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BongSung 2Hydro Power PlantGlobal Power SpecialtySong Bong 2Hydro Power PlantAugust 25, 2010Aon Vietnam

John Nolan, Daniel Busuttil, Fareed Imadi PMI AGC Energy forum, DMS Debates, Kuwait City 12 June 2011

Why a Contractor Controlled Insurance Programme1

Globally there are many different types of contract. Our comments are based upon the EPC type contract which is commonly used in Kuwait. 2The Aon Global Power Specialty group brings together over 200 power and utility specialists from around the world in one dedicated team coordinated by leaders in all key regions.Led by the Global Power Specialty CEO, our team of professionals offers global, industry specific multi line insurance brokerage, client service, loss control, claims advocacy and management services. We also work closely with colleagues specialising in risk mapping and strategic risk consulting to assess your total risk profile.Our clients range from the worlds largest multinational power companies to small local utilities and our flexible service model can be tailored to your specific requirements.We have worldwide expertise in all types of generation from fossil fuels, gas turbine technologies, nuclear and renewable energy such as on and off shore wind, tidal and solar as well as electric and gas transmission and distribution companies.Global Leverage. We place over US$500m premium into the global markets annually and using this leverage alongside our superior technical knowledge, expertise and coordination within the global brokerage ring main we are able to negotiate the best pricing and coverage for our clients. We place insurances for over 1million MW installed capacity worldwideWe are constantly monitoring the changing requirements of the industry, such as regulatory and environmental challenges, and developing innovative new solutions to meet these needs. We offer credit wraps and weather derivatives as well as many other bespoke and unique products.

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Contractor will have existing insurance programmes;Workers Compensation;Employers Liability;Plant and Equipment;Professional Indemnity;

Etc. Etc. 3The Aon Global Power Specialty group brings together over 200 power and utility specialists from around the world in one dedicated team coordinated by leaders in all key regions.Led by the Global Power Specialty CEO, our team of professionals offers global, industry specific multi line insurance brokerage, client service, loss control, claims advocacy and management services. We also work closely with colleagues specialising in risk mapping and strategic risk consulting to assess your total risk profile.Our clients range from the worlds largest multinational power companies to small local utilities and our flexible service model can be tailored to your specific requirements.We have worldwide expertise in all types of generation from fossil fuels, gas turbine technologies, nuclear and renewable energy such as on and off shore wind, tidal and solar as well as electric and gas transmission and distribution companies.Global Leverage. We place over US$500m premium into the global markets annually and using this leverage alongside our superior technical knowledge, expertise and coordination within the global brokerage ring main we are able to negotiate the best pricing and coverage for our clients. We place insurances for over 1million MW installed capacity worldwideWe are constantly monitoring the changing requirements of the industry, such as regulatory and environmental challenges, and developing innovative new solutions to meet these needs. We offer credit wraps and weather derivatives as well as many other bespoke and unique products.

3Contractors frequently have global Insurance programmes, which may provide them with preferential terms of cover and cost over a single Project insurance policy.

Contractors frequently have global Insurance programmes, which may provide them with preferential terms of cover and cost over a single Project insurance policy. 4The Aon Global Power Specialty group brings together over 200 power and utility specialists from around the world in one dedicated team coordinated by leaders in all key regions.Led by the Global Power Specialty CEO, our team of professionals offers global, industry specific multi line insurance brokerage, client service, loss control, claims advocacy and management services. We also work closely with colleagues specialising in risk mapping and strategic risk consulting to assess your total risk profile.Our clients range from the worlds largest multinational power companies to small local utilities and our flexible service model can be tailored to your specific requirements.We have worldwide expertise in all types of generation from fossil fuels, gas turbine technologies, nuclear and renewable energy such as on and off shore wind, tidal and solar as well as electric and gas transmission and distribution companies.Global Leverage. We place over US$500m premium into the global markets annually and using this leverage alongside our superior technical knowledge, expertise and coordination within the global brokerage ring main we are able to negotiate the best pricing and coverage for our clients. We place insurances for over 1million MW installed capacity worldwideWe are constantly monitoring the changing requirements of the industry, such as regulatory and environmental challenges, and developing innovative new solutions to meet these needs. We offer credit wraps and weather derivatives as well as many other bespoke and unique products.

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Contractors may have flexibility in their insurance programmes since those programmes are often arranged on a worldwide basis covering all of the Contractors projects. 5The Aon Global Power Specialty group brings together over 200 power and utility specialists from around the world in one dedicated team coordinated by leaders in all key regions.Led by the Global Power Specialty CEO, our team of professionals offers global, industry specific multi line insurance brokerage, client service, loss control, claims advocacy and management services. We also work closely with colleagues specialising in risk mapping and strategic risk consulting to assess your total risk profile.Our clients range from the worlds largest multinational power companies to small local utilities and our flexible service model can be tailored to your specific requirements.We have worldwide expertise in all types of generation from fossil fuels, gas turbine technologies, nuclear and renewable energy such as on and off shore wind, tidal and solar as well as electric and gas transmission and distribution companies.Global Leverage. We place over US$500m premium into the global markets annually and using this leverage alongside our superior technical knowledge, expertise and coordination within the global brokerage ring main we are able to negotiate the best pricing and coverage for our clients. We place insurances for over 1million MW installed capacity worldwideWe are constantly monitoring the changing requirements of the industry, such as regulatory and environmental challenges, and developing innovative new solutions to meet these needs. We offer credit wraps and weather derivatives as well as many other bespoke and unique products.

