Common causes of large losses in the global power industry : claims perspective

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      <subfield code="a">Common causes of large losses in the global power industry</subfield>
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      <subfield code="a">Drawing upon the many large losses that Marsh has helped to manage since 2004, this report provides insight into the causes  and monetary value  of large losses in the global power industry. Throughout the course of this study, data was gathered on all power accounts handled by Bowring Marsh, Marsh¿s wholesale international placement division, in London. The information presented herein represents 150 claims that have incurred a net loss of more than US$2 million to insurers, net of any applicable deductible, excess, or retention. While this report is based upon claims that have arisen from the power accounts handled by Bowring Marsh, the large number of clients included in this database  allows us to conclude that the losses are generally representative of the sector as a whole. (Note: At the time of printing, some of the claims used in this report were still open, so there may be slight variations when compared to eventual settlement values.) The period of 2004 to 2012 was chosen to help ensure that only the most modern types of equipment and more recent and relevant risk management practices are covered. Along with delivering insight into  the causes and value of large losses in the global power industry, this report aims to help organizations improve their risk management  controls by offering practical guidance on risk mitigation in each relevant area</subfield>
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