Utility Business Insurance for Public Utilities

• Designed for power generators, the policy is an “All-Risk” format covering such perils as fire, flood, severe weather, terrorism, and mechanical/electrical failures.
• The policy pays for replacement cost, rather than depreciated value.
• There is no sharing of policy limits or deductibles, and the policies are non-assessable.
• The program is underwritten by a panel of “A”-rated insurance companies in London, Europe, and the U.S.A, reducing the risk of single carrier financial issues.
• A claims specialist is available to assist in the preparation of documents, quantification of the claim, and claim submission to underwriters.
• An asset appraisal service can be included (some restrictions apply).
• Marsh Wortham Power Gen Insurance will provide a side-by-side comparison of the ARGUS Program and the utility’s or joint action agency’s present insurance program.

• Distribution-only utilities may purchase insurance packages that offer lower costs and broader coverage. All lines of insurance are available, including workers compensation, public officials’ liability, general liability, automotive, umbrella, and terrorism insurance.

• This program recovers the costs of poles, traffic lights, and other fixed assets damaged by automobiles. It recovers costs from the automobile insurance of the drivers at fault. There are no upfront costs to the utility. If the recovery is successful, the service provider normally keeps 20% of the recovered funds but through a special offer valid thru 12/31/19, Marsh USA is reducing the recovery rate to 15%.

• With very little cost to the utility, employees can choose to purchase additional coverage for dental, vision, disability, critical illness, cancer, hospital indemnity, accident, and whole life insurance. The benefits are 100 percent employee paid, with employer contribution strategies available. The program may be customized to fit employee’s needs. No health questions are required, no one is denied, and all products are portable.

• Protection from liability and recovery costs from a data breach in which customer or employee personal information is exposed or stolen.

Environmental concerns continue to be a leading societal and business risk issue, whether related to quality and adequacy of water resources, threats to human health and the environment as a result of industry, or risks related to climate change. Marsh helps community-owned utilities and municipalities navigate this increasingly complex landscape by assessing environmental risks, determining appropriate risk management strategies, negotiating environmental insurance solutions, and, where necessary, providing claims management expertise. Marsh’s industry-leading environmental insurance brokerage practice is staffed by professionals drawn from engineering, consulting, underwriting, business, and risk management. The result: Expert advice to protect your balance sheet and realize your performance goals.