https://www.munichre.com/topics-online/en/1422477/index.html Not if, but how en en https://www.munichre.com/site/corporate/resourceCached/14150954972999/templates/img/logo.gif https://www.munichre.com/topics-online/en/1422477/index.html https://www.munichre.com/topics-online/en/2017/12/digital-data-analysis Mon, 18 Dec 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/12/digital-data-analysis 2017-12-18T12:00:00Z https://www.munichre.com/topics-online/en/2017/12/60-years-of-schadenspiegel This year, Schadenspiegel is celebrating its 60th anniversary. It started out in 1957 reporting on losses in the fields of machinery breakdown and erection all risks insurance. Today, the magazine covers a wide range of subjects, from detailed reports on individual loss events to in-depth risk analysis. Tobias Büttner, Head of Claims at Munich Re, talked to two Schadenspiegel veterans, Detmar Heidenhain and Paul Einhell, about the early days of the publication. Mon, 18 Dec 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/12/60-years-of-schadenspiegel 2017-12-18T12:00:00Z https://www.munichre.com/topics-online/en/2017/12/selected-major-losses Mon, 18 Dec 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/12/selected-major-losses 2017-12-18T12:00:00Z https://www.munichre.com/topics-online/en/2017/12/knowledge-networks Munich Re has been analysing natural disaster data for decades, exchanging information on loss drivers and trends with international experts, and transferring the acquired knowledge to our insurance business. In future, this approach used by Geo Risks Research will increasingly be used in further specialist areas of high relevance at the interface between science and business. In the fields of energy, mobility, infrastructure, the Internet of Things and artificial intelligence, for example, Munich Re plans to promote networks with researchers and innovation drivers in industry. The goal is to identify trends to allow the Group to act as a pioneering business partner in the development of risk-transfer solutions and services. Thu, 14 Dec 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/12/knowledge-networks 2017-12-14T12:00:00Z https://www.munichre.com/topics-online/en/2017/12/hurricane-harvey Harvey was the wettest tropical cyclone ever to hit the USA. In parts of Texas, unprecedented flooding occurred. The direct economic losses are likely to be as much as US$ 85bn, which would make Harvey the second-costliest hurricane on record after Katrina. Many private households face a sizeable insurance gap. Fri, 01 Dec 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/12/hurricane-harvey 2017-12-01T12:00:00Z https://www.munichre.com/topics-online/en/2017/12/hurrikan-irma With wind speeds of up to 300 km/h, Hurricane Irma will go down in history as a storm of superlatives. What is more, if its track had shifted only slightly, losses in Florida would have been substantially higher. The unexpectedly low level of damage in the state may also have been due to improved building regulations. Even so, initial estimates put overall losses at US$ 67bn and insured losses at US$ 32bn, making Irma the fourth-costliest hurricane of all time. Fri, 01 Dec 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/12/hurrikan-irma 2017-12-01T12:00:00Z https://www.munichre.com/topics-online/en/2017/12/hurricane-maria Hurricane Maria caused exceptional damage on Puerto Rico and other islands in the Caribbean and was the most destructive natural disaster in history for Dominica. On many islands it took several weeks before the infrastructure for electricity and water supply was operating reasonably efficiently again. Loss estimates proved extremely difficult to arrive at. Fri, 01 Dec 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/12/hurricane-maria 2017-12-01T12:00:00Z https://www.munichre.com/topics-online/en/2017/12/hurricane-season-2017 Within a span of four weeks, the hurricane trio of Harvey, Irma and Maria made the 2017 hurricane season the costliest ever. Overall losses reached around US$ 215bn, according to preliminary estimates, and insured losses are expected to be around US$ 100bn. Fri, 01 Dec 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/12/hurricane-season-2017 2017-12-01T12:00:00Z https://www.munichre.com/topics-online/en/2017/11/climate-protection Munich Re’s Head of Geo Risks Research, Peter Höppe has participated in 14 UN climate summits. Some of these brought disappointment – such as the 2009 Copenhagen Climate Change Conference – while others, such as Paris 2015, were surprisingly constructive. He shares his thoughts with us at the end of the COP23 Climate Change Conference in Bonn – as he approaches the end of his time at Munich Re. Mon, 20 Nov 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/11/climate-protection 2017-11-20T12:00:00Z https://www.munichre.com/topics-online/en/2017/11/green-tech-solutions A specialised unit at Munich Re offers valuable support to the green tech sector, allowing companies in the field of renewable energies and energy efficiency to outsource risks, investors to benefit from greater planning certainty, and start-ups to bring their revolutionary technologies onto the market. Fri, 17 Nov 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/11/green-tech-solutions 2017-11-17T12:00:00Z https://www.munichre.com/topics-online/en/2017/11/digital-transformation The insurance sector in Latin America is growing once again. A variety of significant factors are indicative of a positive development, and the economy is picking up. After hitting a low in 2016, property-casualty insurers can expect to see a notable recovery of premiums in the next few years. At the same time, digitalisation offers significant opportunities to improve efficiency, the portfolio and, in particular, distribution and sales. Thu, 16 Nov 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/11/digital-transformation 2017-11-16T12:00:00Z https://www.munichre.com/topics-online/en/2017/10/equip The threat of enforcement action by a regulator is always on a Pharma Company’s risk radar. EQuIP is the new name for Munich Re’s customised business interruption solution that actively helps companies manage quality, manufacturing and supply chain risks. Wed, 18 Oct 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/10/equip 2017-10-18T12:00:00Z https://www.munichre.com/topics-online/en/2017/10/terrorism-and-political-violence Planned, deliberate, intentional and unpredictable: the very nature of terrorism makes insuring the economic losses it causes extremely challenging. As risk modelling based on past experience is often insufficient, a rudimental basis for underwriting is often hard to develop. The risks associated with terrorism remain at the boundaries of insurability. Terrorism pools and national backstop solutions in cooperation with the (re)insurance industry are key instruments in addressing the threat. Mon, 16 Oct 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/10/terrorism-and-political-violence 2017-10-16T12:00:00Z https://www.munichre.com/topics-online/en/2017/10/wenning-meets-insurtechs The insurance industry is transforming. Joachim Wenning, Munich Re’s CEO, talks to Andy Rear, Chief Executive of Digital Partners (DP) and John-Paul Pieper, CEO of nexible, who both drive innovation from two different angles – DP as a partner for disruptors, and nexible as the first truly digital insurer in Germany. They discuss the role of start-ups – and the opportunities for both start-ups and incumbent insurers – when they join forces in order to innovate insurance. Fri, 13 Oct 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/10/wenning-meets-insurtechs 2017-10-13T12:00:00Z https://www.munichre.com/topics-online/en/2017/10/ceo-comment There was a sliver of hope. Two years ago, heads of state and government from all over the world came together in Paris to forge a climate agreement that would limit global warming to well below two degrees Celsius and bring the consequences of climate change under some degree of control. A mere four weeks before the next climate summit is scheduled to take place in Bonn – it will be chaired by the Fiji Islands, a developing country heavily hit by climate change – the two-degree target now seems more remote than ever. Tue, 10 Oct 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/10/ceo-comment 2017-10-10T12:00:00Z https://www.munichre.com/topics-online/en/2017/10/climate-facts-2017 2017 looks set to be one of the three or four warmest years on record. In fact, for the period up to the end of August, it was ranked the second warmest. Barring any dramatic changes therefore, all 17 years since 2001 will number among the 18 warmest years ever. Scientists are virtually unanimous that this is a clear signal of climate change. Tue, 10 Oct 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/10/climate-facts-2017 2017-10-10T12:00:00Z https://www.munichre.com/topics-online/en/2017/10/climate-change Following weather disasters like those that recently hit parts of the USA and several Caribbean countries, the first question many people ask is: Did climate change play a part in this? Mon, 09 Oct 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/10/climate-change 2017-10-09T12:00:00Z https://www.munichre.com/topics-online/en/2017/09/focus-on-benefit-for-society Natural catastrophes cause much suffering, but also mean large financial losses for the people and economies affected. As many catastrophe losses are not covered by insurance, cooperation between governments and the private sector is becoming increasingly important as a way of closing the insurance gap – especially in emerging countries – and thus supporting sustainable economic development. Mon, 11 Sep 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/09/focus-on-benefit-for-society 2017-09-11T12:00:00Z https://www.munichre.com/topics-online/en/2017/09/capital-partners Since 2015, Munich Re has bundled its expertise and capabilities to originate, analyse and structure prospective and retroactive reinsurance as well as capital market solutions. In this way, we facilitate our clients’ success and address their demands beyond traditional risk transfer solutions in one global unit called Capital Partners. Thomas Blunck, Member of Munich Re’s Board of Management, explains what Capital Partners offers and what makes it so successful. Mon, 11 Sep 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/09/capital-partners 2017-09-11T12:00:00Z https://www.munichre.com/topics-online/en/2017/09/hurricanes-2017 The satellite images were scary: Hurricane Irma, for a long time a Category 5 storm (the highest category), blew across the Caribbean islands towards Florida last week. Just the eye of the storm was larger than many of the islands that Irma hit. Mon, 11 Sep 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/09/hurricanes-2017 2017-09-11T12:00:00Z https://www.munichre.com/topics-online/en/2017/09/ceo-meets-trainees Why is Munich Re an attractive employer for young talents? Joachim Wenning, Munich Re’s CEO, met Carla Havemann and Viktoriia Kniazevich, two trainees starting their careers at Munich Re. They talked about opportunities for personal growth, digitalisation, skill requirements – and how to become a trusted innovation partner for start-ups. Wed, 06 Sep 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/09/ceo-meets-trainees 2017-09-06T12:00:00Z https://www.munichre.com/topics-online/en/2017/07/insurtech-hub-munich The German government has chosen Munich as the location for an InsurTech hub as part of its Digital Hub Initiative. Tom van den Brulle, Global Head of Innovation at Munich Re, explains why Munich is an excellent choice and what our clients can expect. Thu, 20 Jul 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/07/insurtech-hub-munich 2017-07-20T12:00:00Z https://www.munichre.com/topics-online/en/2017/07/natcat-first-half-2017 In the first half of 2017, a series of powerful thunderstorms in the USA caused losses in the billions. The natural catastrophe review to the end of June 2017 was also unusual for another reason: from a global perspective, losses were below average. In fact, overall losses were the lowest for ten years. This was a random outcome as losses fluctuate strongly. An overview. Tue, 18 Jul 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/07/natcat-first-half-2017 2017-07-18T12:00:00Z https://www.munichre.com/topics-online/en/2017/07/digital-trends-construction-industry Delays, cost overruns, uncertain project planning and management – the construction industry is plagued by complexities. With digitalisation, contractors and project owners are able to draw on a growing array of innovative solutions to address these challenges. As promising as these new technologies are, will they really make construction and engineering easier? Mon, 03 Jul 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/07/digital-trends-construction-industry 2017-07-03T12:00:00Z https://www.munichre.com/topics-online/en/2017/06/epidemics-pef The world was unprepared for the Ebola crisis in West Africa in 2014. The international response was too slow in coming, thus failing to avoid a humanitarian and economic disaster for the countries affected. This should not happen again: with the Pandemic Emergency Financing Facility (PEF) launched by the World Bank with the support of Munich Re, Swiss Re and GC Securities, a division of MMC Securities LLC, the global community will have an effective instrument for a swift pandemic response – saving lives and limiting the adverse economic impact. Thu, 29 Jun 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/06/epidemics-pef 2017-06-29T12:00:00Z https://www.munichre.com/topics-online/en/2017/05/epidemic-risk-insurance-saving-lives-protecting-economies While the insurance industry has tended to keep away from epidemic risks in the past, it is now looking at ways to develop valuable solutions for this business field – at the same time strengthening the resilience of companies and societies alike. Thu, 22 Jun 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/05/epidemic-risk-insurance-saving-lives-protecting-economies 2017-06-22T12:00:00Z https://www.munichre.com/topics-online/en/2017/06/warranty-and-indemnity-insurance Business in warranty and indemnity policies (W&I) may be booming, but it is complex and volatile. New analyses have shown that loss ratios are higher than many players in this challenging market think. Fri, 09 Jun 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/06/warranty-and-indemnity-insurance 2017-06-09T12:00:00Z https://www.munichre.com/topics-online/en/2017/05/e-cigarettes The theme for this year’s World No Tobacco Day on 31 May is “Tobacco – a threat to development”. E-cigarettes have long been considered by many to be a safe alternative to tobacco, but in fact they pose a number of serious health risks. Tue, 30 May 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/05/e-cigarettes 2017-05-30T12:00:00Z https://www.munichre.com/topics-online/en/2017/05/artificial-intelligence Artificial intelligence is widely regarded as revolutionary progress. We have already seen the advent of train control systems capable of determining when the next maintenance interval is due. And, in the healthcare segment, apparently there are AI robots that can assist nursing staff in hospitals with providing care to their patients. Of all the technological advances that have sprung up as a result of digitalisation, artificial intelligence is the one that is most likely to revolutionise our operations, production processes and consumer behaviour. Mon, 29 May 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/05/artificial-intelligence 2017-05-29T12:00:00Z https://www.munichre.com/topics-online/en/2017/05/new-silk-road It is both fascinating and at the same time colossal: the New Silk Road project. Under the official project name “One Belt, One Road”, China’s plan is to build closer economic ties between Europe and Asia, and also to strengthen trade links with Africa. It is a sort of modern Silk Road – with an investment of many billions in railway lines, pipelines and ports. This infrastructure could provide a boost for international trade – and also for insurance. Fri, 12 May 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/05/new-silk-road 2017-05-12T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/climate-facts-2016 2016 was the third year in succession in which average global temperatures set new records. As in the previous year, El Niño again played a part in this development, alongside continuing climate change. Thu, 04 May 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/climate-facts-2016 2017-05-04T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/world-map-2016 Thu, 04 May 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/world-map-2016 2017-05-04T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/rapid-attribution