Covers and services for construction and erection projects
We develop insurance solutions for ambitious engineering projects to succeed
Made-to-measure risk transfer solutions and services to meet your needs
Our experts work closely with clients to identify the optimal solution. They consider every engineering project a new challenge. Around the world, Munich Re employs about 200 engineers in underwriting and claims management. They draw on their many years of experience in engineering to develop client-specific cover solutions – at the interface to insureds, brokers, local insurers and clients.
Experts from Munich Re often play a key role in ensuring that ambitious, large-scale projects succeed. Our experts, with their technical, mathematical, legal and economic competencies and backed by the financial strength and stability of Munich Re, create optimal conditions for the projects' success. They maintain close contact with you – before, during and after construction and on site as well. Detailed risk assessments during contract performance help to avert losses and keep the parties involved on schedule.
Munich Re Facultative & Corporate (F&C) brings together our worldwide facultative and corporate business in one unit.
Our offerings for large-scale building projects
Overview of services
- Customised insurance solutions
- Standardised or tailormade wordings and endorsements
- Covers and services such as the assessment of NatCat risks
- Risk management and risk assessments
- Underwriting services
- Claims management
- Engineering seminars for clients at our Munich headquarters and branch offices around the world
Operational damage covers
- MB: Machinery breakdown cover for plant and machinery
- CMI: Comprehensive machinery insurance: machinery breakdown, covering plant and machinery against internal and external loss or damage, also due to natural catastrophes
- CECR: Civil engineering completed risks: Cover for completed motorways, tunnels, bridges and rail traffic systems
- MLoP: Machinery loss of profits insurance
- ALoP/DSU: Advanced loss of profits/delay in start-up
Contractors' and erection all risks
- CAR: Contractors' all risks, e.g. for infrastructure projects, such as roads, bridges, tunnels, airports, harbours, hydroelectric power stations, dams and mines
- EAR: Erection all risks: industrial plants, refineries, power plants, steel mills, cement factories
- CPI: Comprehensive project insurance: CAR and EAR combined in a single policy
- Decennial liability
- Offshore risks
- Special Enterprise Risks
Customised solutions for performance guarantees and extended warranties for the renewable energies sector, e.g. cover for serial losses, lack of wind and offshore logistics in the wind-energy sector
Ambitious engineering projects require comprehensive technical know-how about insurance – across all lines of business. Risks follow a project throughout its entire life cycle. In addition, permanently changing frameworks require ongoing training and an intensive exchange of ideas if the insurance business is to remain in step with the latest trends.
Munich Re has been offering seminars for more than forty years. Our engineering programme focuses on a wide range of topics, such as the construction of energy and water utilities, tunnels, roads or bridges. Coverage concepts for construction and operational phases are presented and discussed. Visits to large construction sites bring home the importance of on-site risk management and a solution-focused approach.
A selection from our engineering programme:
- Management and underwriting of engineering risks
- Dealing with risks of large infrastructure projects and industrial plants
- Special coverage concepts for projects under construction and in operation
- Application of Munich Re risk rating tools
- Geo intelligence in the management of natural hazards
- Risk inspections of large construction sites
5 reasons why you should talk to us
You need a specific engineering insurance solution for the construction/erection phase of a technically ambitious project.
Find a customized engineering solution that fits the purpose.
We combine broker-driven and direct engineering business activities. Our focus is on construction and erection projects, such as roads, bridges, tunnels, mines, chemical plants, refineries and every type of power generation plant.
We offer comprehensive engineering insurance solutions, such as CAR, EAR and DSU. While your projects might be complex ones, involving financial and technical challenges, we will ensure things run smoothly as possible. Rely on one contact partner, one business approach and one underwriting philosophy.
You want to talk to insurance experts that understand the specifics of your engineering project in technical depth.
Discuss your project with an expert who understands what you need.
At Munich Re, we walk the walk: Most of our engineering experts have worked as engineers in the field. Based on their practical experience and insurance knowledge, they understand the language of your technical experts, project managers and the construction workers on site. This is an invaluable asset, since our experts know to ask the right questions and know how and what to look for to mitigate risks – before they slow down your project or increase costs.
In addition, you can benefit from the expertise of Munich Re's worldwide (multilingual) engineering network. Using such synergies means better consulting and support for your projects.
You want a partner on the insurance side you can rely on in the long term.
Choose to work with an insurance partner with staying power.
Our approach is backed by outstanding financial capacity and demonstrated excellence. We write and retain lead lines and benefit from low employee turnover. This means that our clients can benefit from both financial resources and human capital. Our company history of over 130 successful years clearly demonstrates our ability to withstand critical financial phases.
You need active risk management advice during construction.
Mitigate risks before they happen.
During construction projects, owners and insurers have one mutual motivation: to keep the project duration and costs as planned. As we all know, this can be quite challenging because construction projects are complex, and many technical details can delay projects and inflate costs.
Since our experienced staff may have dealt with similar projects in other parts of the world, this knowledge on the site often helps to mitigate risks before damage can occur. Our experienced risk experts accompany your risk management and help you achieve your project goals with in-house and external risk engineers.
You want our underwriters to support you with potential claims settlement.
Rely on our claims settlement expertise.
We are fully behind you — even should the worst come to the worst: Our underwriters always stay in charge of their account and are part of potential claims settlements. Their technical expertise and our overview of other cases can prove invaluable in settling your claims.
Insuring mega projects worldwide
Some of the largest infrastructure projects ever undertaken have relied on the broad experience and holistic risk assessment of Munich Re experts.
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About Munich Re Facultative & Corporate
Learn more about what we can do for you and discover the full portfolio.