Energy and Power April 2021 Newsletter

Risk Management Insights for the Energy Sector

Marsh Specialty is pleased to issue the latest edition of our quarterly Energy and Power Newsletter. The newsletter is a compilation of key trends that have impacted the industry during Q1, 2021 and provides risk management insights for the energy sector.

In this quarter’s edition, we provide:

1. An overview of the Energy and Power Insurance Market

2. A spotlight on Business Interruption Insurance in the energy and power space

3. An explanation to help demystify common insurance clauses

For a full review of these key risk management insights for the energy sector, download the full newsletter here.

1. An overview of the Energy and Power Insurance Market

The energy and power insurance market helps provide solutions for companies operating within upstream, downstream, casualty, traditional power and renewable energy environments. In our latest newsletter, we take a deep dive into the nuances and trends being experienced across the various sectors.

We also take a look at regional updates and key exposures, including marine, terrorism and casualty. These key risk management insights can be found on pages 4 to 12 of the newsletter.

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2. Spotlight on Business Interruption Insurance

Business interruption insurance is a complex topic for even the most experienced risk professionals. In fact, most ‘off the shelf’ business interruption coverages fall short of meeting the specific circumstances of energy and power operations.

In this edition, we unpack why one size doesn’t fit all when it comes to business interruption insurance, particularly for the energy and power sector.

Following on from key developments in the United Kingdom surrounding the Financial Conduct Authority (FCA) Business Interruption Test Case, which will determine whether COVID-19 related claims are covered by business interruption policies, we also provide a quick legal round up on what this means for the sector. For more specific developments within Australia, check out our latest Australian COVID-19 Business Interruption Test Case Update.

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3. Demystifying common insurance clauses

In this regular feature, we take a look at common clauses found in energy insurance that are often not well understood, and try to look at the intention of these clause and what they may cover or exclude. In this edition, we examine ‘expediting expenses’ clauses commonly seen within many property damage policies.

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Download the Energy and Power Newsletter

To uncover these key trends and more insights concerning the energy and power insurance market, download this quarter’s newsletter now.

Alternatively, please contact our Energy and Power team.

LCPA: 21/091