What type of business is it good for?
- Quota share or excess of loss programmes physical damage only or combined with business interruption
- Broad range of occupancies including conventional coal/oil/gas/biomass fired (excluding waste to energy)
- Non-fossil fuel technologies including hydroelectric, geothermal and concentrated solar
- Cross industry participation from single location merchant to multi-location regulated utilities
Kevin Seakins
Senior Underwriter
Insurance
London, England
kevin.seakins@axiscapital.comkevin.seakins@axiscapital.com
Tel +44-20-7847-3462Tel +44-20-7847-3462
Overview
S&P A+ rated security
Global underwriting resources
Emphasis on technical differentiation of risks underwritten
The efficient and reliable generation, transmission and distribution of electric power is an essential component of any successful economy, yet constitutes an extremely capital intensive undertaking. Even the largest of industry protagonists need to protect the significant investment made in the sector, whether it be from direct physical damage, or loss from a pecuniary perspective. AXIS specialty power generation team is highly experienced in assessing the risks associated with these complex facilities and in developing risk transfer solutions that are economic and sustainable, meeting the needs of equity owners and lenders alike. Our underwriting resources—situated in London, Miami and Singapore—are ideally placed to support the local and regional markets providing insurance and reinsurance capacity with a security rating sufficient to satisfy the most demanding of requirements.
Solutions
Solution
AXIS Business Interruption Insurance
Insurance
The impact on cash flow as a result of interruption of revenues can be mitigated through the inclusion of AXIS Business Interruption Insurance. It can help cover the fixed costs, as well as the net profit which would have been earned by a business for any interruption in operations caused by the physical damage covered above.
The impact on cash flow as a result of interruption of revenues can be mitigated through the inclusion of AXIS Business Interruption Insurance. It can help cover the fixed costs, as well as the net profit which would have been earned by a business for any interruption in operations caused by the physical damage covered above.
Solution
AXIS Physical Damage Insurance
Insurance
AXIS Physical Damage Insurance provides indemnity for the costs incurred to reinstate plant and equipment following damage caused by a broad range of perils including; fire and explosion, natural perils and machinery breakdown. Coverage can be extended to cover additional expenses typically incurred in the investigation and reinstatement process.
AXIS Physical Damage Insurance provides indemnity for the costs incurred to reinstate plant and equipment following damage caused by a broad range of perils including; fire and explosion, natural perils and machinery breakdown. Coverage can be extended to cover additional expenses typically incurred in the investigation and reinstatement process.
Capabilities
- Highly experienced underwriting team with a regional focus and global outlook
- Strong claims resource with extensive knowledge across the sector
- Dedicated renewables, construction and terrorism underwriting teams augmenting our conventional power generation offering
Optional coverages
Terrorism
- Coverage can also be afforded for risks such as strike riot civil commission and terrorism through our in-house political risks team.
Construction and delay in start-up insurance
- Coverage can be arranged through our construction team for your project, whether greenfield development or the extension of an existing facility, whilst under construction and for the future earnings of the completed project. Our broad coverage can offer primary third-party liability protection together with ongoing protection during the warranty or guarantee period, post completion.
Target classes
- Conventional coal/oil/gas/biomass fired steam based generation
- Aero-derivative and heavy industrial combustion turbine based generation (simple and combined cycle and including integrated gasification combined cycle)
- Reciprocating engines
- Geothermal (direct steam and organic rankine cycle)
- Hydroelectric generation including dam storage, run-of-river and pump storage
- Concentrated solar
Note: All capabilities (including deductibles, self-insured retentions, limits of liability and minimum premium) are for illustrative purposes only as to products offered by AXIS insurers licensed in the state and not necessarily indicative of the capabilities of any other AXIS company.
Documents
Documents
AXIS Power Generation Insurance Appetite Guide
Experienced and efficient claims management
Close Collaboration
Between Claims, Underwriting & Distribution Partners
Our energy claims specialists offer exactly what clients want when a file is claimed. The ability to manage claims efficiently. We put years of experience behind every claim so clients can trust that their claim will be resolved efficiently.
