Power Generation Risk Protection
Protecting power generation facilities against major operational risks with a package approach covering property damage, machinery breakdown and business interruption exposures, subject to policy terms and conditions.
Protection can be structured around the plant, generating equipment and associated property.
Sudden mechanical or electrical equipment failures may be addressed according to the policy wording.
Financial consequences of an insured interruption can be considered under applicable cover.
Power plant insurance is designed for the particular exposures of electricity-generating facilities. Depending on the policy structure, the package can combine physical damage protection with machinery breakdown and consequential business interruption cover.
Typically focuses on specified property and insured perils such as fire, lightning and other extensions selected under the policy. Exact protection depends on the policy wording.
A specialised operational package can bring together property damage, machinery breakdown and business interruption exposures for an electricity-generating facility, subject to underwriting and policy terms.
A package approach can address multiple operational exposures under one insurance programme.
Helps manage the financial impact of insured physical damage and covered interruption.
Coverage can be structured around high-value plant equipment and supporting property.
Business interruption cover may help address lost income after insured physical damage.
Notify Republic Insurance promptly after an incident and take reasonable steps to minimise further loss.
An appointed surveyor may inspect the damaged property and assess the circumstances of the loss.
Submit technical reports, repair estimates, invoices and financial records where required.
After assessment and policy verification, the claim is settled according to the applicable policy terms.
