personal presence.
And this is also part of modern Japan: in harmony with traditions, the country strives for flexibility and modernity and enables foreign companies which could make an additional positive contribution to the Japanese economy, the necessary access.
Barbora Bechnak is a speaker at the Floating Offshore Wind Turbines 2021. Join us in Saint Malo, France on 17 November 2021.
Skowronnek & Bechnak with DEHN detect Lightning Measurement Systems introduces the latest stage of detection systems and insurability...
We are proudly announcing the establishment of the Japanese company – Skowronnek & Bechnak Japan Co. Ltd. (株式会社) on 21 December 2020. Following upon the opening of the Tokyo office in September 2019 and the trustful relationships with Japanese Offshore Wind stakeholders we have successfully established, we have decided to open a Japanese company to be closer to our Japanese Clients and Lenders. The principle advantage for Japanese partners is the possibility to work and receive risk and insurance advisory services within a fully Japanese context provided under the laws of Japan and being subjected to Japanese jurisdiction. As part of our risk and insurance advisory services, we specialize in Japanese Insurance Act and its application and interpretation in the context of Offshore Wind insurance policies and claims management process. In this respect we continuously update our knowledge with Japanese counterparts and follow closely the Japanese Offshore Wind legislative framework development. Our risk and insurance advisory services are complementary to those provided traditionally by insurance brokers. We also strive to provide new solutions for insurability of Japan specific Offshore Wind risks, including the risks of typhoon, tsunami, earthquake and lightning strike and monitor the development of governmental regulations imposed upon wind farms affected by these events. In particular, we raise the Clients´ awareness of losses which are not insurable or difficult and costly to insure, such as e.g. the risk of soil liquefaction or provide alternative solutions against losses which are insurable but generally subject to a longer waiting period during which Clients do not receive indemnification. These include e.g. the requirement of shutting down the wind turbine hit by a lightning strike which consequently cannot generate electricity, and where indemnification is subject to a deductible of generally not less than 2 months and which is eventually not indemnified by insurance in the absence of a physical loss affecting the turbine. Being fully immersed in the Japanese Offshore Wind legislative framework enables us to provide Clients with Japan compliant and yet innovative risk prevention, minimization and insurance concept proposals. Our entire Japanese specific Offshore Wind knowledge is equally provided for the benefit of Lenders when we act as Lenders Insurance Advisors for Japanese offshore wind farms under development or during re-financing process. Our country and geographical region specific knowledge secures the interest of Japanese Lenders and Investors by our insurance and insurability focused scrutiny of Japan specific (additional) risk, technical, environmental and contractual exposure and its control and minimization by insurance coverage underwritten on an adequate Japan specific insurance policy wording and additional necessary safeguarding mechanisms. We sincerely thank you for the trust given us and wish that the establishment of the Japanese Co. Ltd. company confirms our long-term commitment to Japanese partners in Offshore Wind projects.
Insurance Broker Bessé signs exclusivity agreement with Skowronnek & Bechnak to consolidate its position in offshore renewable energy insurance in France.
Skowronnek & Bechnak are engaged in seeking combined technical and insurance solutions against the risk of a lightning strike and the resulting loss or damage, including financial impact on the offshore wind farms due to loss of production during the turbines downtime. The impact on the offshore wind farms can be very significant in particular in territories where lightning strikes are frequent, such as e.g. norther parts of Japan where the probability of a lightning strike is 300 times higher than in the European North Sea. Further queries can be addressed at info@sbadvisors.de.
Ralf Skowronnek has been appointed the Chairman of the Insurance Sub-Committee of the Floating Offshore Wind Committee, World Forum Offshore Wind, leading the initiative of international experts focusing on addressing the floating system parameters and formulating the industry standards conforming to insurers´ requirements in order to secure future insurability of the floating technology, in particular when it comes to large scale projects and their bankability.
Skowronnek & Bechnak are a sponsor and panelist at the Japan Energy 2020 engaged in the panel discussion on “How to Optimize Performance Versus Reliability to Encourage the Deployment of Floating Wind” and presenting their own arguments on “How to increase insurability of large scale floating projects and decrease the LCoE”.
Skowronnek & Bechnak are very proud to have signed a Memorandum of Understanding with MST Risk Consulting, a major Japanese insurance broker and risk consultant with significant experience with Renewable Energy and Infrastructure projects.