Hyperloop Tranportation Technologies (HTT)’s Hyperloop Technology has been given the stamp of recognition as feasible and insurable. A project team within Munich Re’s Special Enterprise Risks Unit had been set up to carry out risks and challenges analysis over the past year and has finally published the first Hyperloop Transportation Technologies Risk Report.
The risk reports forms the foundation for active strategic risk management. Over the past year, Risk landscapes were developed not only for HTT, but also for HTT’s Hyperloop technology itself. These risk landscapes shed light on enterprise and technological risk and document relevant external and internal influencing variables.
According to a press statement, the official line states that “Munich Re is of the opinion that the Hyperloop technology developed by HTT is both feasible and insurable in the medium term and that delivering the system demands a model represented by HTT’s innovative approach.”
Torsten Jeworrek, member of the Munich Re Board of Management, said, “The technology developed by HTT is set to fundamentally change the way we travel in the future. Such technological shifts give rise to new insurance needs that demand innovative solutions – which our Hyperloop team at Corporate Insurance Partner is happy to develop.”
Dirk Ahlborn, CEO and co-founder of HTT added, “Offering an insurable system is a massive milestone for this groundbreaking technology. As we move forward with commercialization of the system and our technology, our biggest challenge remains the creation of a new regulatory framework.”
Bibop Gresta, Chairman and co-founder of HTT said. “Now with further validation that our technologies and system are feasible and insurable, we are ready to build. We are delighted to have found an innovative partner in Munich Re that takes a constructive and cooperative approach to our very specific needs.”
As a risk carrier, Munich Re provides fundamental support for the corporate development of HTT and the commercial viability of Hyperloop technology. The cooperation demonstrates how Munich Re does not merely assume risks, but also supports companies with services that are tailored to their specific risks.