The Impact of Large Losses in the Global Power Industry
Understanding recent large losses can help power organisations better identify and manage their risks, potentially preventing or mitigating future accidents and incidents.
The global power industry is currently experiencing a period of change, one marked by a significant increase in large losses. Since 2005, not a year has passed without the industry seeing at least one – often more than one – large claim, which is defined as greater than US$25 million. Insurance carriers have responded with a general firming of rates and a tightening of underwriting standards and engineering requirements.
With these challenges in mind, Marsh and Bowring Marsh produced The Impact of Large Losses in the Global Power Industry, the latest report in the Marsh Risk Management Research (MRMR) series of premium thought-leadership offerings.
By providing an overview of the power sector’s large losses over the past decade, the report can help you better identify and manage risks – potentially preventing or mitigating future accidents and incidents.
The Impact of Large Losses in the Global Power Industry report:
- Examines the full cost of large losses from 2001-2011.
- Draws from Bowring Marsh’s claims database, which is large enough to constitute a representative sample of the entire power sector.
- Provides an overview of losses by type of equipment, fuel, date, and net cost to insurers – in easy-to-read pie charts, tables, and bar graphs.
- Explores additional large-loss issues that can be vital to your balance sheet, such as brand and reputational damage and deterioration of investor confidence.
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