Management Consulting

A large offshore wind farm developer in Northern Europe faced multiple challenges, including the need to renegotiate a debt finance agreement, construction and supply contracts, and resubmit the project to the insurance market. Concerned about the fragmented approach of their previous broker, the client sought Aon's expertise for a more comprehensive solution. Aon conducted a detailed risk scenario analysis and benchmarked the existing insurance arrangements, revealing that the proposed policy was overpriced and had significant coverage gaps. By addressing these intertwined issues simultaneously, Aon crafted a bespoke insurance program that not only filled the coverage gaps but also saved the client millions of dollars. Additionally, Aon has been providing a survey program for the client's portfolio of gas transmission, power transmission, and power generation assets across several countries. This program involves annual risk surveys and asset valuations, with a proposed visit schedule designed to maximize efficiency and expertise. Aon's ability to deliver all services through a single point of contact has streamlined the process and facilitated the sharing of best practices across different locations. In another instance, a UK-based renewables fund encountered challenges while negotiating the acquisition of several wind farms, particularly due to the seller's refusal to provide post-closing recourse for warranty breaches. Aon successfully placed Warranty & Indemnity insurance, which allowed the transaction to proceed smoothly. Furthermore, Aon secured non-payment credit insurance for a leading European energy supplier, addressing significant exposure to buyers and enabling a 12-month revolving coverage for long-term supply contracts. Aon also assisted a large power company with multiple offices across EMEA in modernizing its employee benefits administration. By redesigning the benefits package and implementing technology to automate health and benefits functions, Aon improved the administration process for thousands of employees. Additionally, Aon helped a global client quantify their cyber exposures through a detailed analysis of their complex IT network, ultimately securing over USD 200 million in cyber coverage and identifying vulnerable areas that required further protection.