Munich Re

Build Change Welcomes New Board Member and Leaders

Retrieved on: 
Tuesday, April 30, 2024
Organization, Climate change, Administration, Munich Re, Weather, Fire, FM Global, Woman, Atlas, Housing, AI, E-commerce, Insurance, Autodesk, Atlas Service Corps, Citigroup, Injury, DC Central Kitchen, American Red Cross, Optimism, AmeriCorps, Communication, Conrad N. Hilton Foundation, United, Death, Management

DENVER, April 30, 2024 /PRNewswire/ -- Build Change welcomes a new board member and two new members of its senior management team: Susie Berg, Director and Senior Corporate Counsel at Autodesk was appointed to the board of directors effective February 6, 2024; Abby Robinson joined Build Change in February as Director of Strategic Partnerships, and Angie Henderson Moncada joined as VP of Communications earlier this month. These new leaders provide expertise that will enable Build Change to deliver impact and raise money by enhancing digital client experience, deepening community-driven collaboration, and sharing powerful stories.

Key Points: 
  • DENVER, April 30, 2024 /PRNewswire/ -- Build Change welcomes a new board member and two new members of its senior management team: Susie Berg, Director and Senior Corporate Counsel at Autodesk was appointed to the board of directors effective February 6, 2024; Abby Robinson joined Build Change in February as Director of Strategic Partnerships, and Angie Henderson Moncada joined as VP of Communications earlier this month.
  • These new leaders provide expertise that will enable Build Change to deliver impact and raise money by enhancing digital client experience, deepening community-driven collaboration, and sharing powerful stories.
  • Build Change welcomes a new board member and two new members of its senior management team.
  • It frames my approach joining Build Change as we develop and nurture new and existing strategic partnerships around the globe."

BforeAI Announces $15 Million in Series A Funding Led by SYN Ventures

Retrieved on: 
Wednesday, April 24, 2024
Karma, Internet, Intelligence, Munich Re, Attack, Social media, AI, Capital punishment, Partner (business rank), Anomaly, Security, Organization

NEW YORK and MONTPELLIER, France, April 24, 2024 /PRNewswire/ -- BforeAI, the industry pioneer in predictive security, announced today $15 million in Series A funding led by SYN Ventures, with renewed participation from early investors Karma Ventures, Karista, Addendum Capital, and a new investment from the Partnership Fund for New York City.

Key Points: 
  • BforeAI autonomously maps and predicts malicious infrastructure through the ingestion of massive datasets, analyzing Internet metadata and establishing baselines to detect anomalies, deterring them before they turn into attacks.
  • This unique capability empowers customers with a preemptive active defense posture that enables security teams to stop attacks before they are executed.
  • "BforeAI is automatically blocking thousands of attacks every day, this new round of funding boosts our ability to serve ever more sophisticated customers and drive value in a competitive market.
  • With multiple AI/ML patents behind its technology, BforeAI specializes in predictive attack intelligence and automated digital risk protection services.

W&T Offshore Announces Liquidity-Enhancing Modifications to the Non-Recourse Term Loan with Munich Re

Retrieved on: 
Monday, March 18, 2024
Loan, Munich Re, Date, Credit, Finance Secretary (India), Term loan

HOUSTON, March 18, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today announced modifications to the first-lien non-recourse term loan (the “Term Loan”) between its wholly-owned special purpose vehicles (the “SPVs”) and Munich Re Reserve Risk Financing, Inc. ("MRRF"), which is expected to provide additional liquidity to the Company over 2024 without increasing the Company’s net leverage.

Key Points: 
  • HOUSTON, March 18, 2024 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today announced modifications to the first-lien non-recourse term loan (the “Term Loan”) between its wholly-owned special purpose vehicles (the “SPVs”) and Munich Re Reserve Risk Financing, Inc. ("MRRF"), which is expected to provide additional liquidity to the Company over 2024 without increasing the Company’s net leverage.
  • The Term Loan was initially arranged on May 19, 2021 (“Closing Date”) and had a principal balance of $215 million which has been amortized down to around $114 million as of December 31, 2023.
  • There have been a few alterations to the Credit Agreement signed by the SPVs and MRRF on May 19, 2021 (the “Original Credit Agreement”).
  • Through its 100% ownership in the SPVs, W&T retains the upside value in the Mobile Bay Assets.

