Power and Industrial Risks

Syndicate 3210 has been underwriting Engineering type business since 2001. The decision was taken to create a dedicated Power and Industrial Risks Portfolio in April 2011.

The portfolio contains power generation business – thermal, gas turbine and renewables – and the heavier end of the industrial risk sector where clients are purchasing significant machinery breakdown cover. Example sectors include steel, pulp and paper, cement and gas processing.

Key risk considerations are:-

• clients employing proven technologies
• plant with good remaining design life
• clear evidence of client engagement in a risk management programme.

Upstream energy, stand-alone mining and off-shore business are not typically underwritten. The portfolio uses a diverse distribution channel and seeks to establish and maintain strong relationships with our brokers and clients. The Power and Industrial Risks portfolio is closely linked with our International portfolio and our Construction class of business. The Power team is located within the London office and also maintains a presence within Lloyd’s.

Risks are written on both a direct and reinsurance basis and a selection of primary, XOL and QS are employed. Coverage provided is All Risks, including Business Interruption and Machinery Breakdown, often including CAT coverage.

Key contacts

Matthew Bond
Class Underwriter
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Ross Barlow
Underwriter
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Laurence Talbot
Underwriting Assistant
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