Power Construction Insurance

The power construction insurance industry can be a complex one, incorporating a balance of large risks from civil engineering, to complex erection risks combined with technology risks. Often, different insurers are specialists in only one of these areas. Having a broker who can navigate you through these markets will help you achieve the best programme for your project.

Our collaborative approach enables us to share knowledge, solve problems and deliver the best solutions for our clients. Built through a consistent focus upon quality and personal approach to building successful client partnerships, we have a proven ability and track record in providing winning solutions.

We are one of the leading insurance / reinsurance advisors and brokers for power generation risks. Our team has been appointed on some of the largest power construction projects worldwide with over 50 GW of new generating capacity placed since 2011.

This breadth of experience includes the provision of broking services and on-going advice in relation to independent power projects (IPPs), nuclear energy, renewables and other water and power projects.

WHAT WE DO

We are specialists in power. Driven by a desire to exceed your expectations we employ our expert industry knowledge in order to deliver the best solutions for you in the market. This means we understand:

Environmental issues
The pressure on power generators to produce clean power; how this affects contracts, tax credits, technology and supply issues. We have insurance products which enable transfer of these risks.

Financial issues
Deregulation and privatisation has led the power industry to develop financial models unique to each business.

Regulatory considerations
Power generators regularly operate within the constraints of governmental or regulatory change. We understand how such change can affect your business and are adept at ensuring the coverage we place for you is sufficiently flexible to match your needs. Issues include failure to supply, pass through tariff or storm funds – we help transfer these risks.

Technological aspects
Possibly one of the most challenging areas as power generators grapple with new technology. We work hand in hand with our clients, as technology develops, in order to keep them abreast of the largest emerging technical advances. We ensure the coverage we obtain allows you to transfer risk in a cost efficient way.

Geographical challenges
We work with many global power companies and know that their local insurance needs can vary extensively from country to country. Consequently, our specialists understand local insurance requirements, both regulatory and customary and work to ensure that our clients' local power programmes are not only compliant but also complimentary with their global programmes. We ensure clients’ local power programmes are compliant and compliment their global programmes.

WHY JLT

  • Through our extensive experience of power generation technology in all regions of the world, we understand each aspect of the global power industry and how this translates to risk
  • This understanding enables us to deliver the most efficient and cost effective risk transfer programmes to match your unique needs and requirements
  • Our client’s generation profile is immaterial. Be it nuclear, renewable energy, offshore or onshore, construction or operational; we have a single team of experts who actively collaborate in order to deliver the best service and markets that your business requires
  • We continue to develop our power industry international network to ensure that we have the right representation in the right locations
  • By matching and exceeding our clients' expectations we employ our extensive industry knowledge in order to deliver the best solutions for our global power industry clients.

KEY PRODUCTS

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