Munich Re News

Boeing Crashes Leave $450 Million Bill for European Insurers

Europe’s biggest insurers are on the hook for as much as $450 million from a pair of airline crashes involving Boeing Co. 737 Max planes. Munich Re reckons it could pay 150 million euros ($168 million), an estimate that Chief …

Ethiopian Crash Could be Largest Non-War Aviation Reinsurance Claim: Willis Re

LONDON — Liability claims related to the Ethiopian Airlines crash and the grounding of Boeing 737 MAX 8 aircraft could be the largest non-war aviation reinsurance claim on record, hitting reinsurers’ profitability, reinsurance broker Willis Re said. The crash of …

People News: Munich Re, Crawford & Company, IFG

Munich Re, US Appoints Kerner CEO of New Munich Re Specialty Insurance Unit Munich Reinsurance America, Inc. (Munich Re, US) announced today the appointment of Michael Kerner as chief executive officer for Munich Re Specialty Insurance, a new commercial insurance …

Business News: Munich Re, LexisNexis Risk Solutions, Independent Life Assignment Company

Munich Re Introduces Smart Mobility Program to Reduce Auto Fleet Collisions Munich Reinsurance America, Inc. unveiled its Smart Mobility Program offering a toolbox of solutions to address the complex issues surrounding commercial auto losses and to help reduce or avoid …

Business News: JLT Specialty USA, Betterview, The Institutes, CapSpecialty

JLT Specialty USA, a U.S. subsidiary of Jardine Lloyd Thompson Group plc., a global specialist risk advisor and broker, announced the company has chosen Chicago as its U.S. headquarters. The Chicago office is located at 225 West Wacker on the …

HSB Survey: Half of U.S. Businesses Have Been Hacked

More than half of U.S. businesses (53 percent) have experienced a cyber attack in the past year, according to a survey of business executives released today by The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re. …

Insurers Downgrade Anticipated Profit Goals Amid Hurricane Losses

Allstate expects insurance losses of about $593 million in August after Hurricane Harvey left a path of destruction along the Gulf Coast. The initial accounting Thursday follows warnings from other insurers that are tallying the damages from a hurricane season …

Risk Managers’ Top Concern is Privacy When it Comes to Using Drones

When it comes to commercial drones usage, 61 percent of risk managers are concerned about the potential for invasion of privacy, according to a 2017 survey conducted by Munich Reinsurance America, Inc. (Munich Re, US) during the Risk Management Society …

Severe Storms Dominate First Half of 2017, Cause $41B in Large Losses

A series of hailstorms and tornadoes in the U.S. dominated the natural catastrophe statistics in the first half of 2017, according to Munich RE. A total of six severe, large-scale thunderstorms were recorded, each causing billions of dollars of losses. …

Munich Re Tornado Virtual Reality Experience Shows Need for Resilient Homes

Munich Reinsurance America, Inc. has developed an immersive Tornado Virtual Reality Experience to help people and businesses understand the devastation wrought by a tornado and the need to embrace resiliency to help reduce future property losses and save lives, all …