Business Solutions

Property lines are predominantly written in the industrial sector. Protection against Fire, Business Interruption and Machinery breakdown are considered to be standard business classes. They are usually combined with covers against natural perils such as flood, earthquake and/or hurricanes.

Depending on the characteristics of the risk, specialised products can be purchased. These may encompass covers against terrorism, reinsurance solutions for specific industry sectors (i. e. agricultural risks) or activities included within these branches.

Engineering covers offer a similar protection as property covers, but are adjusted to the requirements of the construction industry.

In both cases - property and engineering - the policy can encompass either individual perils or offer a full protection against any kind of risks (All risk policy / Construction All Risk policy / Erection All Risk policy). In the latter case, the exclusion list determines the scope of cover.

Standard casualty business is highly influenced by the jurisdiction in the respective countries. Consequently, the scope of cover differs materially between the USA, Europe and the rest of the world. We offer a number of specific casualty classes. General Liability, Public Liability, Products Liability, Environmental Liability, Directors' and Officers' Liability as well as Professional Liability for specific sectors (i. e. financial institutions) or professions (lawyers, architects, physicians, etc.) complement the local standard liability cover. Some of them appear under their label Errors & Omissions also in our Centre of Competence Financial Lines. Further classes of business that we offer are Motor Liability, Workmen's Compensation, Product Recall or Product Guarantee.

Apart from offering cover in the traditional property and casualty lines we have developed Centres of Competence which reflect our particular expertise in certain lines of business.

Hannover Re disposes of expert knowledge in the lines Energy On- and Offshore including the corresponding construction and liability covers, Financial Lines and Inherent Defects Insurance.

Energy Onshore consists of the classes of business Oil & Gas, Mining and Power Generation while Energy Offshore (incl. Construction offshore) deals i. e. with risks related to the oil production. A more appropriate distinction would be a separation into upstream (=extraction) and downstream (= processing), as i. e. oil production does not necessarily take place on the sea. Renewable Energy is a field which is currently gaining more and more weight in our underwriting.

In Financial lines we focus on financial institutions. Professional Indemnity, Directors' and Officers' liability as well as Bankers' Blanket Bonds (equivalent to crime cover in the non-financial sectors) are classes in this sector that require a comprehensive understanding of the whole financial market and its risks. A fairly new class is the protection against cyber risks.

In countries like France, Italy or Spain there are requirements for protection against any kind of defects for a period of up to ten years after finalisation of the construction. Under an Inherent Defects Insurance policy, we take over this risk from the constructor and/or other members of the construction project. It can be seen as a complement to Engineering covers, where the maintenance period does not include hidden defects.

In addition, we also have expert underwriters for specific kinds of business. For instance, we offer Personal Accident covers for all kind of team sports. Further, we participate - or in certain cases even lead - on contingency covers (i. e. cancellation of event, weather derivatives).