Lawyers at Munich Re

At Munich Re, there is a very broad range of opportunities open to lawyers, from claims investigation and underwriting to traditional responsibilities in our Group Legal Division or in Human Resources.

Range of activities

Munich Re offers lawyers special challenges in underwriting and claims. As reinsurance underwriters, you identify the risk to be insured, calculate the requisite premium and establish the share to be reinsured and type of reinsurance. Legal competence is required especially with regard to all criteria of legal relevance. For instance, does product liability cover the product defect, consequential loss or both? Are stockbrokers liable for the success of their investment counselling? Many fascinating tasks await you in the field of reinsurance treaty design – thus far a largely unploughed field.

At Munich Re, claims lawyers face a vast array of challenges, and they require a great deal of legal training and experience paired with interdisciplinary expertise. Claims lawyers are in close contact with clients all over the world with the aim of optimising the underwriting of risk. They initiate, plan, realise and monitor the claims service products they develop. Their objective is to limit Munich Re’s claims expenses for justified claims payments and to provide clients with advice on strategies for minimising loss. In addition, they have internal tasks to attend to, such as checking claims notifications that are conspicuous both from a legal and underwriting point of view. With their expertise, lawyers provide counsel to the heads of claims departments and recommend solutions that are fair to all parties involved.

Other tasks

• Assessing external loss portfolios
• Performing reviews, either for the purpose of commuting treaties if the run-off is transparent or if commutation is economically prudent and appropriate for other reasons
• Carrying out intra-group claims reviews
• Building up and maintaining a know-how pool for all topics of legal relevance (knowledge management)
• Reporting significant loss developments to underwriters

Requirements

Depending on the position involved and job advertised, Munich Re places considerable demands on lawyers. The qualification profiles are just as varied as the spectrum of tasks in reinsurance. The main qualification is a degree in law. In addition, they should have acquired practical experience in a law firm or in primary insurance or reinsurance. Lawyers at Munich Re must be prepared and in a position to familiarise themselves with complex legal and economic issues and to travel. To do so, they must have excellent communication and team skills, dedication and the ability to work under pressure, as well as an outstanding command of English and, ideally, proficiency in another foreign language.