Research into extreme weather and climate change is making progress. It is now possible to quickly quantify the degree to which the intensity or frequency of certain events is influenced by man-made climate change. Thu, 04 May 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/rapid-attribution 2017-05-04T12:00:00Z https://www.munichre.com/topics-online/en/2017/04/innovations-create-growth Digitalisation is revolutionising the workplace and the economy. Factories are already using increasingly self-controlled robots, and autonomous lorries and freight trains are no longer a thing of the future. The advantages for business speak for themselves, but the rapid progress achieved over the past 15 years is not yet evident in important economic indicators. However, over time, digitalisation is expected to create significant growth stimulus, as has been the case with past technological advances such as the computerisation of the 1980s and 1990s. Concerns about a secular stagnation, that is to say a phase of long-term negligible economic growth and low interest rates, are therefore likely to be unfounded. Tue, 18 Apr 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/04/innovations-create-growth 2017-04-18T12:00:00Z https://www.munichre.com/topics-online/en/2017/04/predictive-analytics Big data and complex analyses have become an integral part of Munich Re’s daily business. Predictive analytics allow risks in the life and health fields to be forecast with increasing accuracy. Fabian Winter (Health Analytics, Munich Re, Munich) and Patrick Sullivan (Integrated Analytics, Munich Re, U.S. Life, Atlanta) explain how. Tue, 18 Apr 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/04/predictive-analytics 2017-04-18T12:00:00Z https://www.munichre.com/topics-online/en/2017/04/robotics-internet-of-things A large number of employees at a major Chinese smartphone supplier are to be replaced by robots. The company announced in December 2016 that numerous tasks would be taken over by robots made in-house, with ultimately only a few employees remaining in its factories in production, logistics, testing and inspection. The idea could become popular, as robotics is used in practically all parts of industry, and increasingly in day-to-day life. What are the implications for the insurance industry, and what challenges will it face? Tue, 18 Apr 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/04/robotics-internet-of-things 2017-04-18T12:00:00Z https://www.munichre.com/topics-online/en/2017/04/artificial-intelligence-self-driving-bus Olli – the first autonomous, self-driving shuttle bus – is partly 3D printed, has a top speed of 20 km/h, and carries up to eight passengers. At the moment, Olli drives fixed routes on university campuses – and is sure to soon be seen in many a town centre. Is this a four-wheeled revolution or just hype? Tue, 18 Apr 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/04/artificial-intelligence-self-driving-bus 2017-04-18T12:00:00Z https://www.munichre.com/topics-online/en/2017/04/data-analytics-insurance-industry A large volume of collated information alone does not guarantee deeper insights. To gain these and use raw data economically, complex analytical methods and intelligent processing are required. Munich Re employs data analytics in many areas and has developed applications from which insurers and insured persons benefit equally. Thu, 13 Apr 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/04/data-analytics-insurance-industry 2017-04-13T12:00:00Z https://www.munichre.com/topics-online/en/2017/04/it-trend-radar-2017 Digitalisation is omnipresent, is changing people and markets in the long term at an ever-increasing speed. Absolute requirements are continual adaptation and realignment of products and services. Thu, 13 Apr 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/04/it-trend-radar-2017 2017-04-13T12:00:00Z https://www.munichre.com/topics-online/en/2017/04/natcatservice-analysis-tool For more than 30 years, Munich Re’s NatCatSERVICE has provided comprehensive natural catastrophe expertise for risk management and research. Today, it is one of the most internationally recognised sources of information for the evaluation and analysis of natural disasters. You can now access this store of knowledge directly – using the online NatCatSERVICE analysis tool. Thu, 06 Apr 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/04/natcatservice-analysis-tool 2017-04-06T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/overview-natural-catastrophe-2016 Mon, 27 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/overview-natural-catastrophe-2016 2017-03-27T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/storm-matthew Hurricane Matthew was the first Atlantic hurricane for almost ten years to reach the highest category 5 status. It caused enormous damage during its passage through the Caribbean and onwards to the United States. Mon, 27 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/storm-matthew 2017-03-27T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/wildfire-in-canada In 2016, the insurance industry was taken by surprise when a forest fire produced the costliest insured loss ever in the Canadian market. Until then, wildfire losses of this magnitude had only ever happened in California, where the hazard is much greater. Mon, 27 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/wildfire-in-canada 2017-03-27T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/earthquake-new-zealand In mid-November, New Zealand was hit by its strongest earthquake in decades. At least nine different faults ruptured but, despite the magnitude of the quake, losses were limited. Mon, 27 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/earthquake-new-zealand 2017-03-27T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/earthquake-italy In 2016, just four years after the severe earthquake sequence that struck the Emilia-Romagna region in northern Italy, it was central Italy’s turn to be hit. Mon, 27 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/earthquake-italy 2017-03-27T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/China-floodings Hardly a year goes by without floods in China. Rivers are being forced into narrow courses and urban areas are becoming increasingly impermeable. After several years without any historic flood disasters, 2016 saw exceptional flood damage once again. Mon, 27 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/China-floodings 2017-03-27T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/rainstorms-over-europe From late May until mid-June, a persistent large-scale weather pattern with thunderstorms produced intense precipitation which caused both local flash floods and widespread flooding in central Europe. The floods struck many places with no warning. Mon, 27 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/rainstorms-over-europe 2017-03-27T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/earthquake-kumamoto In April 2016, two powerful earthquakes within 28 hours caused major damage in southwestern Japan. In terms of the overall loss, this was the third most expensive earthquake event in Japan’s history after the Tohoku earthquake in 2011 and the Kobe earthquake of 1995. Mon, 27 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/earthquake-kumamoto 2017-03-27T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/loss-events-in-pictures Thu, 09 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/loss-events-in-pictures 2017-03-09T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/resilience-overcoming-natural-disasters Losses from natural disasters are increasing in many parts of the world. Since even the best risk management cannot actually prevent major loss events, the focus must be on managing them. The keyword here is resilience, and insurance cover against natural hazards is a major component of this. Thu, 09 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/resilience-overcoming-natural-disasters 2017-03-09T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/a-global-priority The United Nations has made risk resilience a top priority, establishing a dedicated secretariat to facilitate the International Strategy for Disaster Reduction (ISDR) in 1999. Skype interview with Munich Re: Robert Glasser, Special Representative of the United Nations' Secretary General for Disaster Risk Reduction and Head of UNISDR. Thu, 09 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/a-global-priority 2017-03-09T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/resilience-more-than-just-a-buzzword Resilience is one of the most talked-about topics today in the field of disaster prevention and management. It is a key component of sustainable development, as formulated by the UN in 2015 in its Sustainable Development Goals, and looks set to become as ubiquitous as the word sustainability – the most popular term of the last few years. Essentially, the objective of resilience is to put societies in a position where they can cope with loss events as efficiently as possible. Thu, 09 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/resilience-more-than-just-a-buzzword 2017-03-09T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/disaster-prevention-works In developing and emerging countries, the vast majority of damage from natural disasters is not insured. The gap between insured and uninsured damage is much bigger than in industrial countries. Between 1980 and 2016, D&E countries accounted for 10% of global uninsured losses but just 1% of insured losses. Following a disaster, lack of insurance cover can delay reconstruction, or even make it impossible, particularly in poorer countries. Many developing countries have inadequate financial resources, and generally rely on external help when a disaster strikes. Thu, 09 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/disaster-prevention-works 2017-03-09T12:00:00Z https://www.munichre.com/topics-online/en/2017/topics-geo/resilience The objective of resilience is to help ensure people can overcome a potentially catastrophic event and return to normal life as quickly and effectively as possible. The range of possible precautionary measures includes setting up early-warning systems, structural protection, adequate organisation and teaching people how to respond to an emergency situation. The graphic in the form of a cycle shows that creating a high level of resistance is a dynamic and flexible process. Thu, 09 Mar 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/topics-geo/resilience 2017-03-09T12:00:00Z https://www.munichre.com/topics-online/en/2017/02/global-trade-populism For decades, global trade has moved in only one direction: towards constant growth. But, due in no small part to faltering economic activity, global trade experienced a significant contraction in 2015, and probably also in 2016. Thu, 16 Feb 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/02/global-trade-populism 2017-02-16T12:00:00Z https://www.munichre.com/topics-online/en/2017/02/insurance-market-india Customer proximity is key: Chief Executive Officer of Munich Re India Branch, Hitesh Kotak, talks about the Indian market and his expectations for the future. Wed, 01 Feb 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/02/insurance-market-india 2017-02-01T12:00:00Z https://www.munichre.com/topics-online/en/2017/02/india-branch On 31 January, 2017 Munich Re opened its first composite branch office in Mumbai. The move makes Munich Re one the first foreign reinsurers to set up shop in India since the amendment of the country’s Insurance Bill in 2015. At the same time, it is a continuation of a business commitment to the country that reaches back to the 1950s. Wed, 01 Feb 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/02/india-branch 2017-02-01T12:00:00Z https://www.munichre.com/topics-online/en/2017/01/insurance-market-china Even with economic growth in China slowing further, the outlook for the insurance sector remains excellent. Pent-up demand and the structural transformation to a service economy are likely to revitalise the finance sector in the longer term. The insurance industry in China is thus forecast to grow at twice the rate of the economy as a whole until 2020: on average, a low double-digit annual growth rate is anticipated when adjusted for inflation. Tue, 24 Jan 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/01/insurance-market-china 2017-01-24T12:00:00Z https://www.munichre.com/topics-online/en/2017/01/abcd Oil and gas exploitation has a long history. However, its future role as an energy source and geopolitical factor has become the subject of controversial debate. Reason enough for the hydrocarbon industry to brace itself for the new age of energy. Tue, 17 Jan 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/01/abcd 2017-01-17T12:00:00Z https://www.munichre.com/topics-online/en/2017/01/big-oil-big-energy Oil and gas exploitation has a long history. However, its future role as an energy source and geopolitical factor has become the subject of controversial debate. Reason enough for the hydrocarbon industry to brace itself for the new age of energy. Tue, 17 Jan 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/01/big-oil-big-energy 2017-01-17T12:00:00Z https://www.munichre.com/topics-online/en/2016/11/digital-generation With Digital Partners (DP) Munich Re established a new global venture at a time digitalisation is beginning to change the face of the insurance industry. As a start-up itself, DP strives to win the confidence of and subsequently to partner with disruptors who are changing the way insurance is experienced by customers – following the market at all times, staying flexible by all means. Mon, 16 Jan 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/11/digital-generation 2017-01-16T12:00:00Z https://www.munichre.com/topics-online/en/2017/01/risk-prone-dams Waste can be found wherever there are mining operations. Non-solid waste is collected in basins called tailings ponds, which are contained by dams. The failure of such a dam can have catastrophic consequences. If structures like these are to remain insurable, their individual risk situation must be analysed. Thu, 12 Jan 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/01/risk-prone-dams 2017-01-12T12:00:00Z https://www.munichre.com/topics-online/en/2017/01/catastrophic-error A small but fateful assembly error on the part of a subcontractor triggered a fire at an Asian manufacturer of memory chips that resulted in losses totalling almost US$ 1bn. Costs were driven up by damage to special equipment and the highly technical production facilities. Covers for contingent business interruption (CBI) were also triggered because of disruption to supply chains. Tue, 03 Jan 2017 12:00:00 GMT https://www.munichre.com/topics-online/en/2017/01/catastrophic-error 2017-01-03T12:00:00Z https://www.munichre.com/topics-online/en/2016/12/regress In daily life it is normal to hold liable a person who causes you damage. Yet some insurers forgo this recourse all too easily. Opportunities for subrogation exist even in seemingly hopeless cases such as natural catastrophes, provided the proper provisions have been made. Thu, 29 Dec 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/12/regress 2016-12-29T12:00:00Z https://www.munichre.com/topics-online/en/2016/12/subrogation When it comes to large losses, identifying human influence and ascertaining whether a third party could be responsible for damage are not always high on the list of priorities. Todd Denenberg, US subrogation expert, explains what insurers need to look out for when attempting to recover from others. Thu, 29 Dec 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/12/subrogation 2016-12-29T12:00:00Z https://www.munichre.com/topics-online/en/2016/12/sharing-economy Sharing economy – the new watchword for ecological, sustainable and resource-sparing economic activity. But is it true? Not necessarily. When the sharing economy breaks out of the niches to which it is currently confined, it will certainly have an impact on the economy, the insurance industry and society. Thu, 22 Dec 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/12/sharing-economy 2016-12-22T12:00:00Z https://www.munichre.com/topics-online/en/2016/12/flash-floods On 1 June 2016, vast quantities of water swept through the Bavarian town of Simbach. Following a thunderstorm and torrential rain lasting several hours, parts of the Rottal-Inn district in southern Germany were completely inundated. Tue, 20 Dec 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/12/flash-floods 2016-12-20T12:00:00Z https://www.munichre.com/topics-online/en/2016/12/firestorm-fort-mcmurray In the spring of 2016, aided by high temperatures and strong winds, forest fires quickly spread out of control in the Canadian province of Alberta. It would turn