Aon has launched a lifecycle insurance programme for gas and power projects, designed to provide more integrated risk-transfer solutions across different stages of major energy developments. The programme is aimed at addressing the complex risk profile of large infrastructure projects, where exposures can change significantly from construction and commissioning through operations.
The approach brings greater focus on project lifecycle risk, rather than treating construction, operational and other exposures as completely separate insurance requirements. Gas and power projects can face risks including construction delays, equipment damage, business interruption, natural hazards and operational failures, with the nature and scale of exposure changing as a project progresses. A lifecycle structure can help project owners consider these risks together and identify potential gaps between different phases of coverage.
The development reflects the increasing importance of integrated risk management for large infrastructure projects. For insurers, brokers and project owners, understanding how risk changes throughout the asset lifecycle can support more appropriate coverage, risk engineering and loss-prevention measures. As energy infrastructure becomes more capital-intensive and interconnected, lifecycle-based insurance solutions may also help organisations manage transition points where conventional policies can leave gaps in protection.
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