Risk management and insurance programmes related to the power and energy sector need to be carefully constructed so as to protect the interests of various parties, including the plant owner, the operator and project financiers. Our insurance products cover the stages of plant design, construction, generation, transmission and distribution of power, electricity or gas, including machinery breakdown

A feature of modern power projects is the substantial sums insured and the large potential liability exposures that exist. This in turn calls for the use of an experienced broker and reinsurance broker that is able to access specialist local, regional and international markets in order to get the breadth of cover and the levels of capacity that are required. Senforce Insurance Brokers can fulfil this key role.

Different types of policies are available to offer protection at each stage of a project including the design, construction, testing, commissioning and operational phases of a project. We have access to the leading insurance markets in this field and this enables us to arrange optimum insurance covers, terms, prices and payment terms for our clients.

Areas of cover include:

Oil and gas insurance is a specialist area of cover because of the potentially hazardous nature of the work and the remote regions involved - both onshore and offshore. Production can also be situated in war or terrorist areas and executives can be vulnerable to kidnap and ransom demands.

We provide insurance cover to investors and contractors in the following fields of oil, gas and energy businesses:

Using a mixture of international insurers and underwriting facilities, we negotiate competitive insurance for oil and gas companies, suppliers, contractors and individual workers.

Power Generation and Distribution companies are engaged in the business of generation and bulk purchase of electricity, and its sale to customers. Power Distribution is a capital intensive business which is based around the distribution of electricity from the transmission system to the customer's premises.

The transition of GENCOs and DISCOs ownership from public to private ownership can create significant risks and insurance issues. With the strength of public ownership, the majority of risks can be absorbed at national level. However, private sector ownership, particularly with project finance style 'debt financing' requires a very different approach to risk transfer which insulates the owner and lender from significant exposure.

Many of the typical risks faced by GENCOs and DISCOs are not compatible with the preferences and appetite of insurers in the sector. For example, overhead transmission lines are a standard exclusion under the treaty reinsurance protection, so the ability of the insurance market to provide meaningful capacity is greatly restricted.