Munich Re Specialty has launched a specialist solution for owners, developers and contractors involved in large-scale tunnelling and underground infrastructure projects.

Construction Rescue Insurance is designed to fund significant and often unforeseen rescue and crisis response costs following catastrophic underground incidents.

The cover responds to tunnel collapse, flooding, power outage, fire and equipment failure, as well as other unexpected events that leave contractors or workers unable to reach the surface, subject to policy terms, conditions and limits.

Stephanie Ogden, CEO, Munich Re Specialty, Global Markets, Syndicate, said: "Tunnelling is among the most technically demanding disciplines in global infrastructure, and when a collapse occurs, the priority is safety of people. By providing this product, our aim is to support customers with the costs that amass exceptionally quickly and give project owners and contractors the time to ensure their focus can remain on the preservation of human life and welfare."

The launch builds on Munich Re Specialty’s Miner Rescue Insurance consortium, extending a similar approach to the global tunnelling and infrastructure sector.

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