Not if, but how
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About Munich Re
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The corporate group consists of the reinsurance and ERGO business segments, together with the capital investment company, MEAG. The Group operates in all lines of insurance. Ever since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its particularly sound financial position. It also offers its clients financial protection when faced with extraordinarily high levels of damage – from the 1906 earthquake in San Francisco right through to the series of Atlantic hurricanes that occurred in 2017. Munich Re possesses outstanding innovative strength, which enables it to also provide cover for extraordinary risks such as rocket launches, renewable energies, cyber attacks or pandemics. The company is playing a key role in driving forward the digital transformation within its industry and in doing so is increasing its ability to assess risks and expanding upon the range of services that it offers. Its tailor-made solutions and close proximity to its clients make Munich Re one of the world’s most sought-after risk partners for the economy, institutions and private individuals.

One Quake

Comprehensive and rapid response to earthquakes

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What is One Quake?

It is impossible to predict when the next seismic event will occur. Traditional insurance solutions often only provide financial relief following a lengthy claims settlement process, leaving companies and organisations with cash flow problems. Besides this, there are often significant gaps in coverage especially for costs associated with the event. One Quake by Munich Re closes these gaps with a tailor-made solution characterized by an unprecedented level of transparency and a very simple payout process.

What One Quake can do for your business

The new parametric trigger cover is specifically designed for seismic events. It is highly customizable and allows you to pre-define triggers and payout amounts up to US$ 5 million (or higher on request) per location or defined area.

Key advantages of One Quake

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:
With One Quake previously uninsurable costs arising from Earthquake can be covered – such as evacuation expenses, loss mitigation costs and other costs hard to insure traditionally. The product can cover insurance gaps you currently have 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 an 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.

How One Quake works

In close cooperation with our experts from Corporate Insurance Partner, you can customize your preferred payout pattern, by choosing specific locations and parametric triggers to suit your individual exposures. Payout is triggered automatically when a specified intensity is exceeded at a certain location. To ensure immediate and sufficient liquidity following an event, payment is only adjusted later to match the actual loss amount.

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One Cat solutions
Cover when you really need it - Munich Re’s One Cat solution concept offers tailor-made parametric cover with a very simple payout process.
One Storm
When a tropical cyclone strikes, relief is required immediately. Experience the benefits of One Storm, a new highly customizable parametric trigger solution that focuses specifically on tropical cyclones.
            
For further information, please contact:
Munich Re Experts
Stefan Mathijssen
General Contact & Product Manager
Tel.: +65-63180461
Oliver Quast
Property
Tel.: +49 (89) 3891-2215
Fabrizio Zoni
Energy
Tel.: +49 (89) 3891-5372
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