out to be one of the costliest natural catastrophes in Canadian history. Thu, 15 Dec 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/12/firestorm-fort-mcmurray 2016-12-15T12:00:00Z https://www.munichre.com/topics-online/en/2016/12/wildfire-causes A complex interplay of anthropogenic and natural factors make wildfires a risk that is extremely difficult to quantify. Even if hazard zones can be clearly identified, fires can cause significant losses in unexpected locations. Thu, 15 Dec 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/12/wildfire-causes 2016-12-15T12:00:00Z https://www.munichre.com/topics-online/en/2016/12/fort-mcmurray-claims-handling-challenge Six months after the devastating wildfires that tore through the Canadian province of Alberta in the spring of 2016, the rebuild of Fort McMurray is in full swing. Residents are now returning to the town that was largely destroyed by the fires, and reconstruction work has begun. Yet a number of factors are preventing claims from being settled quickly. Thu, 15 Dec 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/12/fort-mcmurray-claims-handling-challenge 2016-12-15T12:00:00Z https://www.munichre.com/topics-online/en/2016/11/blockchain Are blockchains the revolutionary technology we have been waiting for, or just old wine in new bottles? Wed, 23 Nov 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/11/blockchain 2016-11-23T12:00:00Z https://www.munichre.com/topics-online/en/2016/11/climate-insurance Low-income countries are particularly vulnerable to natural catastrophes, as few of their inhabitants can afford insurance protection. At the 2015 climate summit in Paris, insurance solutions were already adopted as one means of addressing climate risks. Climate insurance makes it possible to help developing and emerging countries adapt to climate change, by cushioning the material impacts and providing a building block for sustainable economic growth. The private sector and national governments need to cooperate in this area. Wed, 16 Nov 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/11/climate-insurance 2016-11-16T12:00:00Z https://www.munichre.com/topics-online/en/2016/11/cyber-attacks Data is the lifeblood of business, particularly for large, interconnected enterprises. If data ceases to flow or is siphoned off, the damage can be enormous. Wed, 09 Nov 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/11/cyber-attacks 2016-11-09T12:00:00Z https://www.munichre.com/topics-online/en/2016/11/diabetes The prevalence of diabetes is increasing worldwide, and the trend is putting health insurance systems under increasing pressure. Improved education and additional prevention measures are needed to keep the associated costs under control. In addition, insurers must offer special products to ensure the highest possible level of insurability. Mon, 07 Nov 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/11/diabetes 2016-11-07T12:00:00Z https://www.munichre.com/topics-online/en/2016/10/brexit On 23 June, the people of the United Kingdom voted to leave the European Union. Where do we stand now and how are things likely to progress from here? Three questions and answers by Michael Menhart, Chief Economist at Munich Re, and Carsten Prussog, Chief Executive for United Kingdom at Munich Re. Wed, 26 Oct 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/10/brexit 2016-10-26T12:00:00Z https://www.munichre.com/topics-online/en/2016/10/mentall-illness Mental health conditions such as depression, schizophrenia and anxiety disorders pose special challenges in life insurance. Yet it is precisely this field that offers great potential, thanks to new approaches and fresh ideas, says Daniela Krause, a doctor specialising in psychiatry and a habilitated researcher in this field. She advises our clients in her capacity as Medical Consultant. Thu, 20 Oct 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/10/mentall-illness 2016-10-20T12:00:00Z https://www.munichre.com/topics-online/en/2016/10/hurricane Hurricane Matthew is currently storming across the tropical North Atlantic. Learn all about how hurricanes are created by areas of low pressure in Topics Online. Thu, 06 Oct 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/10/hurricane 2016-10-06T12:00:00Z https://www.munichre.com/topics-online/en/2016/09/2016-wildfire The Fort McMurray wildfire has been in the headlines this year, and impacted on the industry’s Q2 results. California has also seen serious wildfires last year. Topics Online talked to Philipp Wassenberg, CEO of Munich Reinsurance Company of Canada, and Mark Bove, Senior Research Meteorologist of Munich Reinsurance America Inc. about the phenomenon itself and the impacts for the insurance industry. Wed, 28 Sep 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/09/2016-wildfire 2016-09-28T12:00:00Z https://www.munichre.com/topics-online/en/2016/09/large-infrastructure-projects Although it is rare for infrastructure projects to collapse during the construction phase, when it does happen the financial loss can be immense. Fri, 23 Sep 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/09/large-infrastructure-projects 2016-09-23T12:00:00Z https://www.munichre.com/topics-online/en/2016/09/immunotherapy There is a great feeling of euphoria: almost every day new reports emerge of success from the use of immunotherapy. Many cancer patients are already benefiting from such treatment; some have even been cured. However, in others the resulting immune responses in the body cause additional complications. Nevertheless, there is no doubt that the treatment offers new possibilities – both in medical science and in the insurance sector. Fri, 16 Sep 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/09/immunotherapy 2016-09-16T12:00:00Z https://www.munichre.com/topics-online/en/2016/09/antibiotic-resistance-increasing Antibiotics are medicines that fight a range of infections, including those caused by bacteria, viruses, fungi or parasites. They have been an essential part of modern medicine for almost a century. In recent years, however, research has shown that they are beginning to lose their effectiveness. Thu, 08 Sep 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/09/antibiotic-resistance-increasing 2016-09-08T12:00:00Z https://www.munichre.com/topics-online/en/2016/09/modelling-marine-risks International trading hubs have become centres of high value concentration, with the larger ports handling goods worth several billion euros every day. The catastrophe at Tianjin highlighted the insurance industry’s difficulty in reliably quantifying the loss potential of such facilities. Tue, 06 Sep 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/09/modelling-marine-risks 2016-09-06T12:00:00Z https://www.munichre.com/topics-online/en/2016/09/medical-marijuana The current increase in medical usage of marijuana coupled with the trend toward decriminalisation of medical and recreational use could create the impression that the drug has well understood effects and benefits. In fact, scientific research on the topic is still at a very early stage. In studies, the active components of cannabis show pharmacological promise, but it will take time to determine their true value. Fri, 02 Sep 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/09/medical-marijuana 2016-09-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/08/secular-stagnation Digitalisation is dramatically changing the face of the economy. Whether it is self-controlled robots in industrial production, the interconnection of production processes in the Internet of Things, or the use of self-driving vehicles – all these developments have the potential to have a massive impact on economies and societies. Fri, 26 Aug 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/08/secular-stagnation 2016-08-26T12:00:00Z https://www.munichre.com/topics-online/en/2016/08/science-of-sanctions-compliance Embargoes and sanctions restrict freedom in foreign trade. Insurance companies must ensure they comply with sanctions regulations not only on the underwriting side but also in claims settlement. IT-based solutions provide a sound basis but are no substitute for a detailed review of each individual case. Wed, 24 Aug 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/08/science-of-sanctions-compliance 2016-08-24T12:00:00Z https://www.munichre.com/topics-online/en/2016/08/implants-under-scrutiny They are intended to relieve pain and restore the quality of life. If an implant turns out to have a flaw, however, the consequences can be dire – and not just for the patient. Serial losses that can rapidly spiral into the billions make it imperative that insurers exercise the utmost care in underwriting. Tue, 23 Aug 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/08/implants-under-scrutiny 2016-08-23T12:00:00Z https://www.munichre.com/topics-online/en/2016/07/caution-complex-interdependencies As business structures become more complex, companies often need more sophisticated insurance products to properly manage their business interruption risks. Narrow vertical integration makes risk management more difficult and increases the demands placed on insurers regarding correct risk assessment and loss evaluation. Fri, 12 Aug 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/07/caution-complex-interdependencies 2016-08-12T12:00:00Z https://www.munichre.com/topics-online/en/2016/07/economic-endurance-test The Rio de Janeiro Olympic Games represent a considerable achievement in the face of adverse economic developments, political uncertainties and – as if that weren’t enough – the spread of the zika virus. As impressive as this feat is, the country is taking on an even bigger challenge proving its resilience in steering toward recovery and stable future growth. Wed, 03 Aug 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/07/economic-endurance-test 2016-08-03T12:00:00Z https://www.munichre.com/topics-online/en/2016/07/face-to-face-with-client-needs Next year marks the 20th anniversary of Munich Re’s permanent presence in Brazil. Rodrigo Belloube, CEO of our São Paulo branch, offers insights into the Brazilian market and explains how important face-to-face client relationships are for business. Wed, 03 Aug 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/07/face-to-face-with-client-needs 2016-08-03T12:00:00Z https://www.munichre.com/topics-online/en/2016/07/digital-healthcare Intelligent new technologies in the field of medical devices are being developed at a phenomenal pace. Many medical device manufacturers, software firms and pharmaceutical companies are working on new products that are increasingly based on digital integration and mobile applications. Tue, 02 Aug 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/07/digital-healthcare 2016-08-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/07/digitization-of-the-economy One thing is already clear: digitalisation will revolutionise the way companies work. But what impact will it have on the economy? Will it lead to mass unemployment and persistently low interest rates? Or will technological advances finally put an end to sluggish growth? Mon, 01 Aug 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/07/digitization-of-the-economy 2016-08-01T12:00:00Z https://www.munichre.com/topics-online/en/2016/07/insurance-pill The innovative non-damage business interruption (NDBI) cover Pharma IQ was jointly launched by Munich Re and the brokerage Marsh USA Inc. in September 2015. The solution offers Pharmaceutical companies protection against losses arising through suspension of their manufacturing and distribution operations due to a failure to comply with Good Manufacturing Practices (GMP) and subsequent regulatory shutdown of a named insured’s or named supplier’s site. Wed, 27 Jul 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/07/insurance-pill 2016-07-27T12:00:00Z https://www.munichre.com/topics-online/en/2016/07/brand-protection In their standard form, the marine cargo policies used in international freight transport only cover property damage. While brand protection clauses offer extended cover, loss potential for insurers has increased as some of these clauses considerably restrict insurers’ rights when settling claims. Tue, 26 Jul 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/07/brand-protection 2016-07-26T12:00:00Z https://www.munichre.com/topics-online/en/2016/07/storing-hazardous-substances-at-ports The disaster in Tianjin raises the question of how hazardous substances should best be managed at port facilities. A number of fundamental conditions must be met in order to prevent losses. Thu, 21 Jul 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/07/storing-hazardous-substances-at-ports 2016-07-21T12:00:00Z https://www.munichre.com/topics-online/en/2016/07/man-made-disaster Not all natural catastrophes are the work of fate – some are man-made. However, the distinction is not always straightforward, particularly in the case of floods, landslides or wildfires. Tue, 19 Jul 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/07/man-made-disaster 2016-07-19T12:00:00Z https://www.munichre.com/topics-online/en/2016/07/explosive-mixture The explosion which struck the Chinese city of Tianjin in August 2015 was certainly not the first of its kind, but it was by far the most devastating. The improper storage of hazardous materials can result in explosions that cause enormous damage over a large radius. Tue, 19 Jul 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/07/explosive-mixture 2016-07-19T12:00:00Z https://www.munichre.com/topics-online/en/2016/04/automated-life-insurance The global life insurance market is becoming more competitive and challenging. By implementing automated underwriting processes and analytics as the foundation of a lean and agile organization, one can focus on strategy and growth. Lisa Chen, Vice President for Asia Pacific ex Japan of Munich Re Automation Solutions Pte Ltd. examines the future of life underwriting in the region and share some of the major trends and development going forward. Wed, 13 Jul 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/04/automated-life-insurance 2016-07-13T12:00:00Z https://www.munichre.com/topics-online/en/2016/04/el-nino-la-nina 2015 gave us the third overall strongest El Niño event ever recorded after 1997/98 and 1982/83. Now it is the turn of La Niña, which impacts regional weather differently than El Niño. Mon, 11 Jul 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/04/el-nino-la-nina 2016-07-11T12:00:00Z https://www.munichre.com/topics-online/en/2016/04/it-trends-2016 Those who identify the potential of new technologies, trends and technological progress at an early stage have a competitive advantage and build the foundation for innovation. Constantly increasing technological complexity is leading to a growing number of areas that are relevant for our company to keep an eye on. Fri, 08 Jul 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/04/it-trends-2016 2016-07-08T12:00:00Z https://www.munichre.com/topics-online/en/2016/07/d-and-o-liability-exposures The liability arena for corporate directors and officers has long been characterised by a dynamic claims environment. In the past, the highest-profile developments in this arena have taken place primarily in the United States, due to long-standing patterns of litigiousness there. However, in the last few years changes in applicable laws and in the regulatory environment, as well as a series of high-profile scandals, have increased the significance of D&O insurance across the world. Thu, 07 Jul 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/07/d-and-o-liability-exposures 2016-07-07T12:00:00Z https://www.munichre.com/topics-online/en/2016/04/energy-efficiency-insurance With energy prices rising and awareness of the need to reduce CO2 emissions increasing, energy-saving initiatives in buildings are taking on a growing role. A wide array of different initiatives are being implemented at varying levels of investment and risk. In response, HSB engineering insurance has launched a specialist insurance cover to underwrite the effectiveness of energy-efficiency solutions. Wed, 29 Jun 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/04/energy-efficiency-insurance 2016-06-29T12:00:00Z https://www.munichre.com/topics-online/en/2016/04/cyber-insurance HSB Home Cyber Protection™ covers Phones, Homes and Computers against Hacks and Computer Attacks. Thu, 16 Jun 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/04/cyber-insurance 2016-06-16T12:00:00Z https://www.munichre.com/topics-online/en/2016/04/key-election-in-spain All eyes in Europe are fixed on London. New polls on the Brexit referendum on 23 June reach us on an almost daily basis. Some of them show the Brexit camp in front, others say that the Remain side is slightly ahead. For the United Kingdom to leave the European