Power Construction Insurance

The power construction insurance industry can be a complex one, with 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. 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 has included 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 power, our deep industry knowledge enabling- us to develop the best solutions for you in the market, to match and exceed your expectations. 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 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. Their local insurance needs vary extensively country by country. We understand local insurance requirements, both regulatory and customary. We ensure clients’ local power programmes are compliant and compliment their global programmes.

WHY JLT

  • Through our extensive experience of all 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
  • We understand local insurance requirements, both regulatory and customary. We will ensure your local programmes are compliant and compliment your global programmes
  • 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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