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Contractor is the one to build the project, and control the risks on a day- to-day basis. Contractor generally has Care of Works by contract Irrespective of any insurance. If I cannot procure the insurance I cannot adequately address these risks. 6The Aon Global Power Specialty group brings together over 200 power and utility specialists from around the world in one dedicated team coordinated by leaders in all key regions.Led by the Global Power Specialty CEO, our team of professionals offers global, industry specific multi line insurance brokerage, client service, loss control, claims advocacy and management services. We also work closely with colleagues specialising in risk mapping and strategic risk consulting to assess your total risk profile.Our clients range from the worlds largest multinational power companies to small local utilities and our flexible service model can be tailored to your specific requirements.We have worldwide expertise in all types of generation from fossil fuels, gas turbine technologies, nuclear and renewable energy such as on and off shore wind, tidal and solar as well as electric and gas transmission and distribution companies.Global Leverage. We place over US$500m premium into the global markets annually and using this leverage alongside our superior technical knowledge, expertise and coordination within the global brokerage ring main we are able to negotiate the best pricing and coverage for our clients. We place insurances for over 1million MW installed capacity worldwideWe are constantly monitoring the changing requirements of the industry, such as regulatory and environmental challenges, and developing innovative new solutions to meet these needs. We offer credit wraps and weather derivatives as well as many other bespoke and unique products.

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Contractor is in the construction business on a day- to-day basis. Owner is probably not. Contractor knows what he is doing during construction Owner probably doesnt. 7The Aon Global Power Specialty group brings together over 200 power and utility specialists from around the world in one dedicated team coordinated by leaders in all key regions.Led by the Global Power Specialty CEO, our team of professionals offers global, industry specific multi line insurance brokerage, client service, loss control, claims advocacy and management services. We also work closely with colleagues specialising in risk mapping and strategic risk consulting to assess your total risk profile.Our clients range from the worlds largest multinational power companies to small local utilities and our flexible service model can be tailored to your specific requirements.We have worldwide expertise in all types of generation from fossil fuels, gas turbine technologies, nuclear and renewable energy such as on and off shore wind, tidal and solar as well as electric and gas transmission and distribution companies.Global Leverage. We place over US$500m premium into the global markets annually and using this leverage alongside our superior technical knowledge, expertise and coordination within the global brokerage ring main we are able to negotiate the best pricing and coverage for our clients. We place insurances for over 1million MW installed capacity worldwideWe are constantly monitoring the changing requirements of the industry, such as regulatory and environmental challenges, and developing innovative new solutions to meet these needs. We offer credit wraps and weather derivatives as well as many other bespoke and unique products.

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Contractor has full project information including method statements and can therefore provide better information to Insurers. 8

Contractor has responsibility for deductible and non-insured items anyway (by contract) Let me decide how much I want to insure those risks and how much I want to assume them. 9The Aon Global Power Specialty group brings together over 200 power and utility specialists from around the world in one dedicated team coordinated by leaders in all key regions.Led by the Global Power Specialty CEO, our team of professionals offers global, industry specific multi line insurance brokerage, client service, loss control, claims advocacy and management services. We also work closely with colleagues specialising in risk mapping and strategic risk consulting to assess your total risk profile.Our clients range from the worlds largest multinational power companies to small local utilities and our flexible service model can be tailored to your specific requirements.We have worldwide expertise in all types of generation from fossil fuels, gas turbine technologies, nuclear and renewable energy such as on and off shore wind, tidal and solar as well as electric and gas transmission and distribution companies.Global Leverage. We place over US$500m premium into the global markets annually and using this leverage alongside our superior technical knowledge, expertise and coordination within the global brokerage ring main we are able to negotiate the best pricing and coverage for our clients. We place insurances for over 1million MW installed capacity worldwideWe are constantly monitoring the changing requirements of the industry, such as regulatory and environmental challenges, and developing innovative new solutions to meet these needs. We offer credit wraps and weather derivatives as well as many other bespoke and unique products.

