You May Find This Shocking
Insurers sometimes pay for the same claim over and over
Electrical generation and distribution systems are highly complex. And highly vulnerable.
Storms and floods. Events elsewhere on the grid. Tardy or lax maintenance. Limited budgets. Employee turnover. All can lead to failure.
When things go south, the textbook response is to restore the system to the way it was before. Which is why failures often repeat. The underlying causes aren't addressed.
That's why we look for a way to prevent this from happening again. Whether it’s moving a generator out of a flood path. Changing the maintenance regime. Or upgrading an overlooked piece of equipment.
And that's why we work with underwriters to help them fully understand the issues so they can craft policies that work in risk reduction regimes.
If the way we think sparks ideas of your own, contact James Wheeler at 416.368.1700.