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Financiers' Insurance Due Diligence

Ensuring that Project Entities have optimised transfer of insurable project risk, especially residual risks, to the commercial insurance sector is a primary requirement for senior debt providers on project finance transactions.  Established in 1995, Marsh's dedicated London-based Financiers' Insurance Due Diligence team is able to draw from direct experience of over 400 separate project finance mandates across most sectors and territories, although our main focus is in Europe, the Middle East, Caucasus and all parts of Africa.

Our consultants are considered to be market leading advisers in power and onshore and offshore energy (including energy from waste, offshore and onshore wind, solar, oil and gas, LNG and bio-fuels), transportation infrastructure (including ports, airports and highways), PFI and PPP infrastructure of all types, waste, wastewater, desalination and space and telecommunications related projects.

The wealth of experience and depth of knowledge in our team and our structure, ring-fenced from any transactional activities of the Marsh McLennan, allows us to:

  • provide reliable, credible and proactive consultants to ensure the most efficient insurance risk management and transfer process;
  • ensure the financiers' insurance covenants and obligations contained in the loan and security documentation are meaningful, achievable, realistic and appropriate whilst optimising protection of the financiers' interests;
  • assess borrower's risk transfer programmes from a risk management perspective within an understanding of commerciality that allows us to be informed by precedent but not constrained by it; 
  • effectively audit the Borrower's compliance with the various obligations and undertakings of the loan and security documentation and provide reasonable and prudent recommendations when faced with non compliant aspects or significant insurance market volatility predicated on a meaningful understanding of the project's risk profile and the ability of the special purpose vehicle to withstand the financial consequences of any shortfalls in protection

The success of our approach is witnessed by our credential lists (available on request) and the Project Finance teams and ECAs that consistently seek our services on both pre and post financial close mandates, including numerous portfolio financings and re-financings.

 

The service we offer includes:

  • Contractual Review - we review the liability, force majeure and insurance provisions of the project documentation to ensure the optimal insurance regime;
  • Project Risk review to identify the insurable and uninsurable risks exposures faced by the project and understand their potential impact on cashflows
  • advising on premium volatility, future uninsurability and market availability provisions;
  • advice on risk transfer options within traditional and non-traditional markets;
  • liaison with legal, technical, and other advisers to the financiers and the project company;
  • comprehensive and meaningful interim and financial close reports;
  • help to prepare information memoranda, provide syndication reports and syndication presentations;
  • syndication - we can assist with information memoranda and speak at presentations

 

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Marsh Ireland Brokers Limited, trading as Marsh Ireland, Bowring Marsh, Charity Insurance, Echelon Claims Consultants, Guy Carpenter & Company, ILCS, Insolutions, JLT Ireland, Lloyd & Partners, Marsh Aviation Consulting, Marsh Claims Management Services, Marsh Claims Solutions, Marsh JLT Specialty, Marsh Reclaim, Marsh Risk Consulting, is regulated by the Central Bank of Ireland.. Marsh Ireland Brokers Limited is a private company limited by shares registered in Ireland under company number: 169458. VAT Number IE 6569458D. Registered Office: 25-28 Adelaide Road, Dublin 2, Ireland, D02 RY98.

Directors: T Colraine (British), A J Croft (previously Kehoe), P G Dromgoole (British), J Flahive (British), J C Grogan, P R Howett, C J Lay (British), S P Roche, R I White (British).