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Munich Re, US
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Welcome to the official Google+ page of Munich Re (US), one of the world’s leading risk carriers. http://www.munichre.com/en/service/imprint.aspx
Welcome to the official Google+ page of Munich Re (US), one of the world’s leading risk carriers. http://www.munichre.com/en/service/imprint.aspx

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Older Drivers Embrace Active Safety Features; Resist Autonomous Vehicles, According to Munich Re, US Survey

Older drivers are increasingly comfortable with and recognize the benefits of active safety technology, but they are still reluctant to relinquish total control to an autonomous vehicle, according to a nationwide survey by Munich Re, US of drivers age 65 and older.

Approximately two out of three (63 percent) of drivers over age 65 intend to purchase their next vehicle with active safety technology. Blind spot detectors (51 percent), a backup camera (43 percent) and automated braking (31 percent) were identified by senior drivers as the most sought after features. Of those surveyed, 44 percent said they would be willing to pay more for a vehicle with active safety features if the added cost is less than $5,000.

Read more: https://t.co/Q9YXO3lzY6
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What does an innovation culture at Munich Re, US look like? Tony Kuczinski sat down with us to discuss his vision of the type of culture we need to drive change and innovation, and what we’re doing to get there. https://youtu.be/RsGKCWTW_j0

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As we mark our centennial, we begin the next century focused on one thing: what’s ahead. Our Innoversary Day was filled with seminars, activities, and workshops to get the creative juices flowing and promote new and diverse ways of thinking. People from across the company joined our launch event virtually and hundreds attended our Expo and sessions in person in Princeton to learn, think, and create together. 

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Global natural catastrophe losses highest in four years / 160 North American loss events are most since 1980

A number of devastating earthquakes and powerful storms made 2016 the costliest twelve months for natural catastrophe losses in the last four years. Losses totalled US$ 175bn, more than two thirds above the previous year and nearly as high as in 2012 (US$ 180bn). Uninsured losses remained substantial at 70%. Insured losses came to US$ 50bn.

North America was hit by more loss events in 2016 than in any other year since 1980, with 160 events recorded, and accounted for US$ 55bn, or 33%, of nat cat losses worldwide (long-term average 39%). Of the year's overall losses in North America, 54% were insured (long-term average 44%). The most serious event in North America was #HurricaneMatthew, which caused approximately US$ 10.2bn, with over a third of this figure insured.

"To mitigate the risks of natural catastrophes, we continue to support strong public - private partnerships that encourage and facilitate greater investment in pre-loss mitigation and improved infrastructure resilience," said Tony Kuczinski, President and CEO of Munich Re, US. "These factors have the potential to significantly reduce the costs of natural disasters, as well as the social and economic impact on families and communities. To this end, we are hopeful that the incoming President (and his administration) follow through on his campaign commitment to rebuild infrastructure in the US, and that this is done with resiliency in mind."

Read more:
http://bit.ly/2hQkT2q (http://bit.ly/2hQkT2q)
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Munich Re’s Karsten Herrmann sworn in as member of inaugural Trade Finance Advisory Council (TFAC) http://www.businesswire.com/news/home/20161121005007/en/Munich-Re%E2%80%99s-Karsten-Herrmann-sworn-member-inaugural

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Hurricane Matthew was the largest tropical storm to hit the Southeastern US in over a decade, causing potentially billions of dollars in insured losses and threatening National Flood Insurance Program, which recently announced it would acquire reinsurance. Munich Re's Michael Quigley, Head of Property Underwriting, says reinsurance provides FEMA with another tool to protect the tail risk in the NFIP. He believes it will allow for more stable delivery of flood insurance so it is there when they need it. http://bit.ly/2e7qTh4

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Winds and heavy rain from Hurricane Matthew are expected to cause significant damage as the storm moves along its path over the next week. As it ravages neighboring countries and heads towards the east coast, we are reminded of the need to be "weather ready" here and around the globe.

While we cannot stop or alter the path or power of hurricanes, we can build homes and businesses that are more resilient to the forces of the hurricane. Actions such as sitting buildings on higher elevations away from the coast, is one step we can take. Building stronger structures that withstand the impacts of high wind speeds is another valuable step people can take to protect themselves and become more weather ready. Significant research is being conducted on building design, practice and materials to devise ways to build stronger buildings, while organizations such as the Insurance Institute for Building and Home Safety (IBHS) are applying this research into a building design standard called "Fortified". The National Institute of Building Sciences has conducted a study that shows there is a $4 dollar savings from every $1 dollar invested in mitigation. We know what to do, and the value of building more resilient homes and businesses, and we know it can save lives.

Munich Re firmly believes that our society needs to improve our weather readiness. We also believe that education is one of the first steps that must be taken. People need know and understand the problem, but even more importantly, they need to know the steps that can be taken to make our homes and businesses stronger and more resilient. Munich Re has worked with the IBHS to develop an easy to use tablet app built for the Apple iPad that shows the user how to Fortify their home. It is an easy to use "free" tool that simply shows the homeowner, the builder and the contractor, what to do and how to do it. We must take these steps to make our homes and communities safer from the effects of these severe weather events. Learn more at http://www.munichreamerica.com/fortified

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Today, Americans in all 50 states and territories, hold more than five million flood insurance policies guaranteed by the U.S. government through the National Flood Insurance Program. The program has been challenged, however, as the power and frequency of floods have been rising since Hurricane Katrina ravaged the Southern coast in 2005, the 2008 floods devastated the Gulf Coast and Midwest, and Hurricane Sandy raked the East Coast in 2012. To help put the flood insurance program on a firmer long-term financial footing FEMA is launching a Reinsurance Initiative. Munich Reinsurance America, Inc., with brokerage support from Guy Carpenter and Company, is honored to be a part of this historic first-ever reinsurance purchase made by FEMA and the U.S. government. It signals the reinsurance market’s interest in bringing capacity and expertise to the flood insurance space, as well as moving risk from the public sphere to the private market.

Learn more about the initiative at http://www.fema.gov/blog/2016-09-21/testing-new-tool-strengthen-flood-insurance

Learn more about another of Munich Re’s flood products: https://www.munichre.com/us/property-casualty/business-solutions/innovation/solutions/reinsurance-flood/index.html

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Based on social impact, business results and innovation, Munich Re was named one of Fortune Magazine's "Change the World" companies. In a recent interview with Fortune, Munich Re's Jen Ughetta, Head of Regional Human Resources shares what Munich Re looks for when hiring employees.

"People who thrive here embrace innovation but still have healthy appreciation for how to manage risk," said Jen.

Read more: http://fortune.com/2016/08/19/companies-change-world-hiring-jobs/

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W/weekend #flooding on east coast & possibility of more today, what can you do before, during & after #flood? http://bit.ly/1XfCH11 #FloodMR
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