Union would be a major rupture. Alongside all the polls, many studies are also being published that indicate the enormous economic and political consequences that Brexit could have for Europe and for the United Kingdom. Tue, 14 Jun 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/04/key-election-in-spain 2016-06-14T12:00:00Z https://www.munichre.com/topics-online/en/2016/04/euro2016-cover The European Football Championships begin on 10 June in Paris’ Stade de France. The event is to be shown on television worldwide – as will be the subsequent 50 EURO 2016 matches. But what will happen if there are unexpected technical malfunctions and transmission problems? What coverage concepts can TV channels use to hedge against the enormous financial losses that would then occur? Thu, 09 Jun 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/04/euro2016-cover 2016-06-09T12:00:00Z https://www.munichre.com/topics-online/en/2016/04/thunderstorms-over-germany Tornadoes in Germany are more common than you might think, although they rarely cause any great damage. However, two storms in 2015 were so strong that not even solid stone walls were able to withstand their power. Thu, 09 Jun 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/04/thunderstorms-over-germany 2016-06-09T12:00:00Z https://www.munichre.com/topics-online/en/2016/04/risk-market Life insurers need more capital in the current interest-rate environment, with interest-rate and spread risks among the main drivers. Under Solvency II, both of these risks must be actively managed and substantially hedged, and Munich Re has new types of reinsurance solution that offer many advantages over financial instruments. Wed, 08 Jun 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/04/risk-market 2016-06-08T12:00:00Z https://www.munichre.com/topics-online/en/2016/05/warranty-indemnity-millberg In a merger and acquisition transaction, a seller provides representations and warranties regarding a target’s basic legal, financial and tax situation.. These are generally supplemented by warranties regarding the target’s operational risks (for example, its major clients and suppliers, public subsidies, compliance). Private equity firms in particular use W&I insurance to cover their transactions. The market is booming. Monika Milberg, Head of Financial Lines Treaty, talks about the opportunities and risks for insurers. Thu, 02 Jun 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/05/warranty-indemnity-millberg 2016-06-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/05/gotthard-tunnel On 1 June 2016, almost 17 years after construction work was first commenced, the Gotthard base tunnel will be officially opened with an inauguration ceremony. Heiko Wannick, a tunnel construction expert at Munich Re, talks about the success factors associated with tunnel projects of this scale. Wed, 01 Jun 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/05/gotthard-tunnel 2016-06-01T12:00:00Z https://www.munichre.com/topics-online/en/2016/05/krahmer-colombian-market Rolf-Dieter Krahmer, General Manager of Munich Re in Bogotá, about one of Latin America’s fastest growing countries and the regional services of Munich Re. Tue, 31 May 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/05/krahmer-colombian-market 2016-05-31T12:00:00Z https://www.munichre.com/topics-online/en/2016/05/low-interest-rates-cast-a-long-shadow The eurozone’s key interest rates have recently dropped to zero. Yet a long-lasting expansionary monetary policy has a pronounced redistributive effect and poses a risk for all who wish to provide for the future. Tue, 17 May 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/05/low-interest-rates-cast-a-long-shadow 2016-05-17T12:00:00Z https://www.munichre.com/topics-online/en/2016/05/marmara-bridge The third bridge across the Bosporus is being built north of Istanbul. With a span of more than 1,400 m, it will be the longest cable-stayed suspension bridge in the world. Munich Re is supporting this ambitious project as the leading reinsurer. Mon, 09 May 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/05/marmara-bridge 2016-05-09T12:00:00Z https://www.munichre.com/topics-online/en/2016/05/insurance-market-outlook The Insurance Market Outlook offers a brief overview of how we expect the insurance markets to develop over the next ten years. Fri, 06 May 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/05/insurance-market-outlook 2016-05-06T12:00:00Z https://www.munichre.com/topics-online/en/2016/05/blockchain-more-than-just-bitcoins No one knows whether bitcoins will ever become widely established. But the blockchain technology behind the cryptocurrency could fundamentally change many economic sectors and revolutionise the financial industry. Mon, 02 May 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/05/blockchain-more-than-just-bitcoins 2016-05-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/04/will-it-soon-be-raining-money Anyone who thinks that quantitative easing and negative interest rates constitute the entire arsenal of unconventional weapons available to central banks will be left amazed by an idea that tops them all: “helicopter money”. Wed, 13 Apr 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/04/will-it-soon-be-raining-money 2016-04-13T12:00:00Z https://www.munichre.com/topics-online/en/2016/03/when-trains-stop-running New Coverage concept for rail traffic Thu, 07 Apr 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/03/when-trains-stop-running 2016-04-07T12:00:00Z https://www.munichre.com/topics-online/en/2016/03/interview-beatrix-hartinger Insuring entrepreneurial risks requires highly specialised knowledge of the industries concerned, and the expertise we have needs to be pooled. Corporate Insurance Partner (CIP) has therefore built up globally networked Industry Practice Groups. Beatrix Hartinger has headed up CIP's worldwide property business since 2015. We asked her about the objectives of the Industry Practice Groups and the benefits they bring. Thu, 07 Apr 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/03/interview-beatrix-hartinger 2016-04-07T12:00:00Z https://www.munichre.com/topics-online/en/2016/03/faz-bomhard Whether it is financial crises, terrorism or the possible collapse of the EU, companies and countries alike need an unsparing and complete view of political, economic and natural risks. The assertion that certain crises could not have been predicted is all too often a simple case of burying one's head in the sand. Tue, 29 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/03/faz-bomhard 2016-03-29T12:00:00Z https://www.munichre.com/topics-online/en/2016/03/new-marine-hub-in-colombia Global partnership for Latin America’s marine insurers Fri, 18 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/03/new-marine-hub-in-colombia 2016-03-18T12:00:00Z https://www.munichre.com/topics-online/en/2016/03/satellites-drones-changing-management The use of innovative technologies and applications such as satellites and drones will have a major impact on claims management. A prime example of this were the Tianjin port explosions in August 2015. Thu, 03 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/03/satellites-drones-changing-management 2016-03-03T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015 Analyses, assessments, positions Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/climate-facts The earth is hotting up: 2015 saw the highest global mean temperatures ever recorded. Despite the fluctuations in individual years, it is clear that the long-term upward trend is continuing and climate change is not expected to let up any time soon. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/climate-facts 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/cop21-hoeppe In many respects, 2015 was very much a climate year. It gave us a new global temperature record fuelled by a strong El Niño, significantly exceeding the previous record of 2014. It was almost as if a further compelling argument was being presented for the climate negotiations. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/cop21-hoeppe 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/climate-insurance International conferences in 2015 had a strong focus on climate policy and paved the way for a fresh approach to tackling climate change. Also, insurance solutions were mentioned for the first time as a way to help emerging and developing countries adapt to climate change. The private sector and national governments need to cooperate in this area. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/climate-insurance 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/el-nino 2015 brought us a very strong El Niño event. Its impact was felt in many places and such strong events could occur more frequently in future. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/el-nino 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/earthquake-himalaya In the spring of 2015, Nepal and the neighbouring states of India, China and Bangladesh were rocked by a series of powerful earthquakes. The consequences were devastating, especially in the rural district to the northwest of the Nepalese capital, Kathmandu. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/earthquake-himalaya 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/hurricane-Patrici Category 5 hurricanes that make landfall usually result in catastrophes. Not Hurricane Patricia: a powerful but small storm on the Pacific coast. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/hurricane-Patrici 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/floods-inthe-atacama-desert It is not every day that you have a billion-dollar loss in the desert, especially one caused by water. The people in northern Chile now know from painful experience that it can indeed happen. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/floods-inthe-atacama-desert 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/california-aflame Drought conditions in California over the past four years – the warmest and driest period in its recorded history – have elevated the wildfire hazard to extreme levels. The dry conditions fuelled several large wildfires in the state during this period, but all occurred in remote, sparsely populated areas with little human habitation or property exposure. Unfortunately, this pattern would change in September 2015, when two large conflagrations – the Valley Fire and the Butte Fire – broke out near populated areas of northern California. By the time they were extinguished, the fires had become two of the most damaging on record in the state. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/california-aflame 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/year-in-figures Munich Re’s Geo Risks Research unit engages in a wide range of activities. Thinking outside the box is one of the most important attributes for a globally active reinsurer. Innovation, creativity and a wealth of ideas, in combination with detailed expert knowledge, ensure progress and development in the markets. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/year-in-figures 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/loss-events-in-pictures Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/loss-events-in-pictures 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/worldmap-loss-events Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/worldmap-loss-events 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/historical-loss-events-revisited Past natural catastrophes offer valuable information for present-day risk assessment, provided the loss data can be accurately transferred to the present. The trends in these data are subject to a range of influences that vary according to time and place. These influences need to be filtered out. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/historical-loss-events-revisited 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/severe-thunderstorms-in-europe In certain regions of Europe, the intensity of thunderstorms has increased over recent years. Prevention is key to keep losses at low levels. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/severe-thunderstorms-in-europe 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/virtual-earthquakes-in-3d Thanks to supercomputers, it is now possible to simulate earthquakes and their devastating effects. Although such analyses are a valuable risk management tool, the scope of application is still limited. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/virtual-earthquakes-in-3d 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/remote-sensing-with-satellites Although satellite images have been available for decades, insurers have been reluctant to introduce them into their risk management. To leverage the full potential of this source of data and information, providers and users need to work together more closely. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/remote-sensing-with-satellites 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/interview-schellnhuber-hoeppe Not long after the Climate Summit in Paris, Hans Joachim Schellnhuber, Director of the Potsdam Institute for Climate Impact Research, and Peter Höppe, Head of Munich Re’s Geo Risks Research/Corporate Climate Centre, met to discuss the results. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/interview-schellnhuber-hoeppe 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/topicsgeo2015/climate-test-20171205-C3 The earth is hotting up: 2015 saw the highest global mean temperatures ever recorded. Despite the fluctuations in individual years, it is clear that the long-term upward trend is continuing and climate change is not expected to let up any time soon. Wed, 02 Mar 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/topicsgeo2015/climate-test-20171205-C3 2016-03-02T12:00:00Z https://www.munichre.com/topics-online/en/2016/02/satellites Satellite-based systems support better data exchange, but pose a threat of cyber risks. Three questions for aviation expert Roland Küsters of Munich Re about the new airspace challenges. Fri, 26 Feb 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/02/satellites 2016-02-26T12:00:00Z https://www.munichre.com/topics-online/en/2016/02/air-traffic-safety Air traffic is set to double in the next 20 years, but there are ways to keep flying safe. Fri, 26 Feb 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/02/air-traffic-safety 2016-02-26T12:00:00Z https://www.munichre.com/topics-online/en/2016/02/brexit Thu, 11 Feb 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/02/brexit 2016-02-11T12:00:00Z https://www.munichre.com/topics-online/en/2016/01/zika-virus An acute Zika infection does not pose a danger for adults, however, viral infections can cause medium to long-term complications after the patient has recovered from the acute illness. There is a high probability that there is a connection between the Zika virus epidemic and the frequent occurrence of a neurodevelopmental disorder in neonates. According to our present knowledge, the impact of the Zika virus epidemic on life insurance is limited. Wed, 03 Feb 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/01/zika-virus 2016-02-03T12:00:00Z https://www.munichre.com/topics-online/en/2016/01/smart-home Clever control systems, intelligent central heating, smart surveillance and security lighting systems: The home of the future can think for itself. While smart homes bring with them the promise of preventing claims in the future, they still too often provide easy ways for online hackers to break into their systems. Fri, 22 Jan 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/01/smart-home 2016-01-22T12:00:00Z https://www.munichre.com/topics-online/en/2016/01/automated-vehicles Thanks to driver assistance systems, semi-automated vehicles are already being driven on our roads. It seems likely that it is only a matter of time before fully automated vehicles are also rolling off the assembly lines. How will these developments affect liability for claims due to road accidents? Fri, 08 Jan 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/01/automated-vehicles 2016-01-08T12:00:00Z https://www.munichre.com/topics-online/en/2016/01/schellnhuber-hoeppe Shortly after the Climate Summit in Paris Hans Joachim Schellnhuber, Director of the Potsdam Institute for Climate Impact Research, and Peter Höppe, Head of Geo Risks Research/Corporate Climate Center at Munich Re, met to discuss the results. Mon, 04 Jan 2016 12:00:00 GMT https://www.munichre.com/topics-online/en/2016/01/schellnhuber-hoeppe 2016-01-04T12:00:00Z https://www.munichre.com/topics-online/en/2015/12/spain-elections-2015 It is essential that the next Spanish government revitalise the innovative strength of its country's industry says Michael Menhart, Chief Economist at Munich Re. Fri, 18 Dec 