Tag: equipment breakdown insurance

Equipment Breakdown Responsible for Nearly One-Third of All Property-Related Losses in 2018

Liquid cheese at production line.

Equipment breakdown now rivals fire loss in both frequency and severity of claims, according to an analysis of large risk losses reported in 2018 to commercial property insurer FM Global. Large risk losses are those losses greater than $3 million that do not include natural hazard loss. Of the company’s 232 large risk losses last… Continue reading Equipment Breakdown Responsible for Nearly One-Third of All Property-Related Losses in 2018

Munich Re Acquires Tech Company Relayr

Munich Re is taking a further key step to create new business models in the industrial Internet of Things (IoT). The Group will acquire the software company relayr via its subsidiary, Hartford Steam Boiler (HSB), and will therefore play an active role in shaping business opportunities in this rapidly expanding sector. From an initial consultation… Continue reading Munich Re Acquires Tech Company Relayr