Energy
The world is transforming right before our eyes, where once-emerging countries have now become global economic powerhouses. With this remarkable shift, one thing has become clear – the world needs more energy.
As companies across the globe search for new sources of power, they are exposed to new risks. The global energy sector continues to attract considerable investment with focus on upgrading the existing infrastructure, renewables and new extraction technologies.
Turker team has long-standing experience in this complex sector to identify and provide practical solutions to customers. Knowledge and expertise on working with Energy and Infrastructure Investors to protect both the project itself, as well as investor interests by providing tailor-made solutions to each investment project throughout its life cycle. We developed a wide variety of insurance products to enable cedants to manage their individual risk exposure effectively according to their unique risk appetites.
Our Energy reinsurance service include a full range of insurance coverages such as:
- Upstream
- Downstream
- Midstream
- Power Generation and Utilities (Hydro, Fossil fuelled, Biomass)
- Wind, Solar, Alternative Energy and Renewables
- Natural Gas Transmission and Distribution
- Pipeline and Terminal Systems
- Oil Refineries and Refining Operations
Upstream/Offshore
This reinsurance provides property, third party liability, control of well and business interruption cover for oil companies, independent operators and drilling contractors involved in the exploration and production of oil and gas.
Downstream/Onshore
Onshore energy encompasses all aspects of oil, gas and petrochemical operations, such as the complex refining of crude oil, the cracking of hydrocarbons into the many petrochemicals it produces, or the transportation and storage of oil, gas and petrochemicals. This reinsurance provides property damage, Machinery Breakdown, Catastrophe and business interruption cover.
Alternatives/Renewables
Alternative or Renewable energy such as Wind, Solar, Water and Battery storage represents key areas of future facilities and are one of the fastest growing industries. They are now also considered a profitable investment.
Turker team enables better understanding of the cover needs throughout the entire lifecycle of the project from the moment the equipment leaves the factory, during transportation, throughout installation, during operation and right through decommission. When arranging a future-proofing coverage windstorm, wildfire, hail and floods are the top perils to consider.
Power Generation/Utilities
In a world with constant increasing electricity demand Power Plants and Utilities form the backbone of societies and economies are necessary.
Nuclear, coal, hydro and biomass are the major types of energy that are used to generate electricity in power plants across the world. But as a number of countries continue to move away from high-polluting fossil fuels towards low-carbon alternatives, the dynamic of how and where power plants operate is constantly changing.