Companies in the utilities sector have to work within a complex regulatory framework; competition is fierce; and environmental pressure is growing all the time. Meanwhile, increasingly frequent severe weather events such as floods are creating significant disruption for the sector and its customers – and can quickly become PR disasters.
However, digital technology is revolutionising the industry with smart tools and systems, while the growing ‘internet of things’ is creating valuable opportunities across the board. Smart resource management, customer relationship management, mobile payment facilities, and app-controlled usage and data collection systems are all improving efficiency, lowering costs and reducing waste.
They are also opening up a host of new commercial opportunities. While there will always be plenty of competition to contend with in the sector, the opportunities for agile and innovative companies that use the new technologies to fully engage with customers and develop new ways to add value are immense.
We have supported water, gas, electricity and telecommunications companies for more than 20 years and work with many leading companies in the sector.
Our underwriters understand the nuances of the sector and have the flexibility to create cover that meets individual requirements. For example, because some utility companies are interested in long-term arrangements, we are able to write policies of up to five years. And because many utilities buy insurance for big, catastrophic events rather than more everyday claims, we can offer tailored programmes incorporating large excesses.
Our approach is not just about paying a cheque; we always strive to add value and build a strong relationship with our customers. One way we do that is through providing comprehensive risk management support, with a particular emphasis on helping our customers to become more resilient to natural events, such as flooding. We regularly share knowledge and benchmark customers against their peers, as well as providing guidance on how to make improvements and safeguard against emerging risks.
In the event of a claim, our Claims team have the authority to make decisions, so they are able to respond to your needs quickly and efficiently. They take a creative, proactive approach to controlling and mitigating an evolving claims situation to ensure that your assets are protected.
Finally, we have the resources to deliver effective insurance solutions and support wherever your operations take you. Our local servicing footprint extends to more than 150 countries, so we are well placed to deliver globally compliant multinational programmes.
Our Property cover offers protection from damage to your physical assets, as well as any resulting disruption to your business. Our experience of working with utilities firms allows us to help companies of all sizes, from single-site operations to multinational conglomerates.
Read more about Property
Our Real Estate team covers commercial and residential property owners for physical damage and loss of rental income, as well as the impact of legal liabilities resulting from injuries to employees or third parties.
Read more about Real Estate
We offer utilities companies effective protection against claims for damage or injury brought by third parties. Our experience stretches back several decades and we have earned a reputation for sticking with customers and sectors through good times and bad.
Read more about General Liability
Our Employers’ Liability insurance covers utilities companies for their duties under the Employers’ Liability (Compulsory Insurance) Act 1969 to insure against liability for bodily injury or disease sustained by employees.
Read more about Employers' Liability
As providers of essential services, utilities companies need to ensure they are protected against the cost of defending claims or paying damages if they provide inadequate advice, services or designs that cause their customers to lose money.
Read more about Professional Indemnity
With regulators increasingly holding directors and officers personally responsible, Directors’ and Officers’ Liability cover is becoming more important in the utilities sector in order to attract and retain key staff.
Read more about Directors' and Officers' Liability
With fraudsters constantly developing new methods to target companies, we provide robust Commercial Crime cover and keep you abreast of the latest scams, as well as working with you to reduce your vulnerability to such risks.
Read more about Commercial Crime
Environmental Impairment Liability cover insures against risks arising from past or current operations, or for which you retain a legal liability. Cover includes claims for clean-up, bodily injury and property damage arising from pollution or environmental damage.
Read more about Environmental Impairment Liability
We can create compliant multinational programmes for a wide range of products – including General Liability, Property, Professional Indemnity and Directors’ and Officers’ Liability – in more than 150 countries.
Read more about Multinational