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Energy & Power

Companies in the energy, power, and renewable energy sectors can better manage volatility and achieve operational and financial success through our expert risk management advice and solutions.

Energy and power companies face significant challenges and wide-ranging risks as the industry continues to transform at a rapid pace.

Across the world, energy demand is growing. At the same time, governments, organizations, and communities are committing to reduce carbon emissions and accelerate the transition to clean energy sources.

Infrastructure damage, weather and natural catastrophes, human error, or cyber threats can all cause power blackouts or severe disruption to energy production. Furthermore, policy or regulatory changes, as well as social pressures, can cause uncertainty for operators and investors.

Marsh’s global team of more than 700 specialists can reduce your total cost of risk and help create operational and financial stability for your business. We can advise you on risk exposures and insurance solutions to ensure you successfully achieve your objectives and remain resilient.

The Global Risks Report

The top risks for 2024 and beyond. Data and insights from more than 1,400 global experts and leaders.

Featured insights

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Article

02/20/2024

100 largest losses in the hydrocarbon industry report download

Marsh is pleased to present the 27th edition of the 100 largest losses in the hydrocarbon industry (100LL). This edition of our biennial publication summarizes the 100 largest property damage losses from the hydrocarbon extraction, transport, and processing industry between 1974 and 2021.

Industry pipeline transport petrochemical, gas and oil processing, furnace factory line, rack of heat chemical manufacturing, equipment steel pipes plant

Report

02/07/2024

100 largest losses in the hydrocarbon industry

Marsh is pleased to present the 28th edition of the 100 Largest Losses in the Hydrocarbon Industry report. This edition of our biennial publication summarizes the largest property damage losses from the hydrocarbon extraction, transport, and processing industry between 1974 and 2023.

Oil​ refinery​ and​ plant and tower of Petrochemistry industry in oil​ and​ gas​ ​industry with​ cloud​ blue​ ​sky the morning​

Article

02/06/2024

Reflecting on the last two years

The past two editions of this report have highlighted the dynamic factors that can affect the operating conditions and risk landscape for the industry.

Clean Hydrogen - Supporting the energy transition

Clean Hydrogen is set to play an important role in helping industries and countries reduce their carbon emissions.

FAQs

Generally, energy and power companies will need insurance coverage for their: onshore/offshore property, assets, and infrastructure; protection against business interruption and income loss; new construction investments; and third party liability and workers’ compensation losses. As most energy assets are in an open environment and exposed to natural elements, coverage for severe weather events or natural catastrophes is crucial. And, given the scale of digitization across the whole energy value chain, companies also need to consider protection for increasing cyber-related risks. Furthermore, depending on where operations are located, there may be a need to cover political and credit uncertainty.

Every company, operating facility, and investment is unique – the best way to understand, quantify, and manage risk is to partner with an experienced risk advisor. 

Insurance and risk management in the energy and power industry is a complex topic and requires specialist knowledge. Oil and gas companies, power generators, distributors, retailers, and renewable energy investors and operators all have unique risk exposures and different insurance needs. It's important to partner with risk management advisors who understand your business model and can provide insights and access to the most relevant industry trends and best practices in insurance and risk management.

Marsh’s global team of energy and power advisors, risk engineers, and brokers can facilitate discussions with insurance markets worldwide and design solutions that support your organization’s short and long-term goals. 

As the world moves toward a greener future, investments in renewable energy are on the rise. However, the transition to clean energy sources also brings disruption to the whole energy value chain. The risk landscape is rapidly changing for renewable energy investors, operators, and technology manufacturers.

Some of the key risks facing renewable energy stakeholders include:

  • Understanding local government policies and regulatory requirements to construct and operate renewable energy assets.
  • Unlocking access to capital and designing cost-effective insurance programs for all stakeholders to make projects bankable.
  • Securing appropriate insurance coverage during construction and operational phases.
  • Protecting renewable energy assets and infrastructure from severe weather events and natural catastrophes.
  • Understanding emerging technologies and how to integrate them into existing networks.
  • Protecting against income loss in the event of business interruption.

Marsh’s global team of renewable energy specialists and risk engineers can keep you informed about renewable energy developments and help you manage your risks and opportunities.

Our people

Andrew George headshot photo square

Andrew George

Global Head, Energy & Power, Marsh Specialty

  • United Kingdom

Michael Kolodner

Michael Kolodner

Global Renewable Energy Leader