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/12/spain-elections-2015 2015-12-18T12:00:00Z https://www.munichre.com/topics-online/en/2015/12/renminbi-comment-menhart Despite being part of the IMF basket of currencies – which is the most difficult obstacle on the road to becoming a true international reserve currency – the renminbi is not yet on an equal footing with the US dollar or the euro. By Michael Menhart, Chief Economist at Munich Re. Thu, 10 Dec 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/12/renminbi-comment-menhart 2015-12-10T12:00:00Z https://www.munichre.com/topics-online/en/2015/12/comment-nikolaus-von-bomhard The ECB’s current monetary policy is bad for Europe. A comment by Nikolaus von Bomhard, Chairman of the Board of Management of Munich Re. Thu, 10 Dec 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/12/comment-nikolaus-von-bomhard 2015-12-10T12:00:00Z https://www.munichre.com/topics-online/en/2015/12/Insurance-increasing-climate-risks We ought to be consistently promoting innovative, climate-friendly technologies. Torsten Jeworrek comments on COP21 climate conference in Paris Mon, 07 Dec 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/12/Insurance-increasing-climate-risks 2015-12-07T12:00:00Z https://www.munichre.com/topics-online/en/2015/12/binding-reduction-measures Part of the process of adapting to the now unavoidable consequences of climate change will be securing the required financing. Peter Höppe on the COP21 climate conference in Paris. Mon, 07 Dec 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/12/binding-reduction-measures 2015-12-07T12:00:00Z https://www.munichre.com/topics-online/en/2015/12/bushfires-in-australia In the southern half of Australia, bushfire is one of the biggest causes of loss due to natural hazards. The risk can only be reduced through close collaboration between authorities, home and business owners, industrial enterprises and the insurance industry. Wed, 02 Dec 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/12/bushfires-in-australia 2015-12-02T12:00:00Z https://www.munichre.com/topics-online/en/2015/11/solvency-II Solvency II comes into force on 1 January 2016. Today, On 30 November, Munich Re is giving a presentation to analysts in London about how it has been preparing for the new supervisory regime. Bernhard Kaufmann, Group Chief Risk Officer at Munich Re, talks about the new challenges facing the insurance industry, the certification of our internal model, and the opportunities for our Group. Mon, 30 Nov 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/11/solvency-II 2015-11-30T12:00:00Z https://www.munichre.com/topics-online/en/2015/11/fight-against-climate-change Fri, 27 Nov 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/11/fight-against-climate-change 2015-11-27T12:00:00Z https://www.munichre.com/topics-online/en/2015/11/manufacturing-processes Growing competitive pressure and shorter product cycles have forced many sectors to optimise the efficiency of their manufacturing processes and to increasingly embrace a global division of labour. Industry and the insurance sector need to take account of the new business interruption scenarios these developments bring. Wed, 25 Nov 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/11/manufacturing-processes 2015-11-25T12:00:00Z https://www.munichre.com/topics-online/en/2015/11/mers This cover shows how quickly Munich Re can respond when there is an immediate need. Tue, 24 Nov 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/11/mers 2015-11-24T12:00:00Z https://www.munichre.com/topics-online/en/2015/11/two-degree-target-climate-change One goal of the upcoming COP21 negotiations is to achieve a binding agreement that limits the global temperature rise to 2 degrees Celsius. A goal that is almost impossible to achieve. But each emission reduction counts. Mon, 16 Nov 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/11/two-degree-target-climate-change 2015-11-16T12:00:00Z https://www.munichre.com/topics-online/en/2015/09/cyber-risks Digitalisation and the networking of the economy as it heads for Industry 4.0 opens the door to innovative business models and more efficient management of resources. However, fascination with the new opportunities should not make people blind to the risks involved. In our overview you find our various insurance solutions for cyber risks. Wed, 11 Nov 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/09/cyber-risks 2015-11-11T12:00:00Z https://www.munichre.com/topics-online/en/2015/11/3d-printer Teeth, hips and bone replacements from a 3D printer: The production of implants has already made great strides in routine clinical practice. However, there are still many unanswered questions when it comes to vital organs. Fri, 06 Nov 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/11/3d-printer 2015-11-06T12:00:00Z https://www.munichre.com/topics-online/en/2015/03/aircraft-accidents Tue, 03 Nov 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/03/aircraft-accidents 2015-11-03T12:00:00Z https://www.munichre.com/topics-online/en/2015/11/volcanic-ash-in-jet-engines In 2010 aviation flight rules were relaxed, airline operators are now allowed to fly in ash clouds with low contamination. But this might not be safe in the long run: accumulated ash in jet engines over a longer period of time could result in property damage that might not be covered in traditional covers. Also, operators still face non-damage business interruptions due to ash-related grounded flights. Munich Re supports the aviation industry with innovative cover concepts that go beyond traditional policies. Tue, 03 Nov 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/11/volcanic-ash-in-jet-engines 2015-11-03T12:00:00Z https://www.munichre.com/topics-online/en/2015/11/spiegel-interview-bomhard Is the current wave of refugees merely the beginning? Nikolaus von Bomhard expects that climate change will uproot even more people. An interview with the German magazine "Der Spiegel". Mon, 02 Nov 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/11/spiegel-interview-bomhard 2015-11-02T12:00:00Z https://www.munichre.com/topics-online/en/2015/10/rugby-world-cup The Rugby World Cup final on Saturday 31 October in London is a truly global event in more ways than one: By the time the final whistle is blown on Saturday an estimated total of 2.3 million international spectators will have packed 13 stadiums at 48 matches involving 20 teams. As rough as the action on the pitch can get, the complex risks of such a major sporting event are external. The key to understanding them is experience. Thu, 29 Oct 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/10/rugby-world-cup 2015-10-29T12:00:00Z https://www.munichre.com/topics-online/en/2015/10/the-future-needs-growth In view of scarce resources and climate change, would it be better for us to do without economic growth? Absolutely not! says Michael Menhart, Chief Economist at Munich Re. Tue, 13 Oct 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/10/the-future-needs-growth 2015-10-13T12:00:00Z https://www.munichre.com/topics-online/en/2015/10/recalls-automotive-industry The number of recalls has risen sharply over the last few years, with other industrial sectors also increasingly affected. In tandem with this, there is a steady growth in demand for recall covers. Fri, 02 Oct 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/10/recalls-automotive-industry 2015-10-02T12:00:00Z https://www.munichre.com/topics-online/en/2015/09/climate-insurance Climate insurance solutions are inexpensive and easy to implement. Torsten Jeworrek calls to adapt to the unavoidable consequences of climate change. Mon, 28 Sep 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/09/climate-insurance 2015-09-28T12:00:00Z https://www.munichre.com/topics-online/en/2015/09/bariatric-surgery The global trend for obesity is accompanied by an increase in stomach stapling surgery. The impact of bariatric surgery is impressive: After the operation, patients lose weight rapidly and even accompanying conditions such as diabetes may heal. But how sustainable are the treatment results and what do they mean for risk analysis in life and health insurance? Fri, 25 Sep 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/09/bariatric-surgery 2015-09-25T12:00:00Z https://www.munichre.com/topics-online/en/2015/09/marine-container-safety Container ships break up more often than expected, with valuable freight going lost. A summary of the most frequent causes, and the necessary preventative measures Tue, 22 Sep 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/09/marine-container-safety 2015-09-22T12:00:00Z https://www.munichre.com/topics-online/en/2015/09/drones The use of drones for commercial, non-military purposes is strictly limited in many countries. Yet as civilian use of these unmanned aircraft increases, the associated risks are becoming a major focal point for insurers. Wed, 09 Sep 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/09/drones 2015-09-09T12:00:00Z https://www.munichre.com/topics-online/en/2015/09/digitalisation-shipping-logistics Digital technologies continue to transform industrial processes all over the world. Shipping and logistics are no exception: the benefits in efficiency, security and energy savings will be far-reaching. So will the risks. Tue, 08 Sep 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/09/digitalisation-shipping-logistics 2015-09-08T12:00:00Z https://www.munichre.com/topics-online/en/2015/09/responding-catastrophes Ken Feinberg – Special Master of the 9/11 Victim Compensation Fund and Administrator of the BP Fund after Deepwater Horizon – gave an overview on his experience with ad hoc compensation schemes after major catastrophes over the last 30 years. Following his visit at Munich Re, he summed up his main considerations in an interview with Christian Fuhrmann, Head of Divisional Unit Global Clients / North America Casualty. Fri, 04 Sep 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/09/responding-catastrophes 2015-09-04T12:00:00Z https://www.munichre.com/topics-online/en/2015/09/d-and-o-insurance From cybersecurity to social media and class action litigation: the directors’ and officer’s insurance market is a constantly changing landscape. US industry expert Kevin LaCroix gives his take on the market’s latest developments. Tue, 01 Sep 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/09/d-and-o-insurance 2015-09-01T12:00:00Z https://www.munichre.com/topics-online/en/2015/08/china-comment Collapse on China's stock markets, devaluation of the Yuan, and a slump in growth. The news coming out of the People's Republic is causing headaches for investors, economists and politicians alike. There are no grounds for panic, but there is some cause for concern. Fri, 28 Aug 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/08/china-comment 2015-08-28T12:00:00Z https://www.munichre.com/topics-online/en/2015/08/katrina-flood-protection The risk of flooding in New Orleans from hurricanes had been known for a long time. However, it was only after the catastrophe wreaked by Hurricane Katrina that a reliable flood control system was developed on the basis of a comprehensive study. Mon, 17 Aug 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/08/katrina-flood-protection 2015-08-17T12:00:00Z https://www.munichre.com/topics-online/en/2015/08/explosion-tianjin How do marine insurers deal with this risk? Dieter Berg, Head of Department Business Development Marine Global Partnership at Munich Re, talks to Topics Online about the explosion at the Port of Tianjin. Fri, 14 Aug 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/08/explosion-tianjin 2015-08-14T12:00:00Z https://www.munichre.com/topics-online/en/2015/07/electricity-from-the-depths-of-Africa Conditions around the East African Rift Valley are ideal for using geothermal energy. Munich Re has developed a new policy to cover the exploration risk and to help ensure that sufficient investors can be found for such sustainable power generation projects. Thu, 30 Jul 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/07/electricity-from-the-depths-of-Africa 2015-07-30T12:00:00Z https://www.munichre.com/topics-online/en/2015/07/it-security-act The German Government passed the new IT Security Act (ITSiG) on 12 June this year, at a time when Parliament was in the throes of dealing with the biggest cyber attack that had ever been launched against its own systems. Tue, 28 Jul 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/07/it-security-act 2015-07-28T12:00:00Z https://www.munichre.com/topics-online/en/2015/07/iran After many years of tough negotiations and innumerable setbacks, the nuclear agreement between Iran and the western powers was finally signed on 14 July. The economic sanctions imposed against Iran will now gradually be lifted: a major opportunity – for Iran itself, as well as for many international trading partners. Tue, 21 Jul 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/07/iran 2015-07-21T12:00:00Z https://www.munichre.com/topics-online/en/2015/07/chinas-motor-insurance China’s motor insurance market is on the move – and mastering the change calls for innovation and cooperation. Fang Zhongyou, the top underwriter of China’s largest non-life insurance company, and Munich Re’s Ludger Arnoldussen share their views on current and future developments. Fri, 03 Jul 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/07/chinas-motor-insurance 2015-07-03T12:00:00Z https://www.munichre.com/topics-online/en/2015/06/loss-mitigation Ten years on, Hurricane Katrina remains one of the costliest losses ever sustained by the insurance industry. Looking back on an event of this magnitude always raises the question of what lessons can be learned for similar scenarios in the future: Which measures to limit the extent of the loss were successful? And what part does the insurance industry play in all this? Mon, 22 Jun 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/06/loss-mitigation 2015-06-22T12:00:00Z https://www.munichre.com/topics-online/en/2015/06/cash-is-a-lot-more Over the past few weeks and months, there has been a great deal of discussion among renowned economists about the abolition of banknotes and coins. Michael Menhart, Munich Re's Chief Economist, is not a fan of the idea. Wed, 17 Jun 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/06/cash-is-a-lot-more 2015-06-17T12:00:00Z https://www.munichre.com/topics-online/en/2015/06/drone-flying As commercial drone use grows, the need for technological and operating standards is increasingly pressing. In the USA, NextGen Air Transportation (NGAT) is a non-profit consortium involving academia, industry and government, focused on developing air traffic control, airspace management and flight safety related to unmanned aerial vehicle (UAV) integration. Kyle Snyder, Director of NGAT at North Carolina State University, offered some insights. Mon, 15 Jun 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/06/drone-flying 2015-06-15T12:00:00Z https://www.munichre.com/topics-online/en/2015/06/autonomous-driving At the 17th International Liability Forum for clients of Munich Re, Ralf Herrtwich, Director of Driver Assistance and Chassis Systems at Mercedes-Benz/ Daimler AG, the risk researcher Prof. Ortwin Renn and robotics-law expert Prof. Eric Hilgendorf discussed the current state of development, technical challenges, the legal framework and social acceptance of Autonomous driving. Here the most important results of the discussion, Christian Fuhrmann, Head of Global Clients/North America conducted the interview. Tue, 09 Jun 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/06/autonomous-driving 2015-06-09T12:00:00Z https://www.munichre.com/topics-online/en/2015/05/autonomous-vehicles The first autonomous cars are already on the roads, car makers are testing autonomous cars, and Apple and Amazon are also keen to move into this field. In Germany, a long section of autobahn is to be approved to test autonomous cars: so all in all, there is a lot happening in connection with the topic. Wed, 27 May 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/05/autonomous-vehicles 2015-05-27T12:00:00Z https://www.munichre.com/topics-online/en/2015/05/broadcaster-insurance Big events like the football World Cup, awards shows, or continent-wide song competitions are TV spectaculars sans compare. If there would be a disturbance to the live television transmission, media mockery and financial losses would be inevitable. Thu, 21 May 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/05/broadcaster-insurance 2015-05-21T12:00:00Z https://www.munichre.com/topics-online/en/2015/05/insurance-market-outlook The Insurance Market Outlook offers a brief overview of our expectations on the way that insurance markets will develop over the next ten years. Wed, 13 May 