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In addition to a rise in major incidents, power organisations also face growing challenges from an aging workforce, deteriorating equipment, a growing demand for electricity – especially from emerging economies, environmental regulation, and the rise of renewable energy.Philippe Du Four, Chairman of Marsh’s Global Power Practice, commented: “Insurers are reconsidering their stance on pricing and conditions for the global power industry following sustained heavy losses arising from machinery breakdown, fire and explosion, natural perils and associated business interruption. Improving risk management techniques to reduce claims frequency and costs should be a business imperative for power organisations.”