PPP / PFI is a form of procurement where the public sector procures services over a prescribed concession period (frequently 20 years or more) in a manner which leaves the risk of ownership and efficient operation of the project facilities with a private sector supplier. It is a modern form of public sector procurement designed to achieve improved value for money through a focus on whole life costing and increased risk transfer to the private sector. PPP / PFI is not the same as privatisation as the public sector retains ultimate responsibility to the public for the service concerned. PPP / PFI has become a well established concept and is adopted in many territories around the world.
Willis is involved in all sectors of PPP /PFI activity from consultancy services to Authority parties and Lenders, to the design and delivery of insurance programmes for the private sector participants. Since 1995 we have acted on over 250 signed and ongoing projects in all sectors of PPP / PFI business including - Health , Defence, Education, Police & Custodial, Transport & Infrastructure, Waste, Water and Utilities, Airports & Aerospace, Training and output based services.
Our services are delivered through the Willis PPP / PFI Practice which draws together over 50 specialist professionals with a wide spectrum of industry expertise, acting for service providers, lenders, governmental and public bodies. Assignments we regularly undertake include - Risk assessment, allocation and insurability studies. Insurance due diligence consultancy on behalf of project finance lenders, bond underwriters and third party equity investors. Insurance consultancy, bid evaluation and support in insurance negotiations on behalf of governmental and public sector bodies. Design, placement and administration of insurance programmes (construction and operational). Contract review and insurance contractual requirements compliance. Willis expertise and international network enables us to carry out assignments in the majority of territories throughout the world. We are one of the leading service providers in this specialist field.