As the risk landscape evolves, companies are taking a closer look at their resilience to risk. They are particularly interested in those risks that aren’t covered by conventional insurance policies. It was in this spirit that an energy company contacted Swiss Re Corporate Solutions with a view to insuring its exposure to a force majeure event.Learn more
More than AUD 500 million was the cost to utility companies to settle claims after power lines, blown over in a hot windstorm, were linked to
Australia’s Black Saturday bushfires in 2009. In times of climate change, events of this kind are set to happen more often – endangering not only lives and homes but also utilities – in Australia and many other parts of the world.