Aon, GrECo, Marsh & Smartt Re to support PEJ for Poland’s first nuclear project

Four brokerage firms, Aon Polska, GrECo Polska, Marsh, and Smartt Re, are to support Poland’s state-owned SPV Polskie Elektrownie Jadrowe (PEJ) in the purchase of insurance for the country’s first nuclear project in Pomerania, among other operations.

The brokers selected by PEJ will handle the company’s insurance services and arranging insurance contracts related to the nuclear power plant construction at the Lubiatowo-Kopalino site in the Choczewo municipality.

PEJ has established framework agreements with each of the brokers, allowing the company to choose the specific broker for individual insurance policies as required.

Wojciech Rosinski, PEJ’s CFO, said: “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

“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.”

By implementing the Owner Controlled Insurance Program, an investor-controlled insurance program consisting in the conclusion of insurance contracts on its own, PEJ will directly manage costs and maximise the potential of the Polish insurance market.

The first insurance contract for the nuclear project will be arranged for the purpose of concluding the EPC contract and will cover general liability and professional liability of the designer.

Additional insurance agreements will be arranged as work progresses.

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