Energy & Mining and Power
Global risk is increasing and becoming ever more complex, particularly within the energy sector. From upstream to downstream operations, the industry faces increased risk from a long list of sources including more remote exploration, deeper wells and water, greater civil liability, regulatory and political risks. These risks are amplified as companies face higher capital expenditures to complete new projects while dealing with the volatility in the commodity and financial markets.
Recent losses in the sector have highlighted the need for effective insurance and risk management programs. The last thing that an organization needs in the middle of a crisis is to find out that the insurance they were relying upon is anything other than completely effective.
Aon Risk Solutions Energy has the expertise to develop insurance and risk management programs to help you understand, quantify, and mitigate your risk.
Areas of Expertise
Our exclusive focus on the energy industry enables us to have dedicated professionals that look after clients in a variety of energy sectors including:
- Upstream (exploration/production)
- Major integrated and national oil and gas companies
- Midstream (pipelines/terminals/liquefied natural gas)
- Contractors (drilling/service)
- Downstream (refining/petrochemical)
Our strength lies in our ability to provide clients with a dedicated, global team of more than 300 specialists that are supported by 500 Aon offices in more than 120 countries. We offer a vast range of risk management solutions for energy companies including:
- Control of well
- Property/business interruption
- Actuarial and analytics
- Kidnap and ransom
- Political risk and terrorism
- Directors and officers
Obtaining the broadest coverage at the most competitive rates in a niche market requires the skills of a firm that is active in the energy market every day. The vast amount of business we place in the energy market enables us to establish broader policy terms and conditions and competitive pricing for our clients.
Energy claims are complex and our clients benefit from the knowledge and experience of our dedicated claims team. In the event of a claim we work on your behalf with the insurance markets and the legal sector to facilitate a prompt and satisfactory resolution.
The growing global demand for energy coupled with increasing environmental pressures is creating many conflicting challenges for the power and utility sector and leading to a surge in the need for effective power risk management and insurance.
Aon has dedicated power specialists that focus on supporting risk management and insurance needs for our clients in the power generation and utility industries worldwide. We provide comprehensive knowledge of the regulatory, financial, technological, environmental and geographic aspects of global power generation.
Local Knowledge, Global Presence
Our worldwide presence allows us to provide a dedicated local insurance service for our clients in the power industry, backed up by global power and utility resources and expertise.
The combination of global strength and local knowledge means that we can provide accurate peer benchmarks, development of new markets and capacity to increase competition and minimise cost, create new products and services and control the claims process to ensure fair and swift settlement for our clients in the power industry.
Power Specific Focus
With expertise in all areas of power generation including fossil fuels, sustainable and renewable energy and nuclear power, we help clients identify, manage and mitigate risk exposures cost effectively and efficiently.
By combining our skills with a comprehensive analysis of a client’s risk tolerance, we can provide a clear assessment of the total cost of risk a firm or project faces.
Supporting the Power Project Lifecycle
We offer expert risk management and insurance support throughout the lifecycle of a power project.
Aon is committed to offering innovative power risk management and insurance solutions to the challenges that the industry faces around the world.