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/05/insurance-market-outlook 2015-05-13T12:00:00Z https://www.munichre.com/topics-online/en/2015/05/earthquake-in-Nepal There was another major earthquake in Nepal this morning. Initial reports say that the epicentre of the quake, which measured 7.3 on the Richter scale, was about 75 kilometres east of the nation's capital Kathmandu. Yet another quake, this time measuring 6.3, shook the country around 30 minutes later. Tue, 12 May 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/05/earthquake-in-Nepal 2015-05-12T12:00:00Z https://www.munichre.com/topics-online/en/2015/05/big-data A discussion with Alexander Schmidl, who uses big data analytics in business interruption (BI/CBI) underwriting. Mon, 11 May 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/05/big-data 2015-05-11T12:00:00Z https://www.munichre.com/topics-online/en/2015/05/eu-referendum David Cameron will remain British Prime Minister. Contrary to all earlier predictions, he will even be able to govern alone, though with only a slim majority. Cameron won the election by setting the stakes very high. Now he will deliver on his campaign promise to hold a referendum by 2017 on whether the UK should stay in the European Union. He hopes that, with the threat of an upcoming referendum in his hand, he will have a better chance of getting widespread EU reforms pushed through in Brussels. The amount of anti-European sentiment in the country was also demonstrated by the strong results from the UK Independence Party (UKIP), though this was not reflected in parliamentary seats due to the plurality voting system. Mon, 11 May 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/05/eu-referendum 2015-05-11T12:00:00Z https://www.munichre.com/topics-online/en/2015/04/earthquake-in-Nepal The M7.8 earthquake that hit Nepal and its capital Kathmandu on Saturday caused a humanitarian tragedy and destroyed parts of the world's cultural heritage, says Alexander Allmann, Geophysicist and earthquake expert at Munich Re. Given the high earthquake risk in the region and the poor resilience of infrastructure and buildings to such quakes, this was also regrettably in many ways a catastrophe foretold. Mon, 27 Apr 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/04/earthquake-in-Nepal 2015-04-27T12:00:00Z https://www.munichre.com/topics-online/en/2015/04/weather-patterns Scientists and insurers are taking a close look at the phenomenon of fixed weather patterns. Tue, 21 Apr 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/04/weather-patterns 2015-04-21T12:00:00Z https://www.munichre.com/topics-online/en/2015/04/indian-market It is predicted that India will become the world's third largest economy in terms of GDP by 2020. Munich Re expects strong growth in the construction, energy, liability and agriculture segments, and is currently aligning its strategic approach to participate in this growth. The new Chief Representative (Non-Life) of Munich Re, Mumbai, Hitesh Kotak, about his initial experience and expectations for the future. Fri, 17 Apr 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/04/indian-market 2015-04-17T12:00:00Z https://www.munichre.com/topics-online/en/2015/04/india Prime Minister Narendra Modi has to succeed in balancing an investment-friendly economic policy with the necessity of enabling more people to participate. Tue, 14 Apr 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/04/india 2015-04-14T12:00:00Z https://www.munichre.com/topics-online/en/2015/04/mount-tambora The eruption of Mount Tambora on the Indonesian island of Sumbawa, between 10 and 15 April 1815, is said to be the largest and most lethal volcanic eruption in history. Research findings show that the erupting volcano spewed out 140 gigatonnes of lava, the equivalent of 50 km3 of rock. Some 71,000 people perished on Sumbawa and nearby islands as a direct result. The following year, 1816, went down in history as the "summerless year" in Europe and parts of North America due to the impact of the resulting aerosol emissions on the climate. Crop failures and famines followed. Tambora last experienced an eruption, though relatively small, in 1967. Thu, 09 Apr 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/04/mount-tambora 2015-04-09T12:00:00Z https://www.munichre.com/topics-online/en/2015/03/zyklon-pam As a Category 5 cyclone (the most severe), Cyclone Pam caused extreme destruction in the island nation of Vanuatu. Many people lost everything they owned, and the infrastructure was badly damaged. Fri, 20 Mar 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/03/zyklon-pam 2015-03-20T12:00:00Z https://www.munichre.com/topics-online/en/2015/03/harsh-winter Large parts of Japan were hit by catastrophic snowfall in February 2014, while the US suffered record low temperatures in December 2013. Meteorologically, these two winter events are probably connected. Fri, 13 Mar 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/03/harsh-winter 2015-03-13T12:00:00Z https://www.munichre.com/topics-online/en/2015/03/swarm-intelligence How quickly help arrives in a catastrophe region can mean the difference between life and death. The possibility of using social media to tap into the knowledge of as many people as possible on the ground offers completely new potential for crisis and catastrophe management. But many practical questions are still to be answered. Fri, 06 Mar 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/03/swarm-intelligence 2015-03-06T12:00:00Z https://www.munichre.com/topics-online/en/2015/03/systematic-research What conditions are most relevant for natural hazards to become catastrophes? Forensic disaster analysis can provide answers to this question. Supplemented by real-time information from social media platforms, this approach is perfectly suited to the rapid creation of reliable loss estimates in a crisis region. Fri, 06 Mar 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/03/systematic-research 2015-03-06T12:00:00Z https://www.munichre.com/topics-online/en/2015/03/needle-in-a-haystack With its forensic disaster analysis, the Center for Disaster Management and Risk Reduction Technology (CEDIM) has launched a new kind of interdisciplinary research. TOPICS GEO talked to project leader Stefan Hinz about the possibilities and limitations of mobile crowdsourcing for the analysis of natural disasters. Fri, 06 Mar 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/03/needle-in-a-haystack 2015-03-06T12:00:00Z https://www.munichre.com/topics-online/en/2015/02/topics-geo-2014 In terms of natural catastrophes, 2014 was a moderate year for the insurance industry. Despite this, it will also go down as a year of records: It was the warmest year since systematic temperature records began. A review of the past year – and a look forward to 2015. Tue, 03 Mar 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/02/topics-geo-2014 2015-03-03T12:00:00Z https://www.munichre.com/topics-online/en/2015/02/rare-diseases Diabetes, hypertension or asthma: diagnoses every underwriter is very familiar with. If they appear in applications for life or disability insurance, it is possible to adequately and immediately judge the risks with the aid of the Munich Re risk assessment manual (MIRA) in the vast majority of cases. Yet what should be done if the health declaration includes a condition of which even the company’s own medical officer has never heard of? Fri, 27 Feb 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/02/rare-diseases 2015-02-27T12:00:00Z https://www.munichre.com/topics-online/en/2015/02/open-quake After more than six years of work, the OpenQuake platform went into operation at the end of January 2015. The goal of the joint initiative Global Earthquake Model (GEM) is no less than to enable a comprehensive and holistic form of risk consideration. Questions for Alexander Allmann, geophysicist and earthquake expert at Munich Re. Mon, 23 Feb 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/02/open-quake 2015-02-23T12:00:00Z https://www.munichre.com/topics-online/en/2015/02/2010-2011-new-zealand-earthquake New Zealanders showed resilience in the aftermath of the quake that rocked Christchurch in autumn of 2010. Despite aftershocks, the prevailing attitude was positive and people were eager to pick up the pieces and get on with their lives. Yet a far more devastating earthquake with 185 deaths in early 2011 challenged the community’s spirit. Four years after this complex and unanticipated series of events, reconstruction efforts and insurance settlement processes are still underway. Fri, 20 Feb 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/02/2010-2011-new-zealand-earthquake 2015-02-20T12:00:00Z https://www.munichre.com/topics-online/en/2015/02/cyber-risks Cyber attacks are a growing threat to companies. Florian Seitner from the Bavarian Office for the Protection of the Constitution and Michael Hochenrieder from HvS–Consulting, a provider of IT security services, talked with Munich Re about costly losses and complex risks. Mon, 16 Feb 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/02/cyber-risks 2015-02-16T12:00:00Z https://www.munichre.com/topics-online/en/2015/02/broken-hearts The broken-heart syndrome – A new diagnosis in risk assessment for life insurance Fri, 13 Feb 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/02/broken-hearts 2015-02-13T12:00:00Z https://www.munichre.com/topics-online/en/2015/02/d-and-o-scout To take the guesswork out of managing liability for wrong executive decisions, Munich Re has launched an app that runs on tablet computers. D&O Scout provides quick, easy and discreet information on directors’ & officers’ (D&O) liability risks and insurance. Tue, 03 Feb 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/02/d-and-o-scout 2015-02-03T12:00:00Z https://www.munichre.com/topics-online/en/2015/01/life-business-north-america Geographically and culturally close as they are, the US and Canadian life insurance markets exhibit huge differences. Canadian life insurers are regulated centrally via Ottawa, while US companies must meet different regulations in each state. In Canada, key market players are concentrated in a few major cities – US primary life insurers are spread all over the country. Despite their diversity, Canadian and US markets share two characteristics: maturity and fierce competition. Mary Forrest is President and CEO, North America (Life), which is responsible for Munich Re's life business throughout North America. We began by asking her to describe the current overall market situation. Wed, 28 Jan 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/01/life-business-north-america 2015-01-28T12:00:00Z https://www.munichre.com/topics-online/en/2015/01/warmest-year According to data from the US weather service NOAA (National Oceanic and Atmospheric Administration) published in mid-January 2015, this past year of 2014 was the warmest ever in the time series that has been measured since 1880. The global mean temperature for land and sea surfaces was 0.69°C above the comparison value in the 20th century. The Earth has warmed in particular over the last few decades. According to assessments made by the Intergovernmental Panel on Climate Change (IPCC), a further rise in temperature will exacerbate the hazard situation in many regions. Wed, 28 Jan 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/01/warmest-year 2015-01-28T12:00:00Z https://www.munichre.com/topics-online/en/2015/01/insuring-launch-risks Tight budgets, time pressures and total losses: government space agencies need to rethink their position and are now considering seeking insurance cover against losses – which could offer huge potential for Munich Re as the market leader for space insurance. Tue, 27 Jan 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/01/insuring-launch-risks 2015-01-27T12:00:00Z https://www.munichre.com/topics-online/en/2015/01/dkv-report Cycling to work, avoiding the elevator at the office and using the stairs, standing up at your desk: there are many ways to introduce exercise into your daily routine. International studies confirm that regular exercise significantly reduces the risk of disease. The recently released DKV report also demonstrates: long hours of sitting and lack of exercise are poison for the body. Mon, 26 Jan 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/01/dkv-report 2015-01-26T12:00:00Z https://www.munichre.com/topics-online/en/2015/01/SNB-action Even the Swiss themselves were taken unawares by the end of the exchange-rate cap against the euro, which has shaken confidence worldwide. Topics Online talked to Michael Menhart, Chief Economist at Munich Re, about the background and consequences. Mon, 19 Jan 2015 12:00:00 GMT https://www.munichre.com/topics-online/en/2015/01/SNB-action 2015-01-19T12:00:00Z https://www.munichre.com/topics-online/en/2014/12/food-safety At regular intervals, the media, together with well-informed consumers, refuel the debate on the safety of our food. Just how good is the quality of our food, and when does a food scandal lead to an insured third-party liability claim? Mon, 15 Dec 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/12/food-safety 2014-12-15T12:00:00Z https://www.munichre.com/topics-online/en/2014/11/plump-but-healthy "No sports" was Winston Churchill's answer to the question of how he had managed to live to such a ripe old age. The former British Prime Minister was considerably overweight. He nevertheless died only in 1965 – at the biblical age, at least for that time, of 90 years. Was he an exceptional case? One thing is certain: People who are similarly overweight today can take out life insurance only if they are willing to pay additional risk premiums. However, such premiums may soon become somewhat lower. Thu, 13 Nov 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/11/plump-but-healthy 2014-11-13T12:00:00Z https://www.munichre.com/topics-online/en/2014/11/monetary-policy The US economy grew by a healthy 3.5% in the third quarter. At the same time, the Fed ended its unconventional monetary policy of quantitative easing (QE). Within Europe there are calls for the ECB to follow the Fed’s example and purchase government bonds. Why should something that appears to have worked in the USA not also work here? What other ways are there of stimulating the economy and warding off deflation? Mon, 10 Nov 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/11/monetary-policy 2014-11-10T12:00:00Z https://www.munichre.com/topics-online/en/2014/11/IPCC-recommendations The findings of the Intergovernmental Panel on Climate Change (IPCC) are clear: If no action is taken, global warming will mean huge risks worldwide in the future – for populations, for companies, and for countries. Mon, 03 Nov 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/11/IPCC-recommendations 2014-11-03T12:00:00Z https://www.munichre.com/topics-online/en/2014/09/scotland-refrains-from-opening-Pandoras-box Scotland decided on Thursday to stay part of the United Kingdom – fortunately, from an economic viewpoint. Michael Menhart, Chief Economist at Munich Re, discusses some of the risks associated with Scotland’s independence. Fri, 19 Sep 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/09/scotland-refrains-from-opening-Pandoras-box 2014-09-19T12:00:00Z https://www.munichre.com/topics-online/en/2014/07/portrait As a leading expert on climate risks and natural hazards at Munich Re, Eberhard Faust studies risk-relevant changes in extreme weather and other natural hazards. His academic background in geoecology/environmental sciences helps him in his work. But he has a further string to his bow: Faust also studied Protestant theology, a discipline that includes elements of the Classics and Ancient History. What at first sight appears a surprising combination of subjects has proved a help in practice. Fri, 01 Aug 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/07/portrait 2014-08-01T12:00:00Z https://www.munichre.com/topics-online/en/2014/07/longest-floating-bridge-in-the-world The world's longest floating bridge is now under construction in Seattle – a masterpiece of engineering and logistics. Munich Re, with its wealth of expertise, is involved in insuring the project. Tue, 29 Jul 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/07/longest-floating-bridge-in-the-world 2014-07-29T12:00:00Z https://www.munichre.com/topics-online/en/2014/07/mental-illness Mental illness has now moved to the top of the list of triggers for disability insurance. There has been a heated debate in the media over whether the number of such illnesses is actually increasing, or whether it is more a case of much ado about nothing. TOPICS Online looks at the implications of the trend for the business model for disability insurance. Mon, 14 Jul 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/07/mental-illness 2014-07-14T12:00:00Z