Munich Re and Marsh & McLennan Cos., the largest insurance broker by market value, introduced a product to insure U.S. pharmaceutical companies against regulatory actions that could cause them to suspend manufacturing. The product would cover as much as $10 …
Munich Reinsurance America, Inc. announces a new personal lines inland flood insurance product designed to provide more options for homeowners in low-to-moderate-hazard flood zones. According to the National Flood Insurance Program (NFIP), flood is the most common natural disaster in …
The death toll from natural disasters such as earthquakes, storms and heatwaves rose sharply worldwide in the first six months of 2015, the world’s largest reinsurance company Munich Re said on Tuesday. However, the economic cost of such events dropped …
In fewer than five years, the use of drones (unmanned aerial vehicles – UAVs) could become common practice for almost 40 percent of businesses, say corporate risk managers surveyed by Munich Re. What is the greatest risk of using drones …
Over the past years, persistent extreme weather conditions have triggered severe natural catastrophes and caused losses in the billions. There is a growing number of scientific studies that suggest an increase in quasi-stationary weather patterns and their correlation with the …
Of the 1,000-plus Americans surveyed, 83 percent believe that climate change is occurring. 63 percent are concerned about changes in the frequency and intensity of natural disasters, such as floods, hurricanes, and tornadoes. From a regional perspective, Americans living in …
Germany’s Munich Re and Hannover Re expect stable reinsurance prices in their home market next year, cushioning the blow from a slide in prices on world markets. Munich and Hannover, the world’s largest and third-largest reinsurers respectively, pointed to billions …
Natural catastrophes like floods and storms claimed more than 20,000 lives and caused around $125 billion in damage worldwide in 2013, well below the average of the last decade, reinsurer Munich Re said on Tuesday. The world’s largest reinsurer said …
German reinsurer Munich Re saw its first-quarter net profit fall 33 percent to 543 million euros ($722 million) as losses from floods in central Europe weighed on earnings. The company said Tuesday it paid out 230 million euros in claims …
Natural disasters cost insurers $65 billion last year, with the United States accounting for nine-tenths of the bill and Superstorm Sandy prompting payouts of $25 billion, a leading insurance company said Thursday. However, Munich Re AG said that the total …