Description of circumstances:

The task entrusted to Nord Partner consisted in identifying risks and preparing an insurance scheme for the process of construction of a generation unit with a capacity of several hundred MW and a value exceeding PLN 1 billion.

Actions taken:

Nord Partner as part of the accepted order:

  • Identified insurance risks;
  • Designed contractual provisions concerning the required insurance in contracts with Contractors;
  • Prepared an insurance scheme for risks associated with the investment process, including risks associated with indirect losses resulting from the delay in commissioning the unit as a result of losses;
  • Set out a purchasing strategy that includes an analysis of the market of service providers and activities aimed at obtaining competitive offers;
  • Conducted a negotiation process with regard to the parameters of the insurance scheme;
  • Prepared appropriate procedures related to the performance of insurance contracts, including procedures for Contractors;
  • Participated in the management and evaluation of the insurance scheme.

The activities undertaken as part of the order, mainly related to the preparation of the purchasing strategy, allowed for a significant reduction of risk transfer costs with the assumed scope of required insurance coverage.