Energy Infrastructure Insurance with Experience of Over 35 Years and Integration of Senior Engineer.
Energy infrastructure development insurance is dedicated insurance for projects such as establishing traditional power stations powered by coal or gas, building renewable energy power stations based on solar energy, wind or water power, as well as work for renovating energy infrastructure, solar energy projects (for generating renewable energy in agricultural areas or on building rooftops) and more.
The insurance consists of three chapters - employers' liability insurance, property insurance and third-party insurance, and sometimes loss of profits insurance is added to it. Energy infrastructure development insurance is based on the fact that in work involving construction and/or with or on infrastructure "every damage is major damage".
Itzick Simon Insurance Agency has been involved in construction and infrastructure insurance for over 35 years and we provide a solution based both on years of rich experience and on an intelligent solution accompanied by a building engineer who is also a licensed insurance agent working at the agency.
Energy infrastructure insurance is a complex field centered on high-risk projects and there is difficulty in obtaining proper insurance. If insurance companies make it difficult to purchase infrastructure insurance at the general level, then regarding energy infrastructure insurance, this is even more so. It's not for nothing that regular contractors' work insurance recently excludes work at power stations or work in proximity to fuel/gas/oil/hazardous-materials systems and infrastructure. Similarly, the work embodies concern for property damage to what is being worked on, damage to adjacent property, third-party damage and loss of income.
Energy infrastructure construction insurance
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Risks in Energy Infrastructure Development
The risks arise - among other things - from working in a multi-system environment, sometimes active, with flammable and hazardous materials, hot work, work with heavy tools and more. Similarly, the work often requires considerable use of horizontal drilling instead of excavations and execution of planning and separation.
Usually, insurance companies require and mandate the presence of a supervisor on behalf of the infrastructure owner and positive detection of existing infrastructures is required through technological means or other methods such as soil suction in pipes and visual identification.
Often additional complexity is created due to a large scope of Israeli and international parties presenting different insurance requirements for the project. For example, Israeli and international energy companies, the Ministry of Energy, the local authority where the work is performed, owners of fuel lines or underground facilities adjacent to the work and more.
The variety of projects that come to us for insurance includes work in open spaces such as solar field development insurance or energy facility development insurance, but also projects in the bustling urban space such as energy infrastructure renewal in cities and councils.
Energy Infrastructure Development Insurance for Contractors
At Itzick Simon Agency, energy infrastructure development insurance for contractors is based on meticulous planning and close characterization of the risks facing the project.
Whether it's energy infrastructure insurance for construction companies or insurance for entrepreneurs or any other relevant entity. At Itzhak Simon Agency, energy infrastructure development insurance for contractors is based on meticulous planning and close characterization of the risks facing the project.
Whether it's energy infrastructure insurance for construction companies or insurance for entrepreneurs or any other relevant entity. The insurance is arranged so that it also meets tender requirements.
Property insurance for energy infrastructure contractors
When arranging property and casualty insurance for energy infrastructure contractors, we must remember that these are complex and high-risk projects in which any damage is major damage.
We provide a comprehensive solution that includes property insurance for heavy equipment, insurance for expensive equipment and accessories, and a policy that provides a framework for property and liability insurance in adequate amounts.
Third-party insurance for energy infrastructure contractors
Projects to build or renew energy infrastructure can cause serious damage to third parties. Both physical damage (for example, as a result of an explosion) and indirect damage, such as damage to existing transportation routes during the project.
It is important to purchase third-party insurance for energy infrastructure contractors that provides coverage with minimal limitations and maximum insurance amounts. That is, contractor insurance that also takes into account unexpected events and includes them as part of the considerations when drafting the policy.
Employers' liability insurance for energy infrastructure contractors
Drafting a policy for insurance of energy infrastructure projects must take into account the high risk to workers resulting from working with and around flammable, toxic, and hazardous materials. This is in addition to the usual risks that characterize infrastructure work and the unfortunate connection between the construction industry and work accidents.
At the Itzick Simon Insurance Agency, we see the insured's human capital as the most valuable resource and ensure this with employers' liability insurance for energy infrastructure contractors that is based on high amounts. Amounts that will provide stable insurance ground in the face of the extensive case law in Israel in the field of tort law in general and issues of work injury on construction sites in particular.
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