Munich Reinsurance America, Inc. - Corporate Responsibility - Sustainable Development

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Sustainable Development

Natural catastrophes are becoming more costly to the insurance industry and the economy as a whole. According to Munich Re data, insured losses from significant U.S. natural catastrophes have almost doubled over the past two decades. Much of the increase in losses can be attributed to socioeconomic trends, including increased building along coastal areas.

We are committed to developing solutions for our clients’ and society’s catastrophe-related risks. Our focus is on sustainable, responsible development, and that is why we support the efforts of the Institute for Business & Home Safety (IBHS) in their efforts to reduce costs and save lives in the event of natural disasters.
 

Institute for Business & Home Safety

 
The IBHS is an independent, nonprofit, scientific and educational organization supported by the property insurance industry. Munich Re is a member company, and Carl Hedde, Head of Risk Accumulation at Munich Reinsurance America, Inc., serves on the organization’s board of directors.

 
IBHS works to reduce the social and economic effects of natural disasters and other risks to residential and commercial property by conducting research and advocating improved construction, maintenance and preparation practices.

 
We are especially proud to be among the leaders of the global property insurance industry who are founding members of the Institute’s new state-of-the-art, multi-peril Research Center in South Carolina. The Research Center’s mission is to identify, objectively evaluate, and promote effective methods of property loss reduction and prevention. 


Testing conducted at the IBHS facility will help to establish clear, scientifically sound benchmarks for disaster-resistant design and construction of buildings, as well as helping to refine current product and system testing standards. The applied research will demonstrate the value, effectiveness, and affordability of better-built structures, as well as enhancing property risk modeling by strengthening the critical relationship between theoretical and actual building performance. 


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