Expertise Publication

Insurance aspects of gas turbomachines

The power generation market worldwide has undergone rapid changes in the last ten years. Recent deregulation and privatisation of power utilities has introduced new market players. As profit-oriented operations, these new power producers are continually demanding further technical performance improvements of power generating equipment. The insurance industry has been made acutely aware of such developments by suffering an increasing number of substantial losses involving both new and upgraded turbines of all major suppliers.