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Contractor will have insurance people/ department handling all insurances its an every day part of my business. Owner will probably not and this maybe his single Project of a Lifetime. 10The Aon Global Power Specialty group brings together over 200 power and utility specialists from around the world in one dedicated team coordinated by leaders in all key regions.Led by the Global Power Specialty CEO, our team of professionals offers global, industry specific multi line insurance brokerage, client service, loss control, claims advocacy and management services. We also work closely with colleagues specialising in risk mapping and strategic risk consulting to assess your total risk profile.Our clients range from the worlds largest multinational power companies to small local utilities and our flexible service model can be tailored to your specific requirements.We have worldwide expertise in all types of generation from fossil fuels, gas turbine technologies, nuclear and renewable energy such as on and off shore wind, tidal and solar as well as electric and gas transmission and distribution companies.Global Leverage. We place over US$500m premium into the global markets annually and using this leverage alongside our superior technical knowledge, expertise and coordination within the global brokerage ring main we are able to negotiate the best pricing and coverage for our clients. We place insurances for over 1million MW installed capacity worldwideWe are constantly monitoring the changing requirements of the industry, such as regulatory and environmental challenges, and developing innovative new solutions to meet these needs. We offer credit wraps and weather derivatives as well as many other bespoke and unique products.

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Contractor will handle and is best placed to handle any insurance claims.

Owner will not.

- Reduced owners administration. 11The Aon Global Power Specialty group brings together over 200 power and utility specialists from around the world in one dedicated team coordinated by leaders in all key regions.Led by the Global Power Specialty CEO, our team of professionals offers global, industry specific multi line insurance brokerage, client service, loss control, claims advocacy and management services. We also work closely with colleagues specialising in risk mapping and strategic risk consulting to assess your total risk profile.Our clients range from the worlds largest multinational power companies to small local utilities and our flexible service model can be tailored to your specific requirements.We have worldwide expertise in all types of generation from fossil fuels, gas turbine technologies, nuclear and renewable energy such as on and off shore wind, tidal and solar as well as electric and gas transmission and distribution companies.Global Leverage. We place over US$500m premium into the global markets annually and using this leverage alongside our superior technical knowledge, expertise and coordination within the global brokerage ring main we are able to negotiate the best pricing and coverage for our clients. We place insurances for over 1million MW installed capacity worldwideWe are constantly monitoring the changing requirements of the industry, such as regulatory and environmental challenges, and developing innovative new solutions to meet these needs. We offer credit wraps and weather derivatives as well as many other bespoke and unique products.

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Contractors will price for Difference in Conditions and Difference in Deductibles Cover if they find an OCIP cover does not meet with their normal standards or expectations increased insurance costs. 12

Contractors believe that their relationships with their usual Insurers and Loss Adjusters will provide them with a better chance of recovery of their costs than from an Insurer they have no relationship with.Contractors will already have some well established Claims Procedures that they would prefer to use rather than being forced to change their usual working practice for this one particular Project. 13

I know what Im doing.

If not why did you engage me?

Dont be a back seat driver 14The Aon Global Power Specialty group brings together over 200 power and utility specialists from around the world in one dedicated team coordinated by leaders in all key regions.Led by the Global Power Specialty CEO, our team of professionals offers global, industry specific multi line insurance brokerage, client service, loss control, claims advocacy and management services. We also work closely with colleagues specialising in risk mapping and strategic risk consulting to assess your total risk profile.Our clients range from the worlds largest multinational power companies to small local utilities and our flexible service model can be tailored to your specific requirements.We have worldwide expertise in all types of generation from fossil fuels, gas turbine technologies, nuclear and renewable energy such as on and off shore wind, tidal and solar as well as electric and gas transmission and distribution companies.Global Leverage. We place over US$500m premium into the global markets annually and using this leverage alongside our superior technical knowledge, expertise and coordination within the global brokerage ring main we are able to negotiate the best pricing and coverage for our clients. We place insurances for over 1million MW installed capacity worldwideWe are constantly monitoring the changing requirements of the industry, such as regulatory and environmental challenges, and developing innovative new solutions to meet these needs. We offer credit wraps and weather derivatives as well as many other bespoke and unique products.

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WORKING WITH CHAMPIONSThe Aon Global Power Specialty group brings together over 200 power and utility specialists from around the world in one dedicated team coordinated by leaders in all key regions.Led by the Global Power Specialty CEO, our team of professionals offers global, industry specific multi line insurance brokerage, client service, loss control, claims advocacy and management services. We also work closely with colleagues specialising in risk mapping and strategic risk consulting to assess your total risk profile.Our clients range from the worlds largest multinational power companies to small local utilities and our flexible service model can be tailored to your specific requirements.We have worldwide expertise in all types of generation from fossil fuels, gas turbine technologies, nuclear and renewable energy such as on and off shore wind, tidal and solar as well as electric and gas transmission and distribution companies.Global Leverage. We place over US$500m premium into the global markets annually and using this leverage alongside our superior technical knowledge, expertise and coordination within the global brokerage ring main we are able to negotiate the best pricing and coverage for our clients. We place insurances for over 1million MW installed capacity worldwideWe are constantly monitoring the changing requirements of the industry, such as regulatory and environmental challenges, and developing innovative new solutions to meet these needs. We offer credit wraps and weather derivatives as well as many other bespoke and unique products.

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