This week’s new episode of Insurance•ish the Podcast features Karl New, Vice President of MunichRe. Karl and Josh breakdown the different ways reinsurance companies operate in the insurance space, different types of reinsurance treaties, and why reinsurance is the backbone of the insurance industry. To stay in the know with all things Insurance•ish, connect with Syndicate on LinkedIn, Facebook, Twitter, and Instagram.
About Karl New:
Karl New is a Vice President for Munich Reinsurance America, LLC in the Property Claims Department. Mr. New’s responsibilities include the handling of claims on a direct insurance basis and as a reinsurer of various ceding companies. His claims consulting experience includes: claims operational reviews evaluating technical quality and procedures, reserve adequacy and trend analysis studies, litigation management and legal expense control, and facilitation of formal workshops and training presentations for Munich Re Inland Flood Product.
Mr. New was formerly a General Adjuster for American Modern Insurance Group (AMIG), a wholly owned subsidiary of Munich Re, where he was responsible for the technical quality of claims handling and training of staff adjusters. During his tenure at AMIG, Mr. New coordinated training presentations for internal and external staff on how to handle large property losses and to successfully work with Public Adjusters. Mr. New participated in over 19 catastrophic events, of which he ran several CAT offices and was the company point person for all arbitration cases for Super Storm Sandy. Prior to that, he was employed at several construction and restoration companies while he attended college.
Karl graduated from Temple University in Philadelphia with a BBA in Risk Management & Insurance with a minor in Finance. He has his AIC and SCLA designations and is currently NFIP certified and licensed in 22 states.