rescue man with dog searching for humans in a destroyed building

One Cat

Comprehensive and rapid response to natural catastrophes

Cover when you really need it

When a devastating natural catastrophe strikes, companies and institutions need their insurance claims to be settled quickly in order to avoid cash flow problems. Traditional covers often only respond after lengthy claims adjustments, and leave gaps in costs associated with restoring to the pre-event level. To close these gaps, Munich Re has designed “One Cat”, a tailor-made solution concept with an unprecedented level of transparency and a very simple payout process.

After a natural disaster swift and comprehensive reaction is key. Therefore Munich Re has developed new parametric solutions such as One Storm and One Quake. These products are triggered when the severity of a tropical cyclone or earthquake reaches a pre-defined wind speed or quake magnitude in a certain area. Payment follows immediately, and is only adjusted to the actual loss at a later stage.

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Key advantages of our One Cat covers

Speed

Parametric triggers ensure rapid recovery thanks to a simple and quick payout process that provides liquidity when you need it most. No physical damage is required.

Closing gaps

Previously uninsurable risks arising from natural catastrophes can be covered – such as evacuation expenses, loss mitigation costs and other costs hard to insure traditionally. The product is easily customizable and allows you to limit your risk in a cost-efficient manner.

Unprecedented level of transparency

Pre-agreed independent third parties provide the data needed to trigger the cover - this information can be accessed immediately after the event.

No deductibles

Parametric products typically don’t have a deductible, so there is no financial commitment from your side once all triggers have been met.

Reduced claims-related expenses

The simplicity of the payout process substantially reduces administrative costs.

With Munich Re’s One Storm and One Quake, our clients can specify triggers and payouts of up to US$ 10 million (or higher on request) per location or defined area.

One Storm Parametric storm cover

One Storm is a new and fully customizable parametric trigger solution especially for tropical cyclones. It allows you to determine your own pre-defined triggers and payout amount. Should a tropical cyclone in a certain area exceed specified wind speeds, a payout is triggered. Tailor-made patterns ensure that the cover is suited to your individual exposures. Read more

One Quake Parametric earthquake cover

Should the intensity of an earthquake in a certain area exceed an agreed threshold, Munich Re pays out according to a pre-defined pattern. Different levels of payout can be agreed for different quake intensities and can be based on several variables, e.g. distance from epicentre, depth of EQ and/or the soil conditions, depending on your specific needs. Read more

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