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As the backbone of the industrial world, a utility's primary goal would seem to be simple: absolute constancy and reliability. But this is no easy task in an environment that is constantly evolving on several fronts: in technology, world politics, government regulation and the marketplace. And of course there's always the weather.
The Willis Utilities Practice understands the complexities of the electric, gas, water and alternative energy industries. We have experience with all the potential exposures and risk management options for utilities. We have learned that the right solution to a problem can yield benefits beyond risk management and provide a utility company with the tools it needs to compete more effectively in the global marketplace.
What sets us apart?
Many of our staff have direct experience in both the utility and insurance industries. We understand that each utility company's risk exposures and risk requirements vary, depending on their specific operating environment, capital structure, regulatory climate, and corporate philosophy and approach to risk.
Some risks are manageable and can be retained, while others should be transferred to those better suited to accept those exposures. Success lies in the ability to quickly and accurately determine which is which. We help companies evaluate risk and determine ways to remove or alleviate risk exposure that could significantly impact future profitability and help ensure that the lights can always be turned on.
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Did you know Willis was the insurance broker for the first commercial service of the Airbus A380, as operated by Singapore Airlines on 25 October, 2007?