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RESEARCH AND BRIEFINGS

Marsh’s Power Market Update

 


Rates for power risks continued to soften globally for the first two quarters of 2017, and a sixth year of four straight quarters of rate reductions seemed likely – until the natural catastrophes of the third quarter. Now, moving into the second half of 2018 and after the effects of the storms have settled, rates have equalised and there are no indications that insurers are set to reduce capacity for power risks this year.

Marsh’s latest Power Market Update analyses current global insurance market conditions for power generation risks. It provides insight into changes and developments within the insurance marketplace as well as in-depth commentary into domestic market conditions and trends for the industry across 10 regions – Africa, Asia, Australia, Canada, Continental Europe, Latin America, Middle East and North Africa, New Zealand, United Kingdom, and the United States.

Key highlights from the report include:

  • Capacity remains abundant with an estimated US$4.25 billion of global capacity available.
  • Despite the insurance marketplace’s initial reaction to the 2017 Atlantic hurricane season, significant rate increases have been avoided in the first half of 2018.
  • Regions and insurance companies alike are seeking ways to reduce their carbon footprint, with many attempting to balance existing coal, and coal fired generation portfolios with renewable energy investments.

Read the full market update now

Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226 827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions.

This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from Marsh on request.