Energy risk solutionsGas and diesel engine generator sets

HSB Operational Energy Risks Insurance

Gas and diesel oil engine generator sets (gensets) can be used in a number of different settings and applications. They are an important source of supply to the UK national grid’s short term operating reserve (STOR); used to supply short term additional electricity to the grid to manage any surge in demand or fall in supply. Gensets are also often utilised as a source of heat and power in combined heat and power (CHP) units in applications such as district heating systems. Gas engines are also used in a renewable energy capacity to convert landfill gas to energy.

HSB has developed an insurance solution covering operational engine power generation technology risks; as part of CHP units (including for STOR and peaking plant application) and gas engines generating power from landfill gas.

What is Operational Energy Risks Insurance?Our policy covers damage, breakdown and business interruption in respect of gas and diesel oil engine gensets:

− All risks cover, including equipment breakdown cover, provided as standard

− Loss of revenue covers available on all policies

− Extensive underwriting expertise in operational energy risks

− Cover available across the UK

− Access to experienced energy risk engineers

− Access to claims handlers and loss adjusters with specialist knowledge of operational energy gensets

− Inspection services, to comply with regulatory obligations, are available in the UK via our network of technically-experienced Engineer Surveyors

HSB Operational Energy Risks Insurance

This is an overview of HSB’s Operational Energy Risks Insurance product. For full details of the cover and further information, please contact your local HSB office.

Why choose HSB?Our underwriters and risk engineers have extensive experience in writing operational engine power generation technology risks, and are recognised as experts in this field. Drawing on our considerable engineering expertise, we are able to provide tailored insurance products to meet the needs of our customers.

− Leading specialist provider of engineering and technology insurance and inspection services in the UK, Ireland and Europe

− Proactive inspection service carried out by a network of competent, technically-experienced Engineer Surveyors located throughout the UK and Ireland

− UK-based arm of HSB Group, the equipment breakdown insurance and inspection market leader since 1866

− Part of Munich Re, a world leader in risk solutions, consistent risk management and financial stability

− Financially strong and stable – rated A++ (Superior) by A.M. Best Company

− A member of the Institute of Customer Service, demonstrating our commitment to continually improving customer service performance and professionalism

HSB Operational Energy Risks Insurance in actionThe following provides an illustrative example of the type of claim that is covered under our HSB operational energy risks product.

Incident

A 1,000 kVA container-type generator at a peaking power facility experienced a fire event.

Example claim cost

£210,000

Broker/intermediary use only

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HSB Engineering Insurance Limited, registered in England and Wales: 02396114, New London House, 6 London Street, London EC3R 7LP. Registered as a branch in Ireland: 906020. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

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