HEYCHARGE REMOVES A KEY BARRIER TO THE GLOBAL MASS ADOPTION OF ELECTRIC VEHICLES

Retrieved on: 
Tuesday, February 20, 2024
Engineering, Internet, EV, MASS, Electric vehicle, Gesellschaft mit beschränkter Haftung, Munich Re, INTERNET, BMW, KEY

MUNICH, Feb. 20, 2024 /PRNewswire/ -- EV Charging technology company, HeyCharge, GmbH, announced today that the end of unreliable smart EV charging has finally arrived - removing what is perhaps the last significant barrier to the global massification of Electric Vehicles. 

Key Points: 
  • MUNICH, Feb. 20, 2024 /PRNewswire/ -- EV Charging technology company, HeyCharge, GmbH, announced today that the end of unreliable smart EV charging has finally arrived - removing what is perhaps the last significant barrier to the global massification of Electric Vehicles.
  • HEYCHARGE REMOVES A KEY BARRIER TO THE GLOBAL MASS ADOPTION OF ELECTRIC VEHICLES.
  • "Before HeyCharge, smart EV chargers provided a frustrating user experience in low or no internet connectivity environments," said HeyCharge CEO Chris Cardé.
  • "Our mission is mass EV inclusivity, which means EV charging needs to be reliable everywhere from lower level parking garages to remote regions.

HEYCHARGE REMOVES A KEY BARRIER TO THE GLOBAL MASS ADOPTION OF ELECTRIC VEHICLES

Retrieved on: 
Tuesday, February 20, 2024
Engineering, Internet, EV, Electric vehicle, Gesellschaft mit beschränkter Haftung, Munich Re, INTERNET, BMW

MUNICH, Feb. 20, 2024 /PRNewswire/ -- EV Charging technology company, HeyCharge, GmbH, announced today that the end of unreliable smart EV charging has finally arrived - removing what is perhaps the last significant barrier to the global massification of Electric Vehicles. 

Key Points: 
  • MUNICH, Feb. 20, 2024 /PRNewswire/ -- EV Charging technology company, HeyCharge, GmbH, announced today that the end of unreliable smart EV charging has finally arrived - removing what is perhaps the last significant barrier to the global massification of Electric Vehicles.
  • "Before HeyCharge, smart EV chargers provided a frustrating user experience in low or no internet connectivity environments," said HeyCharge CEO Chris Cardé.
  • "Our mission is mass EV inclusivity, which means EV charging needs to be reliable everywhere from lower level parking garages to remote regions.
  • HeyCharge's technology creates a 100% reliable EV charging universe free of no-to-low connectivity and network provider downtime.

WINT builds on success of 2023 to accelerate growth and innovation

Retrieved on: 
Wednesday, January 10, 2024
Insight Partners, GCS, Empire, HP, Munich Re, HSB, Insurance, Water damage, Algorithm, PepsiCo, WINT, Risk, Carbon, Water, Suffolk Construction Company, Pain, Organization, Growth, Renewable energy

NEW YORK, Jan. 10, 2024 /PRNewswire/ -- As organizations around the world face rising costs related to water damage and increased focus on water sustainability, WINT Water Intelligence is building on its success in 2023 to continue solving these challenges for insurance, construction, facilities, and property management companies.

Key Points: 
  • In addition, WINT's solutions prevented over 900 water damage incidents with a total damage potential of tens of millions of dollars.
  • WINT's success in preventing water damage has helped accelerate the growth of its insurance network, which includes carriers, brokers, MGAs and risk-engineering firms and has nearly tripled during the year.
  • "Our achievements in 2023 reflect the serious need for lasting solutions to the problems and costs associated with leaks, water waste and water damage," said Alon Geva, CEO of WINT.
  • WINT is used globally by customers including the Empire State Building, HP, PepsiCo, Suffolk Construction, as well as many other leading enterprises, general contractors (GCs) and facility owners.

GRS Announces Retirement of Bill Kramer and New Leadership of Complex Claims Solutions Group

Retrieved on: 
Tuesday, December 19, 2023
Insurance, Professional Services, P&C, Crawford, Munich Re, Retirement, CCS, Crawford & Company, GRS

Global Risk Solutions, Inc., a leading provider of a diverse range of P&C claims adjusting, global complex/large loss, and environmental risk management solutions, has announced the retirement of William “Bill” Kramer as Chief Executive Officer of GRS’ Complex Claims Solutions USA business unit (CCS).

