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?
- We handle three of the world's 15 largest utilities.
- We handle two of the largest merchant generators, one of which is nuclear.
- We handle the first merchant transmission company.
- We are the market leader in weather insurance.
- Our practice staff includes more than 200 Associates across North America and equally experienced expertise in the U.K. and other parts of the world.
- We develop new products as the industry evolves.
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.