1、Meeting the challenges of the new risk landscapePower Market ReviewSeptember 2022TABLE OF CONTENTSIntroduction 01Part One:meeting the challenges of the new risk landscape 02Four global challenges:risk implications for the power sector 03Risk modelling:how to embrace these disorderly transitions 18Ph

2、ysical and transition risk:the holy grail of investing in the future 26Investing policies and sustainability success:the role of investors in the energy transition 30Climate change:potential liabilities for directors 36Geopolitical crises:their impact and management 40Property valuations:time for a

3、reset?44Gas turbine power plants:hydrogen ready?48Part Two:the Power insurance markets in 2022 52CV Starrs James Johnson:underwriting a balanced Power portfolio 53International Property:uncertainty continues as insurers hold firm on pricing 60International Liabilities:competing pressures sustaining

4、market momentum 68International Construction:hardening market dynamic continues 72Regional market round-up:uncertainties remain 75Market capacity figures The figures quoted in this Review are obtained from individual insurers as part of an annual review conducted in January each year.They are solici

5、ted from the insurance markets on the basis of securing their maximum theoretical capacity in US$for any one risk.Although of course this capacity is offered to all buyers and their brokers,the individual capacity figures for each insurer provided to us are confidential and remain the intellectual p

6、roperty of WTW.WTW Energy Loss DatabaseLoss figures quoted in Part Two of the Review are from our WTW Energy Loss Database as well as additional market sources.We obtain loss figures for this database from a variety of market sources(including a range of loss adjusters),but we are unable to obtain f