Munich Re Specialty has launched a parametric earthquake solution for corporate clients in Japan through the Lloyd’s Japan platform.
The specialist P&C insurance arm of Munich Re Group said the product aims to offer liquidity funds post-event, supporting recovery and continuity even if there is no physical damage.
Japan experiences around 1,500 noticeable earthquakes each year, creating operational disruption and supply chain interruption, the company said.
The product is backed by Munich Re Capital Partners, the group’s alternative risk transfer business. It also uses data from Kik-net and K-NET, Japan’s seismic monitoring stations.
René Mück, global head of parametric natcat at Munich Re, said: “By combining local market understanding with our global natural catastrophe parametric capabilities, we can help Japanese clients quantify complex exposures and close protection gaps with solutions designed for clarity and speed.”
People:René Mück