Dynamic Changes Continue in Power and Energy Industry

Wind turbine farm

Crawford GTS® Specialists Help Mitigate Unique Power and Energy-Related Issues

Today’s power companies are under pressure to demonstrate responsible practices, innovation, flexibility, sustainability, resilience and tolerance. According to a 2015 Deloitte study, The future of the global power sector—preparing for emerging opportunities and threats, these companies must improve their efficiency to achieve not only greater cost competitiveness, but also an outstanding level of environmental performance.

Wind turbine farm

Wind turbine farm

At the same time, fundamentally new sources of energy have come online throughout the past decade. Oil, gas, natural resources, such as wind and solar, have altered the industry as many major suppliers continue to venture into several of these sectors simultaneously.

Platform drilling in the Gulf of Mexico and the Middle East. Lithium-ion factories in Cleveland and Kathmandu. Nuclear reactors at Indian Point and in India. Wind farms in Palm Springs, Ca., the Pacific Ocean and the North Sea. Wells, both onshore and offshore. Dams and grids, large and small. The Power and Energy group of Crawford Global Technical Services® (GTS®) possesses knowledge and experience across the diversity of this industry’s unique issues. The acquisition of Lloyd Warwick International Limited (LWI) builds on Crawford & Company®’s existing capacity in the energy market and bolsters our onshore and offshore energy loss consulting capabilities, demonstrating an unparalleled dedication to client service.

The matrix of issues encountered by this industry is virtually infinite, encompassing:

  • Environment
  • Exposure to consumers, corporations, and governments
  • Geography (local, national, global)
  • Liability and litigations
  • Operations failures
  • Platforms
  • Regulatory issues

Losses Can Be Staggering 

Insurance coverage in the Power and Energy industry is as complex as the potentially staggering losses. This industry faces significant threats that include terrorism, natural disasters, and regional power failures. Speed, experience, and expertise are more critical to assessing damages in this industry than in many others. GTS management teams have immediate access to every type of specific expertise. Our Power and Energy group is prepared to deal with the range of issues surrounding any large loss.

We recognize that these situations are not only complex, but massive as well. GTS has the experience to manage all of the competing streams of experts, insurers, re-insurers, lawyers, environmentalists, forensics, and regulators. We fully understand how any losses in this industry can escalate into major interruptions in business. Access to experts, often GTS colleagues, who run our practices focused on manufacturing, mining, engineering, and technology, are made available in real-time, 24/7, around the globe.

Experience the Benefits of Partnering with Crawford GTS

The multinational and global risk and insurance community needs a team of experts with the experience and industry focus to evaluate and assess damages under extreme conditions. Crawford GTS has the commitment, skills, resources, technology and the experience required to meet the specific needs of each client.

Crawford GTS Key Service Features Include:

  • Worldwide service—a global network of experts, including surveyors, environmental scientists, engineers, consultants, and specialist case handlers
  • Compliance—strict adherence to relevant governing legislation (ELD, CERCLA/Superfund, etc.)
  • Cost-effectiveness—reduced indemnity spend, financial assurance for insurers
  • Confidence—transparent claims procedures and reporting standards
  • Reliability—experienced, qualified professionals, infrastructure and leadership to strategically project manage losses anywhere on the globe

For more information about GTS Power and Energy expertise, contact Mike Reeves, executive vice president and head of GTS, at +44 (0) 207-265-4096.

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