We combine our knowledge of the industry with a thorough understanding of your organization to create a complete risk management strategy, from conception to marketing to implementation and ongoing management. This strategy joins a tailored approach to the standard risk management coverages (Property, Casualty, etc.) to the specialty needs of utilities. Some of these include:

  • Corporate Governance. Personal accountability to a wide range of stakeholders for a perceived or actual misstep in any of the areas below is higher than ever before
  • Environmental Exposures. Old sites, waste depositories, emissions controls. We can assist with the following areas:
    • Financial insurance mechanism structuring for the NRC, EPA and state requirements for nuclear and decommissioning for closure/post-closure liabilities
    • Transportation and disposal site coverage for waste
    • Cost overrun for environmental remediation and nuclear decommissioning
  • Weather Exposures. These can lead to uneven revenue streams - cool summers mean low power sales; warm winters, low gas sales; droughts can impact hydro facilities
  • Spot Market Exposures. Replacement power, gas supply prices, spark spread issues - reliable energy in the face of full or partial outage exposures
  • Regulatory Concerns. FERC, PUC, rate base recovery and rate freeze issues - just keeping track of all them is complicated enough
  • Terrorism. Transmission companies as well as hydroelectric and nuclear facilities are potentially major targets
  • Technology Issues. Restricted markets for prototype equipment and design exposures
  • Builder's Risk. Technology issues, civil exposures, advance loss-of-profits, wrap-ups; in foreign countries there can be Kidnap & Ransom and Political Risk exposures as well
  • Power Sales Exposures. Purchase power contracts, gas take-or-pay contracts, capacity payments merchant power sales

Willis In History

Did you know Willis was the broker for the first “project finance” coal fired power project to be constructed in China?