HARTFORD, Conn.--()--As energy costs rise, it’s increasingly important for homeowners to control their spending on electrical power. The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, announced an agreement today with National Energy Management (NEM) to develop tools that help insurance customers take advantage of the reduced electricity rates available in deregulated markets.
“We continue to explore new ways to deliver energy savings to our customers’ policyholders”
“We continue to explore new ways to deliver energy savings to our customers’ policyholders,” said Greg Barats, president and chief executive officer of Hartford Steam Boiler. “National Energy Management has the experience to help homeowners in deregulated markets understand their options and make smart choices that reduce their electricity costs.”
National Energy Management operates in all states with deregulated energy choice markets to help consumers and businesses take advantage of their options to lower energy bills. By comparing rates, contracts, features, limitations and other factors, the company helps customers select the energy provider that best meets their needs at the lowest possible price.
“Many consumers in deregulated markets don’t know they can choose their energy supplier,” said Todd Yasbin, president of National Energy Management. “Others are confused or needlessly reluctant to switch, even though they can lower their energy spending by an average 10 to 20 percent. With our daily market analysis, we can maximize energy savings for customers today and tomorrow.”
Hartford Steam Boiler, a member of Munich Re’s Risk Solutions family since 2009, provides a range of specialty insurance coverages for business, home and farm. One of the world’s leading equipment breakdown insurers, HSB helps clients reduce risk through a unique combination of specialty coverages, engineering-based risk management strategies and loss reduction services. A.M. Best Company awarded the HSB Group of companies its highest financial rating, A++ (Superior).
National Energy Management acts as an information hub and consulting firm in the area of deregulated electricity to give their clients the highest potential of savings in their electrical spending. As an energy management firm, NEM gives its clients an educated and experienced voice in this complicated, yet beneficial deregulated market.
About Munich Re
In the U.S., Munich Re provides access to a full range of property and casualty reinsurance and specialty insurance products through Munich Reinsurance America, Inc., American Modern Insurance Group and Hartford Steam Boiler Group. Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. Munich Re creates value for clients, shareholders and staff alike. In the financial year 2011, the Group – which pursues an integrated business model consisting of insurance and reinsurance – achieved a profit of €0.71bn on premium income of around €50bn. It operates in all lines of insurance, with around 47,000 employees throughout the world. With premium income of around €27bn from reinsurance alone, it is one of the world's leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in the ERGO Insurance Group, one of the major insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2011, ERGO posted premium income of €20bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re's global investments amounting to €202bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.