Fire

Swiss Re's strength in fire and allied lines of business is based on two factors: the knowledge we have accumulated during many years of experience and research, and our broadly diversified portfolio which is spread across many regions worldwide

Our experience is crucial for reacting to the challenges of a constant change in the risk landscape. This change includes managing varying exposures in combination with more pronounced property value concentrations, the industry’s request for comprehensive insurance coverage and a more demanding legal environment.

Continually Swiss Re strives to strengthen its market position. We aim to bolster our presence in this line of business and play a key role in the industry.

Business interruption

Fire business interruption insurance is a growing line of business, propelled in part by market deregulation and by the greater realisation that significant loss of income may count as a bigger threat than the loss and destruction of a property and plant. Indeed, preserving earnings power is certainly a key management priority.

The relative importance of business interruption for the insurance industry can be roughly outlined with the following general assertions:

Fire business interruption insurance is by far the most popular form of loss of income insurance, followed by machinery business interruption insurance.
Business interruption policies are very common in industrialised countries, especially in big industry.
Business interruption insurance accounts for less than half of the premiums and losses in the property insurance line.

Swiss Re considers close collaboration with the client to be a key success factor especially in the area of fire business interruption insurance. Mutual understanding and trust are vital for the collection of business data and for efficient claims settlement.

Motor insurance

The motor line of business encompasses all first party and third party covers associated with the operation of self-propelled motor vehicles and includes towed vehicles. It does not cover the manufacture or assembly of such vehicles.

Third party liability (TPL)

This policy provides insurance cover against bodily injury and property damage claims made under statutory liability provisions against the registered user and/or driver as a result of the operation of a given vehicle. In most countries, Motor TPL insurance must be taken out by law.

Own damage

Motor own damage insurance covers loss or damage caused to the declared vehicle accidentally and unintentionally by the policyholder or the driver of the vehicle. in particular, the cover includes damage sustained by the vehicle during a journey or transport.

Fire and theft

Fire and theft insurance covers damage to the vehicle due to: fire, natural perils, theft, glass breakage, collision with animals and malicious acts of third parties.

Directors & Officers liability

Directors' and officers' liability insurance provides cover against financial loss claims made, on the basis of statutory liability provisions, against members of the board of directors, executive boards and other employees in their capacity or role as a director or officer of the insured company.

Business leaders are confronted with various risks such as hazards associated with mergers, acquisitions, public offerings and the like. Never before have corporate directors and officers faced a greater likelihood of being sued because of their decisions. Directors and officers of public companies are a potential target for lawsuits alleging financial loss. Plaintiffs are normally investors, employees, regulatory agencies and customers, among others.

Swiss Re protects the liability of business leaders by covering the litigation costs and damages in the event they are sued by third parties. This may save directors, officers and their companies from a financial disaster

Agriculture reinsurance

Advances in research and technology have led to a high degree of industrialisation, specialisation and intensification in modern agriculture. Governments around the world have realised that risk management instruments such as insurance policies and index-based risk transfer solutions create the financial stability farmers need. While farmers in developed markets have benefit for years from government-subsidized agricultural insurance programmes, growers in emerging markets are increasingly gaining access to a wide variety of insurance solutions.

As one of the world's leading reinsurers, Swiss Re possesses significant experience in covering agricultural risks worldwide and providing advice, support and client-oriented products for all agricultural reinsurance lines. Our team provides facultative and treaty solutions both on a proportional and non-proportional basis for the following lines of business:

Crops - Named, multi-peril and revenue covers for all types of crops against losses from natural perils (eg, drought, flood, frost, hail, fire) as well as pests and diseases
Livestock - Mortality cover for cattle, pigs or poultry from natural perils, accidents and non-epidemic diseases as well as epidemic diseases that can be insured as an endorsement
Bloodstock - Cover against losses from mortality, accidents, infertility and transport risk for pleasure, breading and racing horses
Aquaculture - Covering on- and off-shore fish farms (eg, salmon, tuna) and other aquatic creatures (eg, shrimps, shell fish, mussels) against losses from natural perils, diseases, algae blooms or predators while equipment can be insured as an endorsement
Forestry - Covering commercial plantations (eg, pine, eucalyptus) against losses from fire and storm
Greenhouses - Covering material damage to structures against natural perils, plants against frost or hail damage and equipment against machinery breakdown or fire, and certain aspects of business interruption

In addition, Swiss Re can combine our agricultural expertise with capital markets solutions, resulting in the following innovative offerings:

Weather insurance solutions - Structured insurance products based on information derived from weather stations or satellites as a proxy for crop production levels. Such index products have low administrative costs and fast payouts, which is an essential advantage particularly in emerging markets
Commodity price hedge - Supporting insurance companies exposed to volatility of commodity prices from revenue policies (where volume and price of agricultural production is insured). Such hedges work best for key commodities in the major markets and are an efficient way to protect an insurer's balance sheet

Risk transfer solutions for corporates

As the nature of the risk it faces becomes increasingly complex, the agricultural sector needs to constantly adapt to a rapidly changing environment. Increasing global population, limited arable land, trade liberalisation, pressure to increase growth, as well as volatile production related to climate change and commodity markets are just some of the many challenges currently affecting the sector. Swiss Re's Agriculture team offers innovative, tailor-made risk transfer solutions to help mitigate those risks.

Leveraging Swiss Re's capital market expertise, the agricultural team provides a broad range of products, including crop shortfall insurance, weather-based index covers and structured price hedges. These products help to effectively manage losses in years with low production.

Our offerings are tailored to the needs of the various stakeholders in the agricultural sector, including bank/financial institutions, input suppliers, corporate farming operations, traders, logistics companies, or processors in the key markets.

Industries served include:

Food and beverage
Livestock and aquaculture
Pulp and paper
Input suppliers
Financial institutions and funds
Machinery and equipment

Marine

Marine (re)insurance covers anything and everything that has to be transported on water, over land or in the air, from crude oil to drilling platforms and works of art.

Hull

Marine hull covers all types of vessels that float, ie from simple dinghies to very large and ultra-large ocean-going tankers.

Cargo

Basically, this term covers anything that is loaded in any type of vehicle or vessel for the purpose of being transported, provided that the cargo does not refer to passengers.

Liability

Marine liability (apart from collision liability covered under a hull policy) encompasses the legal liabilities of professionals engaged in occupations closely related to a maritime operation.

Energy

Marine energy business provides cover for platforms/equipment engaged in the offshore oil operation/exploration, for all supply vessels serving the offshore oil fields and in some cases the pipelines connecting offshore.

Surety & Credit

Financial Risk/Surety
Political Risks
Mortgage Guarantee