Property insurance

Munich Re Specialty delivers Commercial Property coverage for unique, hard-to-place risks in North America.

Our broad risk appetite and underwriting expertise allows us to offer a broad array of insurance solutions for everyday commercial risks as well as disaster-related impacts. We respond quickly, creatively, and flexibly to market cycles.

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

• $25m capacity per risk
• $10k minimum AOP deductible
• $25k minimum flood/earthquake deductible in each occurrence
• $25k minimum premium
• $500m 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

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.