Property

Turning challenging risks into opportunity and delivering value where others cannot.

Thought leadership

Expertise, problem-solving, and the ability to handle challenging property scenarios

Munich Re Specialty – North America, Specialty Property offers comprehensive solutions through deep expertise, Munich Re’s strength and reputation, and a collaborative partnership approach. We transform complex risks into opportunities by providing flexible, intelligent underwriting across diverse property segments, nimbly delivering value where others cannot.

We offer:

Business property insurance specifically tailored for individual risks
Forms: ISO-based and manuscript
Policies available: 100% ground up, primary, quota share, and excess

Expertise

The Specialty Property team is embodied by high-caliber underwriting with deep industry knowledge and the ability to provide specialized property solutions.

Stability

Rooted in our connection to Munich Re’s robust financial strength, the team demonstrates consistency by maintaining market presence during challenging periods, implementing thorough internal review processes, and making decisions with long-term integrity. Our commitment extends beyond individual transactions, considering wider implications and maintaining a steady, reliable approach to property insurance.

Partnership

We transcend traditional transactional relationships by engaging with brokers and focusing on collaborative problem-solving and consistently seeking ways to support clients’ broader business objectives. This approach is characterized by flexibility — when one solution isn’t possible, we proactively explore other paths. Our structure enables more comprehensive support, allowing brokers to access a unified, responsive resource that prioritizes finding workable solutions.

Primary property insurance

Target classes

Commercial real estate

Foundries

Hotels

Manufacturers

Vacant and unprotected properties

Excluded classes: Dealers open lot, stock throughput, ocean or inland marine, builder’s risk, petrochemicals, crop growing, flammable liquid workers. Our Global Markets team provides coverage for inland marine and ocean marine.

Coverage details

$25m capacity per risk
$10k minimum AOP deductible
$25k minimum flood/earthquake deductible in each occurrence
$25k minimum premium
$1 billion maximum total account insured value
Coverage enhancement and broadening forms available
Monoline flood/earthquake and DIC coverage
Coverage available for town protection classes 7-10
Shared and layered capacity
Deductible buyback coverage

Exclusions: fronting, reinsurance of captives or risk pools, facultative reinsurance

Rescuers search through ruins of building

Excess property insurance

Target classes

Commercial real estate

Food production/processing

Foundries

Habitational

Hotels

Manufacturers

Woodworker/sawmill

Vacant and unprotected properties

Coverage details

$25m capacity per risk
$10k minimum AOP deductible
$25k minimum flood/earthquake deductible in each occurrence
$25k minimum premium
$1 billion maximum total account insured value
Coverage enhancement and broadening forms available
Monoline flood/earthquake and DIC coverage
Coverage available for town protection classes 7-10
Shared and layered capacity
Deductible buyback coverage

Exclusions: fronting, reinsurance of captives or risk pools, facultative reinsurance

Public entity property insurance

Target classes

Schools

including higher education and charter

Municipality

Not-for-profit

Tribal, including casinos

Government housing

Coverage details

$12.5M capacity available per risk
Shared and Layered
Unlimited TIV
Monoline Flood/Earthquake and DIC coverage
Reinsurance of Captives or Risk Pools, and Facultative Reinsurance

Exclusions: Fronting Insurance

Claims scenarios

Shipyard storm preparation

A shipyard located in an evacuation zone was required to move some of their sensitive equipment in preparation for an imminent storm. Because the company had comprehensive Property insurance tailored to its needs, they had complete insurance coverage for the relocation of the equipment.

Hurricane at the hotel

A hotel was destroyed by a hurricane. Since the hotel had Property insurance, they were covered for loss of business income, the cost to remove debris and rebuild, as well as the cost to replace damaged business equipment.

Electrical fire incident

The main electrical switchgear for a building experienced electrical arcing. The staff sprayed chemical fire extinguishers on it to prevent fire, but this did not stop the arcing. The switchgear and cabling were destroyed, requiring complete replacement. Since the building owner had Equipment Breakdown coverage, the $90,000 cost of replacement was covered.