Power Insurance
Power assets are among the most complex and high-value risks in the world. When something goes wrong, the financial stakes are high and the margin for error is small.
Canopius provides specialist power insurance for regulated and non-regulated utilities, independent power producers (IPPs), gas and electric providers, and private equity-backed platforms, with coverage built around your risk.
Our power insurance is specialist property coverage designed for businesses that generate, transmit, or distribute energy. It protects against physical loss or damage to operational assets, and the business interruption losses caused by asset ‘downtime’.
Unlike commercial property insurance, our power insurance is underwritten with detailed technical understanding of how power assets are constructed, operated and maintained.
Our depth of knowledge shapes everything from how your risk is assessed to how a claim is handled.
As mentioned earlier, power assets are some of the largest, most complex insurable risks in the world. A major loss event doesn’t just mean repair costs, but it also triggers a chain of financial and operational consequences that standard commercial property insurance isn’t designed to handle.
Without adequate specialist cover, a power operator facing an extended outage could be exposed to:
- Prolonged revenue loss
- PPA and contractual penalties
- Lender and investor exposure
- Regulatory and grid obligations
- Underinsurance risk
Specialist power insurance addresses these risks directly, with coverage structured around how your assets operate and the actual cost of losses to your business.
What Our Insurance Covers
Our Power energy insurance policies cover a range of operational exposures across power-generating assets, including:
- Physical damage to power generating-assets
- Business interruption, such as lost revenue and fixed costs during downtime
- Machinery breakdown and equipment failure
- Damage from fire, explosion, natural catastrophe, and operator error
- Debris removal following a loss event
What Type of Power Is Covered?
- Gas
- Combined Cycle (CCGTs)
- Simple Cycle (SCGTs)
- Hydro
- Coal
- Biomass
- Reciprocating Engines
- Geothermal
- Substations (Distribution & Transmission)
Where We Can Help
Canopius works with businesses across the power sector globally. We support a wide range of client types and ownership structures:
- Regulated and non-regulated utilities
- Independent power producers (IPPs)
- Gas and electric providers
- Private equity-backed energy platforms
We cover risks in more than 130 countries and, with up to USD 50 million capacity on any one risk, we can participate as a lead underwriter or take quota share, primary, or excess layers, depending on what suits you best.
If you’re unsure, our underwriting specialists will guide you through the options best suited to your business structure and sector.
Speak to Canopius About Power Insurance
Our in-house team has more than 50 years’ experience handling complex, global claims. We are solution focused, working in collaboration with you to structure a policy around your needs and what actually works for your business.
Our team combines technical expertise with practical insight to deliver protection where it matters most.
Get in touch with a Canopius underwriter or broker partner to see how we can help you.
