Presentation of IMIA at the 2007 Conference Tokyo, October 1st to 3rd History / general remarks Aim and role of IMIA Memberships / organisation Annual conference Statistics IMIA website 1
History / general remarks IMIA, formerly known as International Machinery Insurers Association, was founded in Munich, Germany in 1968 IMIA is a non-profit making organisation IMIA delegates currently amount to 60 delegates from 20 countries 2
Core values of IMIA The forum for promoting understanding and best practice in the field of Engineering Insurance An international network for Engineering Insurers around the World to share experiences, discuss and develop new ideas and, through its annual conferences, working groups and communications, investigate and share knowledge on emerging and critical issues. 3
Focus of IMIA A technical forum for analysing advances in technology, causes and impact of loss, loss prevention and control, changes in the maintenance and operation of machinery, risk management and other related developments and innovations. The forum shall embrace all classes of Engineering i Insurance 4
Classes of Engineering Insurance at IMIA Boiler Explosion & Machinery Breakdown Electronic Equipment and all its applications Contractors All Risks (CAR) & Erection All Risks (EAR) Builders' Risks, Contract Works & Contractors Plant & Equipment Loss of Profits (LOP)/Business Interruption (BI) Advance Loss of Profits (ALOP)/Delay in Start Up (DSU) Completed Construction Risks & Industrial All Risks Decennial & Latent Defect (IDI) 5
Membership Country Members / Associations (41 delegates) Insurers and Reinsurers (11 delegates) Associate Members (9 delegates) 6
Organisation Chairman (elected for 3 years) Secretary Members of the Executive committee (elected for 3 years) 7
Annual Conference Tokyo, Oct. 2007 Working Group Papers presented Engineering i Insurance Exposure related to wet risks and land reclamation Chairman: Xavier Touzé, XL Re Europe, Le Mans Revamping and modernisation of machinery and equipment Chairman: Jean Scheidecker, Axa Enterprises, Paris Emerging Technologies: Insuring what has not been insured before Chairman: Clifton Lancaster, HSB, Hartford Rehabilitation works and high coverage limits for existing property Chairman: Chris Blückert, Zurich Stockholm Water distribution systems in buildings under construction Chairman: Anders Lindberg, If P&C, Stockholm 8
IMIA The International Association of Engineering Insurers TM Engineering Insurance Statistics 2004-2006 Presented by Allianz Global Corporate & Specialty in October 2007 at the IMIA Conference in Tokyo
Development of IMIA Members Premium 2004-2006 US$ Mill 11,102 Change in % + 31.8 9,384 + 6.3 9,978 + 11.3 (Note: revised figures; now including IDI France) 2004 2005 2006 10
Development of Premiums per Line of Business 2004 2006 US$ Mill % of total premium 2,396 (21.5) 1,816 274 1,042 3,428 (19.4) (2.9) (11.1) (36.5) 2,112 (21.2) 2) 267 (2.6) 1,008 (10.1) 3,632 (36.4) 313 1,027 3,902 (2.8) (9.6) (35.0) IDI LOP EE M, BE, O CAR, EAR, G 2,824 (30.1) 2,959 (29.7) 3464 3,464 (31.1) 1) 2004 2005 2006 11
Large Claims - Cause of Loss: all LoB 2002-2006 US$ Mill 400 350 300 250 200 150 100 50 A) Faulty Operation C) Faulty Design E) Explosion B) Faulty Material and D) Fire F) Natural Hazards Workmanship G) Other Causes 0 A B C D E F G A B C D E F G A B C D E F G A B C D E F G A B C D E F G 2002 2003 2004 2005 2006 12
Premiums and Claims 2006 per Country US$ Mill Finland Israel Denmark Sweden Taiwan Austria South Africa 0 500 1000 1500 2000 2500 Claims Premiums Loss Ratio (%) 2004 2005 2006 35.7 45.3 73.0 54.5 97.0 54.6 46.9 61.1 51.1 33.2 47.6 45.5 43.6 50.3 31.9 53.9 51.7 52.8 37.7 32.0 36.4 36 2 57 0 45 5 25.2 31.3 36.0 54.0 44.9 54.7 Switzerland 36.2 57.0 45.5 Australia Netherlands Turkey Russia Canada Italy Japan Great Britain Spain USA Germany France 62.7 55.7 52.6 12.7 6.3 10.7 19.7 16.8 13.4 44.7 61.3 54.6 47.5 43.9 53.1 39.5 41.5 40.4 40.8 27.3 51.2 27.5 70.6 78.8 23.33 70.8 81.8 20.22 70.1 85.0
More information needed? Please have a look at www.imia.com and you will find: - Papers published - Country reports - Interesting ti claims - Press releases - Many links to Engineering and Engineering insurance matters etc. - And a lot of other useful information 14