Polskie Elektrownie Jądrowe (PEJ), the investor in the nuclear project in the Choczewo Commune, has selected four brokerage firms with which it has concluded framework agreements. The selected brokers – Aon Polska Sp. z o.o., GrECo Polska Sp. z o.o., Marsh Sp. z o.o. and Smartt Re sp. z o.o. – will support PEJ in the purchase of insurance for the project to build Poland’s first nuclear power plant.
This is a first-of-a-kind project in Poland, not only in terms of the investment type, but also in terms of its value and schedule. Providing insurance for such a large-scale project is a very demanding challenge, which is why we wanted to engage with companies experienced in handling insurance against the largest construction risks and contracts for the highest insurance sums.
The brokers selected by PEJ will be responsible for providing the company with insurance for its day-to-day operations and for arranging insurance contracts related to the delivery of the nuclear power plant project at the Lubiatowo-Kopalino site. A framework agreement has been concluded with each broker, based on which Polskie Elektrownie Jądrowe will select a broker for individual insurance coverages.
PEJ is implementing an Owner Controlled Insurance Program, consisting in concluding insurance contracts by the owner itself. This will ensure that insurance costs are controlled and the potential of the Polish insurance market can be realized.
In the course of the procedure, interested companies had to demonstrate relevant knowledge and experience in the implementation of insurance contracts, similar to the specifics and needs of the project executed in the Choczewo Commune. An important selection criterion was the requirement of having a continuous business presence in Poland for minimum 10 years and professional liability insurance with a sufficiently high guarantee amount.
The first insurance contracts for the project to build the nuclear power plant in Pomerania will be arranged in preparation for the conclusion of the EPC contract and will cover general liability and the designer’s professional liability. Subsequent contracts will be concluded as the work progresses.
