Specialist insurance services for the global power and utilities sector
Power and utilities companies form the backbone of tomorrow’s resource-hungry world. Blackouts or service interruptions are increasingly critical scenarios. Managing these risks is critical, both for the operators and for society, requiring expert insurance solutions to be tailor-made for the power and utilities sector.
Demand is growing worldwide, especially in the emerging economies. In developed countries, operators need to maintain existing infrastructure and are under pressure to deliver ever cleaner, greener, cheaper and more efficient supplies. At the same time, regulations are tightening and competition is freeing up almost everywhere.
All power generators and utility providers face these insurance challenges. From energy generation via coal-fired power plants, combined cycles, nuclear plants or renewable energy projects, to water or gas suppliers, each has specific risks linked to their individual technologies and infrastructures.
Allianz Global Corporate & Specialty is one of the world’s leading insurance partners for power and utility companies. Seasoned experts and a decades-long track record mean that we can provide clients with complete solutions, from risk consulting at the project stage to flexible underwriting throughout the operation of any power or other utility plant.
Our engineers draw on extensive experience. Before starting their careers with us, many have worked in research and design, on power stations during erection and construction and for well known suppliers – so not only do we speak the industry’s language, but we understand the risks first hand.
Our experts are also leading the way in assessing new challenges and risks in power and utilities, especially within the ever-expanding renewable energies sector. In addition to providing comprehensive solutions for global renewable energy projects, Allianz Global Corporate & Specialty helps protect against potential energy generation loss due to the unpredictability of weather through Alternative Risk Transfer.
Power and utility sector insurance: from A-Z
From planning to construction to operation, our products and services include:
- Erection All Risk and Construction All Risk (EAR/CAR) cover
- Loss of Profit cover during construction phase
- Cargo cover including project cargo
- Machinery breakdown and business interruption cover
- Risk consulting and service through the entire life cycle of a facility
- Regular plant visits and reports
- Years of compiled data to better monitor trends and advise clients
- Experts with decades of experience in the power and utilities field, both as insurers and in the business itself.
- Property 'All Risks' coverage for real estate assets
- Liability coverage including environmental liability
- Directors & officers liability
- International insurance programs
- Business continuity support
- Crisis management support