Reinsurance

Munich Re's operative reinsurance divisions have many very different ways of exerting a positive influence on the environmental aspects linked to the risks they assume. This can be done by providing advice and services or by designing appropriate contracts and products.

A reinsurer's business is, in simple terms, "insuring primary insurance companies". The risks the reinsurer assumes from the primary insurer may be reinsured individually, e.g. a large passenger ship, a space risk, machinery insurance for a power plant, or life or accident insurance with a high sum insured. Or they may be reinsured en bloc, i.e. the reinsurance company accepts a share in a large number of individual risks.

Owing to the differences between the various lines of business, the specific measures to be adopted have to be defined for each separate line and in the light of the respective market environment.

Here are a few examples geared to the reinsurance process:

Marketing, acquisition

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  Support for insurers that develop insurance products to promote ecologically beneficial activities (e.g. promoting renewable energies);
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  Integration of environmental aspects in seminars for clients and staff and in publications for clients, staff, and the general public;
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  Public relations: position papers, specialist articles, expert reports, attendance at conferences.

Underwriting

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  Standardised evaluation of environmental risks (based on the relevant technical regulations and international standards);
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  Contract design (conditions, deductibles, exclusions, claims cooperation).

Claims handling

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  Flowback of findings from loss analyses for future loss prevention;
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  Consideration of ecological criteria in the selection of loss minimisation measures.