Specialist insurance, risk advisory and placement solutions designed to help water utilities strengthen resilience, manage emerging risks and achieve better insurance outcomes.
— INSURANCE AND RISK SOLUTIONS
Water Utilities
Delivering optimised risk and insurance outcomes for water utilities
Insurance has become a strategic issue for the sector, not simply a procurement exercise. Here’s how
leading water utilities are turning today’s favourable market into lasting programme resilience.
Australian water utilities are operating in the most favourable insurance market seen in a decade.
Increased insurer appetite, expanding capacity and stronger competition have created genuine opportunities for
organisations willing to challenge the status quo. At the same time, the sector continues to face an increasingly complex risk landscape.
Water utilities are being asked to insure ageing infrastructure whilst delivering record levels of capital investment. Climate driven weather volatility continues to reshape property exposures, environmental liabilities are receiving greater underwriting scrutiny, and insurers are legitimately differentiating between organisations that actively manage their insurance strategy and those that simply renew existing programs.
The result is a widening gap between water utility organisations that are achieving sustained reductions in
Total Cost of Risk and those possessing insurance programs that are relatively static and void of strategic insight.
We work with utilities to build long-term insurance strategies that improve programme resilience and strengthen
insurer competition to deliver market leading outcomes where we can help optimise total cost of risk.
Insurance programmes built for every stage of the cycle
Lockton partners with water utilities to deliver lasting value through market-leading service, insurance programme optimisation, claims advocacy, strategic market engagement, and innovative risk financing solutions.
Insurance markets will continue to evolve, presenting both opportunity and threat. We are focused on capturing the opportunity and proactively addressing foreseen challenges to ensure the insurance programs of our clients are always cost effective, resilient and aligned with the long-term objectives of the organisation, regardless of market cycle.
The team have delivered exceptional value. Their deep industry expertise, proactive approach and ability to work as a cohesive team resulted in cost savings across our insurance program, far exceeding our expectations.
Victorian Water Corporations
Our claims advocacy goes beyond settlement outcomes, using insights from every major claim to strengthen programme design, risk transfer and contract certainty.
Reserve best in industry loss assessors, adjustors and industry experts for our clients
Drive favourable coverage positions early through effective insurer engagement and escalation
Minimise unnecessary disputes through evidentiary narrative
Proactively negotiate interim payments at every possible opportunity
Actively monitor claims and escalate issues to senior insurer decision-makers
