AEGIS Energy and Power Industries:
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.
Our Energy and Power Practice can help you to navigate these challenges.
Aegis 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.
Energy: Oil, Gas, and Petrochemicals
Our 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.
Power: Generation, Transmission and Distribution, and Retail
Our 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.
Our renewable energy specialists are at the forefront of the latest developments in the sector. From prototypical offshore wind projects to more familiar solar PV plants and from 'frontier' territories to those with long-established power grids, our clients must manage risks both familiar and novel. Our renewable energy specialists can help guide your company through this evolving risk landscape.
Renewable Energy – Solar - Wind
The renewable energy sector is truly global, encompassing a wide range of technologies, deployed in all environments. From prototypical offshore wind projects to more familiar solar PV plants and from 'frontier' territories to those with long-established power grids, our clients must manage risks both familiar and novel.
As the industry grows and facilities age, most notably wind farms and solar photovoltaic plants, owners will need to focus increasingly on asset management and maintenance issues.
The long-term financial viability of the assets will be determined increasingly by choices around maintenance regimes, operation and maintenance (O&M) contractor selection and, where feasible, 're-powering' or upgrading of facilities.
• Specialize - Expertise :
With the growing scale and complexity of the sector also come more sophisticated risk management requirements and options. Our renewable energy specialists can help guide your company through this evolving risk landscape.
We specialise in the following key sectors:
• Industrial Facilities :
At Aegis we’re committed to protecting you from the specific risks that your business faces, whether you work in oil and gas, power and utility, or alternative energy. With dedicated underwriters and a specialized claims handling unit, we understand the complex hazards and risk management needs of the energy industry.
We provide tailored solutions that include superior service, claims handling, and risk control.
We work with a range of businesses, including:
Ancillary oil field services
- Drilling contractors
- Geophysical engineering and consulting
- Instrument logging or survey work
- Manufacturer/distributor of oil field eq/nt.
- Oil and gas well service contractors
- Oil field tool and equipment rental
- Oil or gas lease operators
• Construction Builders’ Risk :
Renewable and distributed energy production facilities are often situated in remote locations separate from where the energy is actually used, which creates additional exposures to severe weather conditions and other hazards. Theft of equipment or supplies, site security, and contractor competency are a few of the main concerns with all builders’ risk projects.
We’ve formulated our best practices through years of experience with project installation companies for multiple renewable energy technologies. AEGIS consults with our insureds to share this valuable expertise.
Builders’ Risk coverage includes :
- Construction All-Risk
- Erection All-Risk
- Physical Damage (Fire, Equipment Breakdown)
- CAT (Earthquake, Flood, Wind, Hail)
- Delay in Start Up
- Builders’ Risk can roll into Operational Coverage Terrorism
• Protecting Your Business Against Equipment Breakdown:
No matter the size or type of business you own, your equipment and technology help keep your operation running. Without fully functioning equipment, how would your business fare financially? While standard property insurance protects you against external causes of loss, such as fire, losses resulting from equipment failure—such as a short circuit or power surge—may not be covered. Liberty Mutual Insurance offers packaged or stand-alone equipment breakdown coverage for these types of losses.
Types of equipment covered include :
We identify your users based on their behaviour and figure out the best time and the best way to reach them.Each user sees a different personalized message.
- Diagnostic equipment
- Computers and telecommunications systems
- Pressure vessels
- Mechanical and electrical equipment
- Production machinery
- Coverage Options
- Refrigeration and air-conditioning equipment
Equipment breakdown insurance can cover more than the cost to repair or replace your equipment. It can cover lost income if you need to temporarily shut down, the extra expenses needed to continue running your business while equipment is being fixed, or the lost value of spoiled or contaminated products. It can even cover losses and expenses your business may incur if normal operations are interrupted by an off-site equipment-related failure.
Dedicated Support for Complex Programs
If your business has more complex needs, our dedicated team that focuses on equipment breakdown underwriting, risk engineering, and claims can help ensure you have the right coverage and services.
You can also benefit from on-site visits with our in-house, risk engineering consultants, who provide assistance in meeting your jurisdictional obligations and offer recommendations to safeguard your equipment and property against risks.