Today’s power and energy companies face significant and wide-ranging risks. A rig accident or oil spill can have environmental and reputational impacts. Power blackouts due to aging infrastructure, weather, and human error can cause severe interruption to supply. Increasing political and social unrest may present additional challenges. Local regulation poses challenges for production and distribution.
Marsh's Energy and Power Practice can help you to navigate these challenges. We advise you on risk and insurance issues impacting operational and financial success throughout the entire energy and power value chain. By reducing your total cost of risk, managing volatility, and providing advice and solutions that enable you to invest confidently for the future, we help you to succeed.
Marsh’s energy specialists are at the forefront of advising energy companies worldwide on the wide range of risks they face. Whether your focus is exploration, construction, production, or refining and marketing – single-location operations, new projects, or a diverse portfolio of integrated assets – our energy experts offer bespoke risk management solutions.
Marsh’s power specialists help to identify events, issues, trends, and regulations impacting the industry. We can help to plan both traditional and alternative energy strategies. Our expertise is supported by industry-leading analytics, which can help project costs, losses, and pricing by coverage layer, and help determine whether risks should transferred or retained.
Whether your focus is generation, transmission and distribution, retail – or a combination of these – our power experts offer bespoke risk management solutions.
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:
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.