https://www.munichre.com/topics-online/en/2014/07/el-nino Experts believe that the weather phenomenon, El Niño, is very likely to occur this year. What will this mean for global weather? Wed, 09 Jul 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/07/el-nino 2014-07-09T12:00:00Z https://www.munichre.com/topics-online/en/2014/06/cancellation-of-event The fact that the organisers and investors in the event can sleep soundly in the days leading up to the World Cup in Brazil is partly thanks to the British monarch, Edward VII. When the king fell ill in June 1902, shortly before his coronation, the festivities had to be postponed. Because a large number of reservations were then cancelled, a series of court cases ensued, which became known in legal history as the "coronation cases". For the first time, an event cancellation was recognised as a legitimate reason for withdrawing from a contract. Wed, 11 Jun 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/06/cancellation-of-event 2014-06-11T12:00:00Z https://www.munichre.com/topics-online/en/2014/05/eyes-are-on-brazil Many people thought in 2007 that the upcoming World Cup would give Brazil an economic boost. Today such hopes seem a long way from being realised. Many reforms are still on hold. Tue, 10 Jun 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/05/eyes-are-on-brazil 2014-06-10T12:00:00Z https://www.munichre.com/topics-online/en/2014/05/austerity-works The situation looks grim: despite reform policies and drastic savings in many countries, the public debt-to-GDP ratio in the eurozone has risen to an average figure of almost 93% of economic output. Unemployment in some crisis-hit countries is at an intolerably high level; in Greece and Spain it remains over 25%. Nevertheless, the strategy of reforms and consolidation was and remains the right way. The risks that all alternative courses of action entail are simply too big. Mon, 02 Jun 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/05/austerity-works 2014-06-02T12:00:00Z https://www.munichre.com/topics-online/en/2014/05/e-cigarettes Electronic cigarettes – so-called "e-cigarettes" – are becoming more and more popular. Smokeless non-tobacco cigarettes have been around since the early 1960s. But it was not until 2003 that the Chinese chemist Hon Lik patented the modern e-cigarette. Business has been booming in recent years: advertising emphasises the health benefits of switching from traditional cigarettes to e-cigarettes, using celebrity endorsements, dedicated websites and specialised walk-in shops. In the UK alone, the number of users is estimated to be 1.3 million. Fri, 30 May 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/05/e-cigarettes 2014-05-30T12:00:00Z https://www.munichre.com/topics-online/en/2014/04/40-years-geo-risks-research Systematically recording, analysing and investigating climate change, natural catastrophes and their disastrous consequences: those are the core tasks of the Geo Risks Research unit that Munich Re set up 40 years ago. The vast wealth of knowledge and experience gathered over this period enables our team to develop high-quality solutions for assessing natural catastrophe risks. Mon, 07 Apr 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/04/40-years-geo-risks-research 2014-04-07T12:00:00Z https://www.munichre.com/topics-online/en/2014/02/europe-need-more-labour-migration Freedom of movement within the European Union must remain unrestricted. The movement of workers across national boundaries is a prerequisite for the proper functioning of the internal market and ultimately benefits everyone. Fri, 14 Feb 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/02/europe-need-more-labour-migration 2014-02-14T12:00:00Z https://www.munichre.com/topics-online/en/2014/02/pole-position Munich Re’s Motor Consulting Unit experts combine professional expertise with a love of cars. Together, they develop strategies and processes that help our clients overcome challenges in order to write more and better business – regardless of the specific market situation. Fri, 07 Feb 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/02/pole-position 2014-02-07T12:00:00Z https://www.munichre.com/topics-online/en/2014/01/severe-traumatic-brain-injury There is considerable debate in the media over the consequences of severe traumatic brain injury following former F1 champion Michael Schumacher’s recent skiing accident. Medical advances have improved both survivability from this type of injury and insurability for patients. Wed, 29 Jan 2014 12:00:00 GMT https://www.munichre.com/topics-online/en/2014/01/severe-traumatic-brain-injury 2014-01-29T12:00:00Z https://www.munichre.com/topics-online/en/2013/12/cosmetic-surgery The beauty business is booming. Our media world is constantly presenting an idealised image of a smooth-skinned, slim and well-proportioned body, in the process feeding the public's desire for physical perfection. It is a desire that is fuelling a continual growth in the beauty industry. All around the world, from the USA to China, the number of customers who would like to make more of their bodies is increasing across all income brackets. Fri, 20 Dec 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/12/cosmetic-surgery 2013-12-20T12:00:00Z https://www.munichre.com/topics-online/en/2013/12/natural-catastrophes-insurance Insured and economic losses caused by natural catastrophes around the world are on the increase. Due to rapidly rising living standards, excessive urbanisation and the consequences of climate change, some emerging countries are particularly affected. Current studies have concluded that insurance protection makes an important contribution to speeding up economic recovery after natural catastrophes. Fri, 06 Dec 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/12/natural-catastrophes-insurance 2013-12-06T12:00:00Z https://www.munichre.com/topics-online/en/2013/11/marine-piracy While the situation off the coast of Somalia seems to be calming down, attacks in the Gulf of Guinea are on the rise. Whereas Somali pirates focus primarily on capturing ships and demanding ransoms, pirates operating off Africa’s western coast concentrate more on cargo. A comparison of the two high-risk areas. Fri, 15 Nov 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/11/marine-piracy 2013-11-15T12:00:00Z https://www.munichre.com/topics-online/en/2013/10/column-michael-menhart Not only did the Arab Spring transform the political situation in the countries of North Africa, it also awakened great expectations for an economic upswing in the region. The people there dreamt of a brighter economic future as well. Fri, 25 Oct 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/10/column-michael-menhart 2013-10-25T12:00:00Z https://www.munichre.com/topics-online/en/2013/09/ipcc-report-faust A huge undertaking: The Intergovernmental Panel on Climate Change (IPCC), the global climate body of the member states of the United Nations, assesses thousands of studies on climate change, based on qualitative and quantitative criteria, in order to obtain an overview of the definitive status of research. The report "The Physical Science Basis", which forms the first part of the Fifth Assessment Report of the IPCC, is now available. TOPICS Online asked Dr. Eberhard Faust, a leading specialist on natural hazards at Munich Re, about the most significant findings. Fri, 27 Sep 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/09/ipcc-report-faust 2013-09-27T12:00:00Z https://www.munichre.com/topics-online/en/2013/08/power-of-risk-research Natural catastrophes and especially severe weather events are increasing in frequency and severity all over the world - and the USA is no exception. Concentrations of wealth and assets in exposed areas make the country particularly vulnerable. With sophisticated research in cooperation with leading institutes like IBHS, Munich Re is helping create a better understanding of the risks and how to manage them. Mon, 05 Aug 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/08/power-of-risk-research 2013-08-05T12:00:00Z https://www.munichre.com/topics-online/en/2013/07/munich-bomb Unexploded bombs are still found along the coast, in lakes, rivers and above all buried under the earth – a deadly legacy from the Second World War. Although losses due to acts of war are excluded, insurers showed themselves to be highly cooperative in settling claims resulting from the controlled explosion of a WWII aerial bomb in the centre of Munich. Unlike the state, which took some time to accept its responsibility for resulting losses, insurers paid out quickly and without fuss. Mon, 15 Jul 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/07/munich-bomb 2013-07-15T12:00:00Z https://www.munichre.com/topics-online/en/2013/07/flooding Not again. Just ten years after the "hundred-year flood" of August 2002, vast areas of Germany were once more left submerged under water in June 2013. What are the factors involved in such severe weather events? What can the state, individuals and the insurance industry do to tackle such large-scale flooding and keep damage and losses to a minimum? Fri, 05 Jul 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/07/flooding 2013-07-05T12:00:00Z https://www.munichre.com/topics-online/en/2013/06/tornadoes A tornado builds up within minutes and, in relation to its brief duration, is more destructive than a hurricane. Topics Online explains how a tornado forms. Fri, 28 Jun 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/06/tornadoes 2013-06-28T12:00:00Z https://www.munichre.com/topics-online/en/2013/06/column-jeworrek According to the latest calculations from management consultancy McKinsey, investment in infrastructure is at its lowest level for 20 years. Germany most recently spent just 1.9% of its gross domestic product in this area; in the early 1990s the figure was as high as 3%. Torsten Jeworrek is calling for a review of this policy. Mon, 10 Jun 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/06/column-jeworrek 2013-06-10T12:00:00Z https://www.munichre.com/topics-online/en/2013/02/risikomanagement Natural catastrophe losses are on the rise. Many developing and emerging countries are hit especially hard. But good insurance programmes can help to mitigate the consequences. Mon, 08 Apr 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/02/risikomanagement 2013-04-08T12:00:00Z https://www.munichre.com/topics-online/en/2013/02/marine Global transport capacities, value concentrations and insured values are all rising to unprecedented levels. Companies which fail to adjust their risk management in good time can soon run aground under Solvency II. Mon, 08 Apr 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/02/marine 2013-04-08T12:00:00Z https://www.munichre.com/topics-online/en/2013/02/portrait Belgian Tom Van den Brulle has been head of Munich Re, Milan for exactly two years. He has introduced many changes and placed a stronger focus on the client. After all, reinsurance is also a people business – especially in Italy. Mon, 08 Apr 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/02/portrait 2013-04-08T12:00:00Z https://www.munichre.com/topics-online/en/2013/02/life Clients who take out high-value life insurance policies generally do not have a lot of spare time on their hands. For this reason, there is now the option of choosing a mobile health check instead of the medical examination by a doctor that is normally required. It is a service that fits well with the product and target group, as well as offering some distinct advantages for insurers. Mon, 08 Apr 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/02/life 2013-04-08T12:00:00Z https://www.munichre.com/topics-online/en/2013/02/natural-catastrophes On 29 October, hurricane Sandy slammed into the New Jersey coastline, leaving behind an unprecedented level of devastation. Sandy was the most destructive hurricane encountered in the northeastern USA since the great storm of 1938. Mon, 08 Apr 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/02/natural-catastrophes 2013-04-08T12:00:00Z https://www.munichre.com/topics-online/en/2013/01/space Satellites network the world, provide information about the weather, and are indispensable for modern communication and for global networking. The technology is becoming increasingly complex, sophisticated and expensive. The investment costs for satellites and launch vehicles are in the region of US$ 300m. Financing a venture on this scale requires comprehensive insurance protection. Wed, 06 Feb 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/01/space 2013-02-06T12:00:00Z https://www.munichre.com/topics-online/en/2013/01/implants According to marketing claims, implants are intended for long-term use and represent sustained improvement in the quality of life. From the viewpoint of the third-party liability insurer, however, many implants fall into the highest risk class. Munich Re has examined the risk spectrum for medical devices of this nature and urges caution when underwriting. Wed, 06 Feb 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/01/implants 2013-02-06T12:00:00Z https://www.munichre.com/topics-online/en/2013/01/portrait-ashok-prayag Ashok Prayag realised his passion for mathematics and problem solving at an early age. Although he began his university studies as a medical student, he ultimately decided to follow his passion for formulas and figures. And it was this love of “scientific poetry”, as his calls it, that led him to Munich Re more than 20 years ago. Wed, 06 Feb 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/01/portrait-ashok-prayag 2013-02-06T12:00:00Z https://www.munichre.com/topics-online/en/2013/01/nathan NATHAN stands for Natural Hazard Assessment Network. It is a package of solutions designed to meet clients' individual needs when it comes to assessing natural hazards. Newly implemented hazard zones and modules enable Munich Re's clients to make risks more transparent. Wed, 06 Feb 2013 12:00:00 GMT https://www.munichre.com/topics-online/en/2013/01/nathan 2013-02-06T12:00:00Z https://www.munichre.com/topics-online/en/2012/06/column-michael-menhart The USA has voted: Barack Obama remains in office but the stalemate in Congress continues. It is clear that progress on key political issues like fiscal policy will require a willingness to compromise. The primary objective here is to achieve a more sustainable public-finance situation, but also, in the short term, to avoid the "fiscal cliff". What is the outlook for budgetary policy? What are the risks for the US and for the global economy? Tue, 04 Dec 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/06/column-michael-menhart 2012-12-04T12:00:00Z https://www.munichre.com/topics-online/en/2012/06/csp-plants There are many different parties involved in ensuring the success of solar thermal projects: manufacturers, project planners, operators, investors and insurers. There is also a need for insurance in many areas. Tue, 04 Dec 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/06/csp-plants 2012-12-04T12:00:00Z https://www.munichre.com/topics-online/en/2012/06/aviation An Airbus A380 managed to make a successful emergency landing after one of its engines exploded. But the explosion caused one of the costliest hull losses in the history of passenger aviation. Tue, 04 Dec 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/06/aviation 2012-12-04T12:00:00Z https://www.munichre.com/topics-online/en/2012/06/portrait-karsten-filzmaier Dr. Karsten Filzmaier has worked as a doctor in various countries and cultures. Today, in the role of insurance medical officer, he travels all over the world exploring opportunities to make medical progress useful for life insurance and identifying future risks. Tue, 04 Dec 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/06/portrait-karsten-filzmaier 2012-12-04T12:00:00Z https://www.munichre.com/topics-online/en/2012/06/engineering The Bujagali Hydroelectric Power Project, which went into operation at the Bujagali Falls in Uganda in mid-June 2012, is the country's largest ever run-of-the-river power station. It is also the largest in all of sub-Saharan Africa. The five-turbine power plant at the source of the Nile now generates more than 250 MW of electricity to supply around five million households. The project is a true model of success ‒ for other African nations as well who want to generate sustainably clean and affordable electricity. Tue, 04 Dec 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/06/engineering 2012-12-04T12:00:00Z https://www.munichre.com/topics-online/en/2012/05/life-top-athletes "Faster, higher, stronger!" was the motto for the 10,000 or more athletes who took part in the Olympic Games in London. But what risks are posed by a life that is lived at the very limits of physical performance? There have been repeated media reports on the sudden cardiac deaths of top athletes – are these