Questions around this news
What exposures does the new inland marine product cover?
The product is intended for U.S. domestic exposures in construction and transportation. The release lists builder’s risk, contractors’ equipment, motor truck cargo and various property floaters among its coverage offerings. It also identifies general contractors and developers as examples of construction customers.
What is the difference between admitted insurance and excess and surplus lines coverage?
Admitted insurance is provided by an insurer authorized to operate in a particular state and is generally subject to that state’s insurance regulations. Excess and surplus lines coverage is typically used for risks that may be difficult to insure through the standard admitted market. Its rules and consumer protections can differ by state and policy type.
Who provides the coverage and underwriting authority for this offering?
The release says Munich Re Specialty Group Insurance Services, Inc. offers the coverage and provides related services as a managing general agent. Its underwriting authority comes from an affiliated insurance company, American Alternative Insurance Corporation.
What does inland marine insurance generally cover?
Inland marine insurance generally protects property while it is being transported over land or kept at locations other than an owner’s main premises. Depending on the policy, it can also cover specialized equipment, construction projects or property that moves between locations. The specific protections and exclusions depend on the policy wording.
October 22, 2025 -- Munich Re Specialty has launched an admitted inland marine insurance product to complement its existing excess and surplus lines inland marine coverage, expanding the company’s capability to serve the diverse needs of its insureds and broker partners.
Munich Re Specialty’s new admitted inland marine product provides a solution for US domestic exposures in the construction (including general contractors and developers) and transportation industries.
Features and benefits of the new admitted inland marine insurance offering include:
- Regional specialist underwriters
- Experienced in-house claims handling
- $50 million capacity
- Coverage for builder's risk, contractors' equipment, and motor truck cargo
- Various property floaters
“Our team of inland marine underwriters and claims adjusters has decades of specialized experience in providing responsive solutions for complex risks in construction, trucking, and mobile property,” said Jaymee Parker, Head of Inland Marine at Munich Re Specialty - Global Markets, North America. “This new product enables us to bring inland marine offerings to the table on both specialty and admitted paper, giving our clients more options and greater flexibility.”
Munich Re Specialty is a description for the insurance business operations of affiliated companies in the Munich Re Group that share a common directive to offer and deliver specialty property and casualty insurance products and services. The Inland Marine coverage that is the subject of this announcement is offered, and any related services are provided, through Munich Re Specialty Group Insurance Services, Inc. as managing general agent with underwriting authority provided by affiliated insurance company American Alternative Insurance Corporation.
Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The Group consists of the reinsurance and ERGO business segments, as well as the asset management company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. Munich Re leverages its strengths to promote its clients’ business interests and technological progress. Moreover, Munich Re develops covers for new risks such as rocket launches, renewable energies, cyber risks and artificial intelligence. In the 2024 financial year, Munich Re generated insurance revenue of €60.8bn and a net result of €5.7bn. The Munich Re Group employed about 44,000 people worldwide as of 31 December 2024.
Disclaimer
This media release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to make them conform to future events or developments.
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At a glance
- Company
- Munich Re Specialty
- Announcement
- Product
- Location
- United States
Key figures
- Product capacity
- $50 million
People
- Jaymee ParkerHead of Inland Marine at Munich Re Specialty - Global Markets, North America
