Munich Re Specialty has introduced a new admitted inland marine insurance product to complement its existing excess and surplus lines coverage, targeting US domestic exposures in construction and transportation sectors.
The newly launched product offers coverage for builder’s risk, contractors’ equipment, motor truck cargo, and various property floaters, with a capacity of up to $50 million. The company stated that this product will be underwritten via regional specialists and supported by in-house claims handling.
Munich Re Specialty noted the addition aims to give clients “more options and greater flexibility” across both admitted and specialty markets.
“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, 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.”
The coverage is offered through Munich Re Specialty Group Insurance Services, Inc., acting as managing general agent under underwriting authority from American Alternative Insurance Corporation, an affiliated insurer.
The launch comes as the US inland marine market shows signs of stabilization in 2025. According to analysts, most policyholders in the sector are experiencing flat to slightly decreasing rates, with competition among insurers intensifying after several years of rate hardening. They noted that only accounts with major catastrophe exposure or loss history continue to face upward adjustments.
Emerging risks also continue to influence underwriting strategies. Industry data shows growing concern over cargo theft and cyber vulnerabilities involving telematics and GPS-enabled assets, particularly in the transportation sector. These trends have prompted opportunities to refine risk assessment models and integrate cyber risk mitigation measures into inland marine policies.
What are your thoughts on the recent announcement? Share your insights in the comments below.
