Power Construction Insurance

The power construction insurance industry continues to grow increasingly complex, with the ongoing challenge of balancing large risks from civil engineering, complex erection risks, and technology risks. Different insurers are often specialists in only one of these areas. Having a broker who can navigate your business through these markets will help you achieve the best program for your project.

JLT's collaborative approach enables us to share knowledge, solve problems, and deliver industry-leading solutions for our clients. We have a proven ability and track record in providing winning solutions, through our consistent focus on quality and personal approach in building successful client partnerships.

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 50 GW of new generating capacity placed since 2011.

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

KEY RISKS

WHAT WE DO

We are specialists in powerOur deep industry knowledge and years of experience enables us to develop the best solutions in the market, to match and exceed our clients expectations. We understand:

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

Financial issues
Deregulation and privatization 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 is flexible to match your needs. Issues include failure to supply, pass through tariff, or storm funds – we help transfer these risks.

Technological aspects
One of the most challenging areas for power generators to manage is new technology. We work hand-in-hand with our clients as technology develops to keep them abreast of the largest emerging technical advances. We ensure the coverage we obtain allows businesses to transfer risk in a cost efficient way.

Geographical challenges
We work with many global power companies. Their local insurance needs vary extensively country by country. We understand local insurance requirements, both regulatory and customary. We ensure clients’ local power programs are compliant and compliment their global programs.

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 programs to match your unique needs and requirements
  • We understand local insurance requirements, both regulatory and customary. We ensure your local programs are compliant and compliment your global programs
  • To us, 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 collaborate to access the best markets and deliver the service your business requires
  • We continue to develop our power industry international network to ensure that we have the right representation in the right locations
  • Our deep knowledge and experience in dealing with the risks involved enables us to deliver the best solutions for our clients in the power industry globally, to match and exceed their expectations.

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