Wind energy in general is evolving into a product that will soon be dominated by the Chinese—so American insurers will need to adapt and learn about these foreign manufacturers to effectively compete in this segment, says Camilo Posada, assistant vice president and senior underwriting specialist at Chubb Commercial Insurance in Chicago.
As recently as five years ago the biggest wind-power product manufacturers hailed from the United States, Germany, the Netherlands and Spain. Today, China leads with a 43 percent share of the world market for wind turbines, according to the World Wind Energy Association.
China added 18,928 MW of new capacity in 2010, the highest volume ever by one country in a single year. By comparison, the U.S. market saw only 5,115 MW of new capacity in 2010, about half of its 2009 installed capacity.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
