Not if, but how
© Getty Images/Science Source
About Munich Re
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. Corporate Insurance Partner (CIP) is a dedicated unit of Munich Re, providing individual solutions for medium-sized and large industrial clients. By combining the in-depth industry know-how of our experts and our ability to provide high net capacity with the strong financial solidity of Munich Re, we are able to deliver traditional and innovative risk-transfer solutions to today's – and tomorrow's – market needs.

One Storm

Comprehensive and rapid response to tropical cyclones

What is One Storm?

Hurricanes, typhoons and tropical cyclones regularly bring with them extraordinary losses. When such events strike, relief is required immediately in order to prevent cash flow problems. Traditional covers often leave gaps in costs associated with restoring to the pre-event level. To close these gaps, Munich Re has developed One Storm, a tailor-made product with an unprecedented level of transparency and a very simple payout process.

What One Storm can do for your business

One Storm is a new parametric trigger solution specifically for tropical cyclones. 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 Storm

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 Storm previously uninsurable costs arising from tropical storm 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. In addition, storms can be assessed easily directly after an event on our dedicated website. The site enables you to determine whether a trigger has been activated by providing wind speed and storm location data from publicly available sources. Try it for yourself at onestorm.munichre.com.
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 Storm 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.

Download brochure

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 Quake
When an earthquake strikes, relief is required immediately. Experience the benefits of One Quake, a new highly customizable parametric trigger solution that focuses specifically on seismic events.
         
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
Print