Key Points: 
  • Global Risk Solutions, Inc., a leading provider of a diverse range of P&C claims adjusting, global complex/large loss, and environmental risk management solutions, has announced the retirement of William “Bill” Kramer as Chief Executive Officer of GRS’ Complex Claims Solutions USA business unit (CCS).
  • Kramer joined GRS in 2020, when the company acquired William Kramer & Associates, a leading specialty claims adjusting firm launched in 1996.
  • Succeeding Kramer as CEO of GRS’ Complex Claims Solutions USA unit is Adam Humphrey, CEO of the company’s Complex Claims International business.
  • “GRS has been fortunate to have a deep bench of highly skilled claims leaders, in Bill Kramer Adam Humphrey, Rodney Winkler and others,” said Mike Reeves, Executive Director of GRS’ Complex Claims Solutions Group.

Introducing OneNexus WellSecure for Oil & Gas Plugging Liabilities

Retrieved on: 
Tuesday, November 14, 2023
P&A, JIB, OID, Risk, Milliman, Munich Re, Oklahoma Department of Insurance, Partnership, Life, Bank, Life insurance, ARO

HOUSTON, Nov. 14, 2023 (GLOBE NEWSWIRE) -- OneNexus, the exclusive provider of innovative financial solutions for the oil and gas industry’s decommissioning obligations, introduces its life insurance-like product, OneNexus WellSecure (WellSecure).

Key Points: 
  • HOUSTON, Nov. 14, 2023 (GLOBE NEWSWIRE) -- OneNexus, the exclusive provider of innovative financial solutions for the oil and gas industry’s decommissioning obligations, introduces its life insurance-like product, OneNexus WellSecure (WellSecure).
  • Developed by OneNexus to help the energy industry meet the challenge of its ever-growing Asset Retirement Obligations (ARO), WellSecure stands alone as the only insured financial contract that provides long-term financial security for the purpose of funding oil and gas decommissioning liabilities.
  • Permanent: Structured as an insured financial contract, WellSecure guarantees funding with capital held securely in a regulated insurance company, OneNexus Oklahoma Captive Corporation (OOCC).
  • Guaranteed: OneNexus WellSecure provides guaranteed financial benefits via its $100M permanent capital partnership with Munich Re, which is structured to provide coverage for more than $1 billion of oil and gas decommissioning liabilities.

Playback is Now Available for AM Best’s ‘How Insurers Are Combating Legal System Abuse’ Webinar

Retrieved on: 
Friday, December 15, 2023
Finance, Banking, Professional Services, Legal, Insurance, Data, Munich Re, News

From social inflation to nuclear verdicts, reptile theory strategy and litigation funding, the insurance industry is under fire in the courtroom.

Key Points: 
  • From social inflation to nuclear verdicts, reptile theory strategy and litigation funding, the insurance industry is under fire in the courtroom.
  • Find out by watching the playback for AM Best’s “ How Insurers Are Combating Legal System Abuse ” webinar, sponsored by Munich Re and recorded on Thursday, Dec. 14, 2023.
  • In this one-hour webinar, a panel of insurance and legal experts explored what's driving today's legal system abuse and what insurers can do reclaim the high ground while minimizing outlandish claims costs.
  • Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.

Augury and HSB Introduce Innovative Production Loss Guarantee for Critical Rotating Assets

Retrieved on: 
Tuesday, December 5, 2023
Machinery, Professional Services, Machine Tools, Metalworking & Metallurgy, Data Management, IOT (Internet of Things), Technology, Asset Management, Other Manufacturing, Artificial Intelligence, Data Analytics, Engineering, Insurance, Manufacturing, Augury (company), Senior, Organization, Risk, Guaranteed, Munich Re, Health, Partnership, AI, Overalls, HSB, Maintenance (technical), Management, Life insurance, Augury

Building on the precision and dependability of Augury's cutting-edge, AI-driven Machine Health for Critical Assets (Machine Health CR) solution, Augury and HSB partnered to introduce a highly innovative Production Loss Guarantee for Critical Rotating Assets.

Key Points: 
  • Building on the precision and dependability of Augury's cutting-edge, AI-driven Machine Health for Critical Assets (Machine Health CR) solution, Augury and HSB partnered to introduce a highly innovative Production Loss Guarantee for Critical Rotating Assets.
  • "Our mission at Augury has always been to empower businesses with the tools they need to ensure the health and reliability of their critical assets.
  • With the introduction of the Production Loss Guarantee, we are taking a giant leap forward in achieving that mission.
  • Key features of Augury's Production Loss Guarantee include:
    Expanded Coverage: Augury's Guaranteed Diagnostics™ now covers a wider spectrum of production-related critical rotating assets, including pumps, motors, fans, compressors, and more, giving businesses the assurance of uninterrupted production across their entire operational landscape.