Power Insurance and Risk Management

Power Insurance and Risk Management

Learn how your organization can benefit from power insurance and risk management. 

Global Power Practice Overview

Comprising more than 300 power and utility specialists worldwide, Aon’s global power practice is a leading provider of insurance and risk management solutions for clients ranging from the world’s largest multinational power companies to small local utilities. Our deep industry knowledge extends across insurance, fossil fuels, gas turbine technologies, gas transmission and distribution companies, and nuclear and renewable energy, including geothermal plants, on- and off-shore wind, tidal and solar. We couple this knowledge with our global network to provide clients with the tools they need to make better decisions about protecting their people and projects.

Our account teams support power clients through the energy transition to net zero and help find solutions for the emerging risks on this journey. We are constantly monitoring the changing requirements of the industry around the world, such as regulatory and environmental challenges. By working together as a global team, we can develop innovative new offerings to meet our clients’ needs.

At a high level, our risk capabilities for power clients include risk consulting, risk assessments and optimization, engineering, captive studies and management, insurance program design and placement, claims and recovery consulting, crisis management and cyber consulting. We also work closely with Aon colleagues specializing in risk mapping and strategic risk consulting to assess our client’s total risk profile, which allows us to create bespoke risk management and insurance solutions tailored to each client.

Comprehensive Insurance Coverage for Power Clients

We use placement volume, broking experience and Aon’s global network to provide global power clients with industry-leading terms and conditions across a wide range of insurance coverage areas, including:

  • Property damage
  • Machinery breakdown
  • Forced outage
  • Business interruption
  • National catastrophe (Natcat)
  • Deductible buydowns
  • Parametric
  • General Liability
  • Delay in start-up (DSU)
  • Advance loss of profit (ALOP)
  • Contractors all risks (CAR)
  • Erection all risks (EAR)
  • Pandemic
  • Political violence
  • Cyber

In all cases, our objective is to lower your total cost of risk and enhance your risk management strategies in alignment with growth and profitability goals.

Who We Partner With

Our practice focuses on providing comprehensive insurance and risk management services across a range of power generators with one or more of the following: coal-fired power plants, natural gas-fired power plants, nuclear plants, oil-fired power plants, hydroelectric, diesel engines, waste-to-energy, wind power, solar power, battery energy storage system (BESS), biomass, geothermal and hydrogen.

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Companies are grappling with traditional risks in new guises across both risk and human capital. How can business leaders best prioritize and respond to them?

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