Power and Industrial Risks
Syndicate 3210 has been underwriting Engineering business since 2001. The decision was taken to create a dedicated Power and Industrial Risks portfolio in April 2011. The portfolio forms an integral part of the overall Syndicate's business and is a Class the Syndicate remains highly committed to.
The portfolio contains power generation business – including 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 mineral and gas processing.
Key risk considerations are:-
- clear evidence of client engagement in a risk management programme
- clients employing proven technologies
- plant with good remaining design life
Upstream energy, stand-alone underground 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 team is located within the London office on Fenchurch Avenue and also maintains a daily presence in Lloyd’s from Box 152, Gallery 1.
Risks are written on both a direct and reinsurance basis and a selection of Primary, Excess of Loss and Quota Share are employed. Coverage provided extends to All Risks, including Business Interruption and Machinery Breakdown, often including CAT coverage.
Our territorial remit is worldwide with the exception of US or Japanese domiciled risks.
Mitsui Sumitomo at Lloyd's
View our underwriter's attendance at Box 152
"A really strong team of people that can provide that level of expertise across the breadth of subjects required to support the broker"
"You can always have a discussion with them with pragmatic solutions rather than quoting rules and regulations, because most clients live in the real world!"See for yourself...