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Energy and Power Generation Risk Management

Mitigate risks at your facilities

ABOUT ENERGY AND POWER GENERATION HAZARDS

From wind farms, to mines, to nuclear power plants, and utility stations, the energy industry’s performance is critical to global infrastructure and daily life. Due to the critical dependence on energy, it is imperative to proactively recognize and manage risks before they happen or mitigate damage if an event does occur.

  • Fire and explosion hazards
  • Safety risks
  • Distributed power generation
  • Market changes
  • Industrial Internet of Things
  • Cyber attacks
  • Regulatory changes
  • Natural hazards and global warming
  • Supply chain and business continuity risks

EXPERTISE IN ENERGY RISK MITIGATION

In addition to the experiences gained by working closely with our clients, TÜV SÜD Global Risk Consultants (GRC) staff work to identify the unique hazards and challenges faced within the industry and develop cost effective solutions to manage risk.

TÜV SÜD GRC is familiar with inherent risk associated within the energy and power generation industry and maintains this knowledge through interactions with clients and conferences. TÜV SÜD GRC is involved with the following professional organizations:

  • ASME Power Conference
  • Combined Cycle User Groups
  • Doble Engineering Technical Conference
  • Insurance Carrier Risk Control Workshops
  • EEI Fire Protection Task Group
  • Maintenance & Reliability Seminar
  • OEM Workshops and User Groups
  • POWER-GEN International
  • PRB Coal Users Group
  • Electrical Power Conference

A PORTFOLIO OF SERVICES FOR ENERGY AND POWER GENERATION INDUSTRY RISKS

The continuous education and training undertaken by TÜV SÜD GRC’s dedicated staff is critical in maintaining the qualifications necessary to perform high-quality loss control surveys and consulting. TÜV SÜD GRC has individuals who provide unique resources to help clients meet corporate loss prevention goals:

Electrical Supply and Reliability: We have electrical specialists with the expertise to assist clients at facilities where improvements to electrical supply reliability and quality are desired

Electrical Safety Training: Courses of instruction are available and intended to familiarize attendees with specific hazards associated with electrical energy, shock and arc-flash hazard boundaries. Included in this is instruction on the decision-making process necessary to determine the degree and extent of the hazard and the personal protective equipment (PPE) required as specified by NFPA 70E, “Standard for Electrical Safety in the Workplace”

Business Continuity Planning: Identifying business interruption risk, quantifying the potential impact to your company, developing mitigation strategies, and preplanning for a disaster are the keys to risk management. Our experts will use our knowledge of your company, industry, equipment, production bottlenecks, and exposures as the key components of the BCP process and work to help you foresee and mitigate market and supply chain risks.

Fire Protection Engineering: Managing fire and explosion risks is a critical component of any property risk management program for protecting personnel, facility assets, supply chain and market share. Our engineers and account managers work with the client to learn more about their unique businesses and needs. Each fire protection program is uniquely tailored to the client’s facilities, safety protocols, employees, and specific industry standards and product compliance needs.

Natural Hazards Analysis: Natural hazards are also a key area of concern for the energy and power generation industries as some facilities are in areas with known windstorm, earthquake, or flood exposures. TÜV SÜD GRC can not only provide detailed analysis of the exposures, but also offer engineered solutions.

Smart factories: After industry automation, innovative technologies, such as smart robots, machine learning, additive manufacturing and Internet of Things (IoT), platforms are now ready for deployment in the industrial space where physical and digital production means are converging towards cyber-physical systems. While these innovations can invite new risks such as cyber threats, implementing the Smart Industry Readiness Index serves as a guide for companies looking to start on their digital transformation.

Accurate Property Values: Ascertaining accurate values for your facilities and contents are critical to finding the right insurance program and premium for your needs. Due to the power generation industry’s unique needs, our experts are on hand to provide specific and customized guidance and are knowledgeable in the equipment and occupancies related to your industries.

YOUR TRUSTED INDUSTRY ADVISOR

TÜV SÜD Global Risk Consultants (GRC) is the leading unbundled property loss control provider worldwide, offering a complete portfolio of risk management solutions, including operational, natural hazard and business continuity planning. With a focus on developing long-term partnerships, TÜV SÜD GRC provides innovative solutions to help our clients continuously reduce the risk to their business.

TÜV SÜD GRC’s approach to providing risk control services incorporates a formal team structure, ensuring established goals are met as well as effectively addressing local and corporate needs.

The team is supervised by an Account Service Leader, who provides a single point of contact, and Technical Account Engineers. The Power Generation and Energy Industry is a main area of focus for TÜV SÜD GRC, and developments in this industry are overseen by an internal focus group who are dedicated to providing the best solutions for your business.

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