The construction of a nearly $500 million power plant requires a lot of planning, a lot of labor, and a lot of expensive parts—such as four $13 million generators weighing in at 496,000 pounds each for a total weight of over 990 tons. If they don’t arrive on time—and in one piece—hundreds of thousands of dollars could be lost in construction delays.
Liberty International Underwriters (LIU) takes this risk very seriously, which is why we build a Survey Warranty into every Construction policy. With it, we’re alerted prior to movement of any critical items, enabling us to consult with our in-house staff of risk engineers to prevent problems before they start.
So when it came time to move those four generators on one barge, we got the call, and the news that the supplier was changing its plans—it didn’t like the discharge arrangements at the final port and relinquished offload responsibilities. This could cause a short delay, but large costs.
Because LIU shares information across product lines, our marine risk engineers knew about the project and felt comfortable stepping in to offer immediate assistance with lashing and discharge arrangements. They also recommended two barges with two generators on each—a more suitable risk to such precious equipment. Our underwriters stepped in for the final save—adjusting limits to reflect the shipping change.
So while the barge and cranes do the heavy lifting, it’s a team of seasoned underwriters and risk professionals that get the multi-million dollar equipment to its destination on time.