Updated Underwriting Guidelines on Coal-fired Power Plants and Thermal Coal Mining Sites
07/29/2022
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As part of the annual updates to our underwriting guidelines, Munich Re has amended its 2018 “Policy on coal-fired power plants and thermal coal mining sites”. The review process for possible exceptions for under-electrified countries has been deleted with this year's update, as there has been no such exceptions since the policy came into force. With effect from 1 August 2022, in our primary insurance and facultative and direct (re)insurance business, we no longer insure single location standalone risks in the planning, financing, construction or operation of new thermal coal mines, power plants and the associated infrastructure where construction, preparatory works for the extraction or operation has not started before September 1st 2018. Multi-location covers will be treated like single location risks, if the majority of locations or insured values qualify as new.
