Construction, Power & Infrastructure
Global construction spending now exceeds $4 trillion annually. The risks inherent in such projects can be contractually and financially complex, region-specific, and multinational and multi-enterprise in required breadth. Aon’s Construction risk management and assessment services provide tailored solutions to help organizations anticipate and effectively react to these challenges.
At the same time, the growing global demand for energy coupled with increasing environmental pressures is creating many conflicting challenges for the power and utility sector and leading to a surge in the need for effective power risk management and insurance.
In Asia, we have combined these two specialties under our integrated Construction, Power & Infrastructure Practice in order to provide seamless, comprehensive service to clients during both the construction and operational phases of such projects, especially during the potentially complex transition into commercial operations.
Supporting the Power Project Lifecycle
We offer expert risk management and insurance support throughout the lifecycle of a construction, power, infrastructure or engineering project.
Over and above that, Aon is committed to offering innovative risk management and insurance solutions for the challenges that the industry faces around the world.
Acting for owners, developers, financiers, contractors and construction professionals, we have successfully implemented and serviced insurance programs for many of the largest construction and engineering projects, as well as annual, operational insurance programs for the same and similar risks.
We have strong relationships in all global insurance markets and can provide a broad range of risk solutions backed by superior levels of service, tailored to each individual client's needs.
The team
Aon has dedicated specialists that focus on supporting the risk management and insurance needs for our clients in the construction and power generation industries. In addition to a dedicated local servicing team and regional resources based in Singapore, we are able to draw on worldwide expertise from anywhere within Aon.
This allows us to provide our clients with comprehensive knowledge of the regulatory, financial, technological, environmental and geographic aspects of the construction and power industries in Singapore and across the Asia region.
Our Capabilities:
- Reviews of contractual risk – assistance with risk allocation
- Drafting insurance and indemnity clauses
- PPP and PFI project insurance solutions
- Alliance project solutions
- "Arbitraging of risk" techniques to reduce total cost of risk (not just insurance cost)
- Lenders due diligence advisory services.
Some Solutions We Offer:
- Contractor Arranged Project Insurance Programmes (CCIP)
- Owner Controlled Project Insurance Programmes (OCIP)
- Delay in start-up protection
- Project marine cargo
- Annual contract works programmes
- Contractors' plant and equipment insurance
- Latent defects insurance
- Environmental impairment insurance
- Political risks
- Project and annual professional indemnity insurance
- Public liability and completed operations
- Bonds