Strong visions, good connections Let s talk about innovative risk solutions for your tunnel projects
TARGETED SOLUTIONS Insurance covers tailored to your needs Covers at a glance The international engineering teams of the divisions named Corporate Insurance Partner of Munich Re (Group) are leaders in their sector. They draw on industry experience and a profound understanding of the risks inherent in construction projects civil, industrial, oil and gas and plant operating life cycles. Our portfolio includes major underground works projects across the globe. Contractor s all risks (CAR) or comprehensive project insurance (CPI) Delay in start-up/advance loss of profits Marine cargo, insuring transportation of materials and machinery Construction machinery Third-party liability insurance: cover of legal liability arising out of accidental loss or damage directly related to the project Project-specific professional indemnity
CLIENT-BENEFIT DRIVEN Expertise to drive your projects forward Our experts have the knowledge and experience to help you fully understand and manage the risks involved in underground works and tunnelling and move forward with your projects. Your benefits at a glance: Highly specialised tunnel engineering expertise Proactive risk mitigation ahead of your project Tailored insurance to cover costs in the event of an incident Swift and effective support in getting your project back on track Short and direct channels of communication and decision-making A result-oriented and foresighted approach The globally networked and interdisciplinary resources of a worldwide market leader The financial solidity of Munich Re (Group) Tunnels for rail, car or pedestrian traffic, for utilities, or for other underground infrastructure the demand for tunnelling projects is greater than ever. Especially in today s fast-growing major cities, the lack of space and the need for transport links are giving rise to more and more ambitious underground construction. Because they are often carried out in densely populated urban environments and encounter challenging subsoil conditions, tunnelling projects face exceptional risk exposures. This is reflected in the large-scale incidents the sector has experienced in recent years. Safety, timely delivery and cost effectiveness are key success factors in realising tunnelling projects. This can only be achieved with an experienced and professional team and by implementing professional risk management strategies. In its Corporate Insurance Partner division, Munich Re (Group) pools specialised engineering know-how backed by the financial strength of the risk carriers of a globally leading reinsurer. Our tunnelling experts speak your language, and can provide you with tailor-made risk-transfer solutions to cope with even the most complex challenges in your tunnel projects.
DEEP INSIGHTS Getting to the bottom of tunnelling risks The uncertainties involved in underground works and tunnelling are manifold and multifaceted. Regardless of the construction method used open cut, cut and cover or closed face and the expertise of project owner, designers and contractors, risks like collapse, flooding, fire, explosions or failure of machinery can never be entirely ruled out. As diverse as these scenarios are, they all have one aspect in common: when a tunnelling project does not go as planned (e.g. a collapse occurs), measures to get it back on track are complex, costly and time-consuming. In addition to mitigation efforts to stabilise the ground and surrounding area and by that avoiding damage to third-party properties, further subsoil investigations and re-design are often inevitable. As a result, delays tend to be considerably longer than in other types of construction projects the average delay arising from 14 major tunnel incidents over the past decade exceeded 19 months. With Munich Re at your side, you can take a proactive approach to managing these risks and move forward with your project. As underwriters of many of the largest underground works and tunnelling projects worldwide, we provide in-depth knowledge and experience in relevant construction methods, geological conditions and resulting exposures. In addition, we give you access to risk assessment services like the nat cat studies of the Munich Re Geo Risks Research unit. And as Munich Reinsurance Company is the author of numerous publications on underground works and an important contributor to the internationally recognised Code of Practice for Risk Management of Tunnel Works, we can offer you key support in minimising your risk exposure from the outset. SAMPLE OF PROJECTS Marmaray Project (Turkey) Metro Budapest (Hungary) Metro Copenhagen (Denmark) Stockholm Metro (Sweden) Hallandsas Railway Tunnel (Sweden) Lake Mead Project (USA) Niagara Tunnel (Canada) Kowloon Canton Railway Corporation (Hong Kong) Mass Transit Railway (Hong Kong) Land Transport Authority (Singapore) Metro Shanghai (China) Chongming Crossing (China) Brisbane AP Link (Australia) Adelaide Desalination Project (Australia) Nam Ngum Hydropower Project (Laos) Palomino Hydropower Project (Dominican Republic) Sogamoso Hydropower Project (Colombia) Olmos Hydropower Project (Peru) Lesotho Highlands Water Development Project (Lesotho) Gautrain Project (South Africa)
MUNICH RE Corporate Insurance Partner When you face the unknown, it s good to have a known partner at your side. Corporate Insurance Partner are lean divisions of the Munich Re risk carriers staffed by specialists in each of the industries we serve. In five departments, our experts draw on industry know-how backed by the global experience and substantial capacity of Munich Re. Our innovative drive, research capabilities and know-how place us in an ideal position to support industrial companies in overcoming the unknowns they face. That s why many of the world s top 5,000 enterprises and other leading players operating in various countries rely on us for traditional and non-traditional liability and property covers. We operate in the following departments: Property Energy Engineering Casualty Special Enterprise Risks Close to major markets Corporate Insurance Partner is the name of different teams of various companies: Munich Reinsurance Company, with its branches in Paris and Singapore, Great Lakes Reinsurance (UK) PLC, Munich Reinsurance America, Inc. and Munich Reinsurance Company, UK General Branch. With offices in Munich, London, Paris, Singapore and the US, and our ongoing cooperation with other international units of Munich Re, we are close to our clients. About Munich Re Munich Re is a global group operating in all lines of reinsurance and primary insurance via different risk carriers. Our strategy is aimed at generating value for clients, staff and shareholders, based on technical know-how, portfolio diversification and earnings stability. By systematically applying our specialised expertise and interdisciplinary knowledge to gain deep insights into risks, we consistently deliver innovative and forward-looking solutions our clients can count on. With a workforce of around 47,000 at more than 50 locations worldwide, the Group generated premium income of some 41bn in the financial year 2009, approximately 25bn from reinsurance alone, achieving a profit of 2.56bn. Munich Re is one of the world s leading reinsurers. YOUR CONTACT PARTNERS Europe, South America and Africa Hartmut Reiner Senior Underwriter +49 89 38 91-26 46 hreiner@munichre.com Munich Reinsurance Company Am Münchner Tor 1 80805 München Germany London Market North America Heiko Wannick Underwriting Manager +44 20 30 03-73 65 hwannick@munichre.com Franz Vogt Underwriter +1 609 2 43-47 06 fvogt@munichreamerica.com Munich Reinsurance Company, UK General Branch Plantation Place 30 Fenchurch Street, London EC3M 3AJ United Kingdom Munich Reinsurance America, Inc. 555 College Rd East Princeton, NJ 08543-5241 United States Asia and Pacific Swen Vetters Underwriter +65 6 318 0773 svetters@munichre.com Munich Reinsurance Company Singapore Branch Singapore, 20 Collyer Quay, # 13-01 Tung Centre, Singapore 049319 Singapore
Risk Solutions 2010 Münchener Rückversicherungs-Gesellschaft Königinstrasse 107, 80802 München, Germany Order number 302-06363