Covers Target Power Industry Outages

“Insurance is power” isn’t a phrase that’s spoken very often. But with an insurance policy that looks likes an alternative to a commodity price hedge, ACE USA is not only protecting power utilities against swings in electricity prices, but also is delivering generating power to utilities when they need itwhen outages occur.

The physical delivery of power is a recent enhancement to an electricity price-protection insurance product that’s been around since 1998, according to Patricia Toner, vice president of ACE USA in Philadelphia. In that short timeframe, ACE’s PowerBacker has grown to protect roughly 10 percent of the total U.S. power-generating supplycovering 70,000 megawatts last year, she reported.

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