Aon-COFCO Construction, Power & Infrastructure (CPI) is our practice group dedicated to providing a broad range of risk advisory and insurance syndication solutions for any company or stakeholders involved in the power and renewable energy sectors. CPI is dedicated to providing comprehensive risk management services and solutions for power and renewable energy enterprises . CPI innovatively develops risk mitigation and insurance strategies to protect the entire lifecycle of the power and renewable energy project.
Aon-COFCO’s service is based on understanding our clients’ business, risk and insurance requirements and provides risk advisory and insurance syndication solutions for a multitude of companies or stakeholders involved in the power or renewable energy sectors, including:
- State-owned, privately-owned and Independent Power Producers (IPPs)
- Transmission and distribution companies
- Original Equipment Manufacturers (OEMs) and equipment suppliers (including nuclear, coal, thermal, gas, wind, hydro, geothermal and solar)
- SPVs or LLCs formed for specific infrastructure projects
- Funds, private equity investors and managers
- Banks, export credit agencies and multi-lateral lenders
- Consultants and financial advisors
CPI works closely with Aon’s Global Power Specialty, delivering risk profiling & contract analysis services, including：
- Project and/or annual insurance programme design
- Insurance and reinsurance brokerage via local and international placement teams
- Business risk modelling including project delay or business interruption risk
- Risk management and loss control expertise
- Complex claims advisory
- Insurance due diligence
- Project investment and finance insurance solution
Our China specialty team has a deep understanding of the power generation sector (including unparalleled experience in the non or limited recourse project finance arena), and leverage with the major insurers in Asia, London and Bermuda – providing China domiciled clients best in class risk advisory and insurance broking service supported by a world class global platform.
The Aon-COFCO Approach
Our China based industry experts understand the risks, potential liabilities and exposures faced by our clients, as well as the power industry’s ever-changing dynamics. Aon-COFCO’s expertise encompasses the following sectors:
Specific advisory services include:
- Development of project and business risks register: evaluating the full spectrum of operational, financial, strategic and hazard risks impacting our clients
- Claims advocacy: forensic accountants provide pre-loss advice and post-loss settlement support
- Contractual analysis of project documents including: Power Purchase Agreements (PPAs), Fuel Supply Agreements and Engineering Procurement Construction (EPC) contracts
- Lender’s insurance advisor interface, negotiation and advocacy
- Alternative Risk Financing (ARF) including risk retention analysis and captive feasibility/utilisation assessments Loss Control engineering services including loss prevention training, health and safety management and HAZOP studies
- Catastrophe modelling and Estimated Maximum Loss (EML) projections
- errorism risk assessment and management
- Disaster recovery and Business Continuity Planning (BCP)
Risk transfer solutions include:
- For construction phase of a power station: Construction & Erection All Risk (CAR/EAR), Third Party Liability (TPL) and Delay in Start Up (DSU) as well as Marine Cargo and Marine Cargo Delay in Start Up Insurance
- For operational phase of a power station: integrated comprehensive insurance programmes including Property All Risks (PAR), Machinery Breakdown (MB) and Business Interruption (BI) insurance, Commercial General Liability and Employer’s Liability, revenue shortfall.
- Transmission and Distribution asset protection
- Long-term quality and performance warranty insurance
- Revenue shortfall insurance
- Weather risk solution
- Political risk insurance
- Terrorism insurance
Why Aon-COFCO CPI?
Aon’s power team brings together over 200 power and utility specialists in one dedicated global unit. In Asia, our team members include colleagues with expertise in nuclear, environmental risk consulting and construction quantity surveying. We offer industry specific multi-line insurance brokerage, client service, loss control, claims advocacy and programme management services.
We understand the unique risks which the Power industry faces. We create insurance and risk management programmes that protect our clients’ assets, safeguard our clients’ liabilities and enable informed decision making rooted in expert advice.
Aon-COFCO CPI continues to support the development of the China power industrywith our unrivalled professional expertise in risk management