just tragic individual cases, or an indication of enhanced risk? Munich Re provides the answers. Mon, 01 Oct 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/05/life-top-athletes 2012-10-01T12:00:00Z https://www.munichre.com/topics-online/en/2012/05/life-neuroscience Brain research is in a transitional stage between pure research and practical medical application. What risk exposures will insurers face in the future? Mon, 01 Oct 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/05/life-neuroscience 2012-10-01T12:00:00Z https://www.munichre.com/topics-online/en/2012/05/marine-piracy In combating piracy on the high seas, shipping companies and the community of nations are relying increasingly on the use of weapons. The number of successful pirate attacks dropped significantly in 2011. Nonetheless, the risk situation off the coast of Somalia calls for ongoing scrutiny. Munich Re has issued a new publication on the subject. Mon, 01 Oct 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/05/marine-piracy 2012-10-01T12:00:00Z https://www.munichre.com/topics-online/en/2012/05/marine-ship-runs-aground On 4 October 2011, the Rena was sailing from Napier to Tauranga, New Zealand, when it ran aground on the Astrolabe Reef in the Bay of Plenty. Mon, 01 Oct 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/05/marine-ship-runs-aground 2012-10-01T12:00:00Z https://www.munichre.com/topics-online/en/2012/04/nathan Natural hazards such as windstorms, earthquakes or floods regularly result in major claims. But where do these events occur – and what is the probability of them happening? Insurers can find answers to questions like these with NATHAN Risk Suite from Munich Re: now even faster and more accurate. Mon, 06 Aug 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/04/nathan 2012-08-06T12:00:00Z https://www.munichre.com/topics-online/en/2012/04/column High expectations, widespread opposition – the energy policy shift is making very little headway at present. What is missing is a systematic European energy policy. A commentary by Dr. Torsten Jeworrek. Mon, 06 Aug 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/04/column 2012-08-06T12:00:00Z https://www.munichre.com/topics-online/en/2012/04/natural-hazards Hurricane Andrew raged over Florida in August 1992. Thousands lost all of their possessions, and 62 lost their lives. The insured loss: US$ 17bn (original values). Today, 20 years on, Andrew is still the third most expensive windstorm ever for the insurance industry. Mon, 06 Aug 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/04/natural-hazards 2012-08-06T12:00:00Z https://www.munichre.com/topics-online/en/2012/03/engineering The typical characteristics of Munich Re's engineers are practical experience and insurance know-how – a winning combination for the client. In the film we present three engineers whose experience in different fields enables them to develop solutions for ambitious large-scale projects such as buildings, roads, bridges, tunnels, pipelines or power plants. Tue, 05 Jun 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/03/engineering 2012-06-05T12:00:00Z https://www.munichre.com/topics-online/en/2012/03/munichhealth-rule-engine Incorrect invoices, abuse and fraud in the healthcare sector impose a substantial burden on both insurers and insured. But checking invoices manually involves high costs. Munich Re's health business has developed a service that automatically and instantly identifies invoices that are incorrect. Tue, 05 Jun 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/03/munichhealth-rule-engine 2012-06-05T12:00:00Z https://www.munichre.com/topics-online/en/2012/03/portrait-ike-hyun-kim Ike Kim speaks quietly. The Branch Manager of Munich Re, Seoul, who does not consider himself an adventurer, has known only turbulent times in the course of his career. Having experienced Korea’s financial and economic crisis in 1997, he now finds himself in a Korea whose economy is highly dynamic and continuously developing. He believes his country learnt a lot from the crisis and is better prepared for the future as a result. Tue, 05 Jun 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/03/portrait-ike-hyun-kim 2012-06-05T12:00:00Z https://www.munichre.com/topics-online/en/2012/03/olympic-games After Beijing, Munich Re is once again the leading Cancellation risk partner for the Summer Olympics in London. The spectrum of risks at major international sporting events is largely similar. At the same time, the areas of focus vary depending on the venue, so tailored solutions and professional risk management are required. Tue, 05 Jun 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/03/olympic-games 2012-06-05T12:00:00Z https://www.munichre.com/topics-online/en/2012/02/column-menhart The European Central Bank is under fire from many sides. For some, it is “too German and too prudent” compared with the US Federal Reserve. Others are deeply concerned at the billions being used to buy government bonds and supply banks with cheap money. The critics point to allegedly irresponsible risks resulting from the current policy. Who is right? How much risk is it worth taking to keep the euro? Wed, 11 Apr 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/02/column-menhart 2012-04-11T12:00:00Z https://www.munichre.com/topics-online/en/2012/02/e-bikes Around 900,000 e-bikes and pedelecs are now using the roads in Germany. But this trend also harbours new risks. Many cyclists are also unaware that they are travelling without insurance cover. Wed, 11 Apr 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/02/e-bikes 2012-04-11T12:00:00Z https://www.munichre.com/topics-online/en/2012/02/titanic 15 April 1912: Following a collision with an iceberg, the "unsinkable" Titanic went down, with the loss of 1,500 lives. Even today, the sinking of the Titanic is considered one of the greatest maritime disasters of all time. Wed, 11 Apr 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/02/titanic 2012-04-11T12:00:00Z https://www.munichre.com/topics-online/en/2012/01/discussion-panel In the aftermath of the devastating earthquake of 11 March 2011, it has become clear that industry, the scientific community and political leaders must change their approach at both the national and global levels. Tue, 07 Feb 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/01/discussion-panel 2012-02-07T12:00:00Z https://www.munichre.com/topics-online/en/2012/01/natural-hazards When Winter Storm Xynthia swept over Europe in 2010, it left behind insured losses in the order of €2bn. The year before, it was Klaus that raged across Europe. The balance: insured losses also amounting to some €2bn. In 1999, Lothar outstripped both these events, costing insurers approximately €6bn. Kyrill (2007) inflicted insured losses of over €2bn in Germany alone. The damage caused by Joachim, the first big winter storm in 2011, was mild in comparison. However, a recent study by the GDV shows that such storms will increase in the future as a result of climate change. Tue, 07 Feb 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/01/natural-hazards 2012-02-07T12:00:00Z https://www.munichre.com/topics-online/en/2012/01/life A point-of-sale solution implemented by Munich Re together with an Asian life insurer highlights the advantages of automated underwriting. The key ingredients in this recipe for success were tried and tested software components, a great deal of experience and in-depth consulting. Tue, 07 Feb 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/01/life 2012-02-07T12:00:00Z https://www.munichre.com/topics-online/en/2012/01/portrait-mary-forrest What Mary Forrest enjoys most is running a business – any business, as long as she’s convinced of its potential for profitable growth. Fortunately for Munich Re, Mary chose the insurance industry, but her career path was by no means clear from the start. She began her studies in philosophy and mathematics and to this day remains passionate about art, design and architecture. At the suggestion of a math professor, Mary shifted her focus to actuarial science – a choice that led her to Munich Re and a highly successful career spanning more than 20 years. Tue, 07 Feb 2012 12:00:00 GMT https://www.munichre.com/topics-online/en/2012/01/portrait-mary-forrest 2012-02-07T12:00:00Z https://www.munichre.com/topics-online/en/2011/06/geo-risks Eastern Turkey was hit by another strong earthquake on 23 October. In 2011, more losses were attributable to geophysical events than meteorological events. It is mainly because of the earthquakes in Japan and New Zealand that 2011 will go down in history as the year with the highest economic losses ever incurred from natural hazard events. Insured losses, by contrast, will be below the record level of 2005, when hurricanes Rita, Wilma and Katrina struck. Tue, 06 Dec 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/06/geo-risks 2011-12-06T12:00:00Z https://www.munichre.com/topics-online/en/2011/06/floodmanagement Efforts put into the construction of control structures on the Mississippi over the last 80 years have paid off. The actual losses of US$ 4.6bn were well below the worst-case scenario of over US$ 100bn. Tue, 06 Dec 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/06/floodmanagement 2011-12-06T12:00:00Z https://www.munichre.com/topics-online/en/2011/06/commentary Tue, 06 Dec 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/06/commentary 2011-12-06T12:00:00Z https://www.munichre.com/topics-online/en/2011/06/liability Even the best doctors make mistakes. Years ago, people used to trust doctors implicitly. Now the number of lawsuits against medical practitioners and the resulting costs are rising disproportionately. Insurers that have a thorough knowledge of this market can take advantage of the growing trend in liability business. Tue, 06 Dec 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/06/liability 2011-12-06T12:00:00Z https://www.munichre.com/topics-online/en/2011/05/low-interest-rate-environment High costs of state rescue packages for countries in the European periphery, inflation concerns due to lax monetary policy, fear of a decade of deflation as already seen in Japan: the question again arises of whether we can continue to expect very low yields or whether rapidly rising yields for German government bonds (bunds) are more likely over the long term – as does the question of what this will mean for investment strategies. Wed, 12 Oct 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/05/low-interest-rate-environment 2011-10-12T12:00:00Z https://www.munichre.com/topics-online/en/2011/05/engineering In order to link Europe directly with the gas fields in Russia, the Nord Stream consortium has laid a pipeline through the Baltic Sea at a total investment cost of €7.4bn. The two parallel pipelines run from Vyborg in Russia to Greifswald in north-eastern Germany. Wed, 12 Oct 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/05/engineering 2011-10-12T12:00:00Z https://www.munichre.com/topics-online/en/2011/04/engineering-property Sayano-Shushenskaya is one of the world’s biggest hydro power plants. Years of overloading the turbines and inadequate maintenance were probably behind the major accident in 2009. Could greater care have prevented the catastrophe? Wed, 03 Aug 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/04/engineering-property 2011-08-03T12:00:00Z https://www.munichre.com/topics-online/en/2011/04/life So far, evidence-based risk assessment has been next to impossible for recreational divers. This is about to change, for Munich Re has just concluded an analysis of the findings gained from a comprehensive study. The risk depends on the diver's fitness, age and diving mode. Wed, 03 Aug 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/04/life 2011-08-03T12:00:00Z https://www.munichre.com/topics-online/en/2011/04/motor-insurance Singapore, whose land area is roughly equivalent to that of the city of Hamburg in Germany, has an estimated population of 4.8 million. Due to the city state’s restrictive traffic policy, private car ownership is subject to strict regulations. Levies on imported motor vehicles amount to over 200% in some cases. Given that there are only about 550,000 registered passenger vehicles, the Singapore market is reasonably transparent and also an ideal platform for transferring the experience gained here with processes, systems and marketing activities to other Southeast Asian markets. Wed, 03 Aug 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/04/motor-insurance 2011-08-03T12:00:00Z https://www.munichre.com/topics-online/en/2011/04/world-trade-center When One World Trade Center completes its rise in 2013 to claim its place on the skyline of Lower Manhattan, Munich Re employees may be excused for feeling a tinge of extra pride knowing the organization played a role in fulfilling a promise to rebuild at the epicenter of so much horror, sorrow, and anger nearly a decade ago. Wed, 03 Aug 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/04/world-trade-center 2011-08-03T12:00:00Z https://www.munichre.com/topics-online/en/2011/03/ageing-infrastructure Collapsing bridges, leaking pipes and bumpy roads: infrastructure in the western industrialised countries is certainly not getting any younger. A new series in Schadenspiegel offers an insight into the principal loss scenarios. Topics Online presents the main points from the article. Mon, 06 Jun 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/03/ageing-infrastructure 2011-06-06T12:00:00Z https://www.munichre.com/topics-online/en/2011/03/intellectual-property The term “intellectual property” involves a number of different legal fields. In Germany, literary, scientific and art works are subject to copyright inherent in the work. The work does not have to be registered. For instance, photographs taken by a photographer are deemed artistic works and protected by copyright as soon as they are taken: the photographer does not need to take action. By contrast, in the commercial field, intangible items such as software programs have to be registered before they are legally protected. Mon, 06 Jun 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/03/intellectual-property 2011-06-06T12:00:00Z https://www.munichre.com/topics-online/en/2011/02/interview-arnoldussen Thu, 07 Apr 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/02/interview-arnoldussen 2011-04-07T12:00:00Z https://www.munichre.com/topics-online/en/2011/02/menhart-column The Lehmann collapse, the financial crisis, the euro crisis, the earthquake and nuclear disaster in Japan – unexpected catastrophes, crises and shocks seem to be dominating the course of world events. A few weeks ago, however, virtually the whole world was hoping for a positive outcome from at least one unexpected development. After the events in Tunisia and Egypt, many people were confident that we would see changes in the Arab world like those in eastern Europe after the Berlin Wall came down. Thu, 07 Apr 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/02/menhart-column 2011-04-07T12:00:00Z https://www.munichre.com/topics-online/en/2011/02/nord-stream Wiechers’ answer to the question as to how he became an underwriter for offshore risks generally comes as a surprise to many people. “When I started at Munich Re in 1997, I didn't really know what an underwriter was”, Wiechers confesses. Up till then, he had worked as a plant engineer for the oil and gas industry and had had absolutely no contact with the world of reinsurance. In search of a new challenge, however, Wiechers decided to apply for the job as a specialist for offshore risks business – a leap into the unknown. Thu, 07 Apr 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/02/nord-stream 2011-04-07T12:00:00Z https://www.munichre.com/topics-online/en/2011/02/wind-energy Munich Re’s new coverage concepts are designed to take a good deal of the burden off the energy industry’s balance sheets. Underwriter Michael Schrempp played a key role in drafting a cover for serial losses involving wind power plants. The scope of cover offered by this solution is unique. Thu, 07 Apr 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/02/wind-energy 2011-04-07T12:00:00Z https://www.munichre.com/topics-online/en/2011/01/mental-illness Tue, 08 Feb 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/01/mental-illness 2011-02-08T12:00:00Z https://www.munichre.com/topics-online/en/2011/01/topics-geo-natcat The earthquakes in Chile, New Zealand and Haiti confronted the insurance industry with a variety of challenges due to the different standards of development in the countries concerned. The efficiency and scale of settlement depended to a large extent on each country's insurance density and legislative framework. Tue, 08 Feb 2011 12:00:00 GMT https://www.munichre.com/topics-online/en/2011/01/topics-geo-natcat 2011-02-08T12:00:00Z