 Contact: Peter Ovcar
Telephone: (03) 9603 2755
Corporatisation/Privatisation among power, gas and water suppliers in Australia has led to greater competitive pressures and higher customer expectations in this sector.
Utilities now need to address new business risks, such as:
- unauthorised trading/insider trading
- failure to supply electricity, gas and water
- the sale of power at a contracted price
- the pressure to maintain market share and client base
Traditional risks for Utilities remain just as relevant and also need to be addressed.
These include:
- public/products liability
- injury suffered by third parties (including financial loss)
- bushfire liability (for specific industry participants)
- machinery breakdown including business interruption. This is now a major exposure for corporatised/privatised generators - Claims ranging from $20 million to $50 million now occur more frequently
Marsh works with a large number of utilities to manage risks and can provide:
- business continuity
- risk profiling/mapping
- the conduct of HAZOP studies
- the completion of fault tree on critical risks
- detailed fire protection advice
- maximum foreseeable loss studies (including the impact of bush fires)
- environmental risk evaluation and funding mechanisms
- weather products (protect revenue stream)
- employee benefits consulting and insurance
Marsh works with over 50 utility clients in Australia to provide risk analysis and advice and to implement solutions that protect their operations. |
