PEJ selects four insurance brokers for Poland's first nuclear project in Pomerania
Poland's 100-pecent state-owned SPV Polskie Elektrownie Jadrowe (PEJ), investor of the nuclear power project in the northern part of the country, has selected four brokerage firms and concluded framework agreements with them. Aon Polska, GrECo Polska, Marsh and Smartt Re will support PEJ in the purchase of insurance for, among other things, the project to build Poland's first nuclear power plant.
The brokers selected by PEJ will be responsible for the company's day-to-day insurance services and for arranging insurance contracts related to the nuclear power plant construction project at the Lubiatowo-Kopalino site in the Choczewo municipality (Pomerania region).
A framework agreement has been concluded with each of the brokers, on the basis of which Polskie Elektrownie Jadrowe will select the broker for the individual insurances.
"We are dealing with the first energy project of this type in Poland, not only in terms of the type of investment, but also in terms of value and timing," said PEJ's CFO Wojciech Rosinski.
"Providing insurance for such a large project is a very responsible challenge, which is why we wanted to cooperate with companies experienced in handling insurance for the largest construction risks and contracts with the highest insurance sums," he added.
PEJ is implementing an investor-controlled insurance programme, consisting in the conclusion of insurance contracts on its own - the so-called Owner Controlled Insurance Programme. Such an action will ensure control over insurance costs and enable the potential of the Polish insurance market to be exploited.
The first insurance contracts for the nuclear power plant construction project in Pomerania will be arranged for the purpose of concluding the EPC contract and will cover general liability and professional liability of the designer. Subsequent contracts will be arranged as work progresses.
pr/ ao/
