Corporate Insurance Partner - Engineering project risks

Normal view (turn off text only mode)
You are here:

Rule Engine - Munich Re

Engineering project risks

Large-scale engineering projects, such as roads, bridges, tunnels, airports, seaports, hydropower plants, dams or mines, call for specialized technical and insurance knowledge. Corporate Insurance Partner offers both comprehensive insurance solutions and qualified teams.

Engineering risks extend from construction projects to operational power – there is no "one size fits all" insurance product. We develop customized risk transfer solutions to respond to complex demands and enable industry clients to realize their objectives.

Our global approach is based on highly specialized engineering and construction expertise, backed by financial capacity and underwriting excellence.

5 reasons you should consider talking to us:

1. You need a specific engineering insurance solution for the construction/erection phase of a technically ambitious project.

At Corporate Insurance Partner, our approach is to combine broker-driven and direct engineering business activities. Our focus is on construction and erection projects, such as roads, bridges, tunnels, mines, chemical plants, refineries and every type of power generation plant.

We offer comprehensive engineering insurance solutions, such as CAR, EAR and DSU. While your projects might be complex ones, involving financial and technical challenges, we will ensure things run smoothly as possible. Rely on one contact partner, one business approach and one underwriting philosophy.

Find a customized engineering solution that is fit for purpose: Talk to us.

2. You want to talk to insurance experts that understand the specifics of your engineering project in technical depth.

At Corporate Insurance Partner, we walk the walk: Most of our 30 engineering experts have worked as engineers in the field. Based on their practical experience and insurance knowledge, they understand the language of your technical experts, project managers and the construction workers on site. This is an invaluable asset, since our experts know to ask the right questions and know how and what to look for to mitigate risks – before they can slow down your project or increase costs.

In addition, you can benefit from the expertise of Munich Re's worldwide (multilingual) engineering network. Using such synergies means better consulting and support for your projects.

Commence a dialogue with an expert who understands what you need: Talk to us.

3. You want a partner on the insurance side you can rely on in the long term.

Our approach is backed by outstanding financial capacity and demonstrated excellence. We write and retain lead lines, and have low employee turnover. This means that our clients can benefit from both financial resources and human capital. Our company history of over 130 successful years clearly demonstrates our ability to withstand critical financial phases.

Make sure you work with a long-term insurance partner: Talk to us.

4. You need active risk management advice during construction.

During construction projects, owners and insurers have one mutual motivation: to keep the project duration and costs as planned. As we all know, this can be quite challenging because construction projects are complex and many technical details can delay projects and inflate costs.

Since our experienced staff may have dealt with similar projects in other parts of the world, this knowledge on the site often helps to mitigate risks before damage can occur. Our experienced risk experts accompany your risk management and help you achieve your project goals with in-house and external risk engineers.

Mitigate risks before they happen: Talk to us.

5. You want our underwriters to support you with potential claims settlement.

We are fully behind you — even should the worst come to the worst: Our underwriters always stay in charge of their account and are part of potential claims settlements. Their technical expertise and our overview of other cases can prove invaluable in settling your claims.

Rely on our claims settlement expertise: Talk to us.

Overview

We provide proportional and non-proportional insurance covers for projects contractors and owners. By adapting and combining engineering insurance products, we develop high-performance solutions for the most complex and demanding risks.

Depending on our clients’ needs, we can offer additional covers and services, such as nat cat assessment in cooperation with the Munich Re Geo Risks Research unit.
Coverages:
  • Construction and Erection All Risk
  • Delay in start-up insurance
  • Liability
  • Civil Engineering Completed Risks
  • iTWO Project Cost Insurance
Services:
  • Infrastructure Risk Profiler
  • Risk management and risk assessments
  • Technical information and product-oriented exposés
  • Claims management
  • Engineering seminars for clients, held at our headquarters in Munich and/or at our branch offices around the world
Industries covered:
  • Civil engineering and infrastructure projects (roads, motorways, tunnels, bridges, dams, industrial and commercial buildings, high-rise buildings, harbours, airports, wet works, mining construction)
  • Oil and gas industry (refineries, petrochemical plants, LPG/LNG plants and terminals)
  • Chemical industry (chemical plants, fertilizers)
  • Semiconductor plants
  • Mechanical engineering and industrial processing (metalworking, car manufacturers)
  • Cement plants

Please contact us to discuss your specific situation. We look forward to discussing with you a solution that is tailored to your risk situation.

Insurance solutions for the power and utilities sector

Discover our risk transfer solutions and services for power plants and other utilities.

ITWO Project Cost Insurance

With our insurance solution your construction project will remain within budget. The ITbased concept provides cover for additional costs.

Infrastructure Risk Profiler

One Cat

Oliver Quast

One Cat: Comprehensive and rapid response to natural catastrophes

Contact

Swen Vetters


Main Navigation
Service Men
Accessibility

Note


This publication is available exclusively to Munich Re clients. Please contact your Client Manager.