Marsh unveils five bespoke risk products
by Richard Kilner
Story link: Marsh unveils five bespoke risk products
Marsh’s International Specialist Broker, Bowring Marsh, has created a quintet of personalised risk transfer products which offer protection against Property, Casualty and Terrorism risks.
Each of the five new products are united by the utilisation of syndicated placements, which means that the risk is spread across a larger number of carriers.
The products are: North American Property Facility, North American Excess Property Facility, Worldwide Power Facility, Worldwide Terrorism Facility, and the Worldwide Casualty Facility.
Bowring Marsh’s chief executive officer, Mark Gregory, has stated that clients themselves have been the driving force behind the idea of spreading risk across a large number of carriers.
Gregory went on to say that each of the new products also offered unique features, citing the Casualty facility which offers optional lead capacity excess of underlying retentions.
Bowring Marsh’s London head, Andrew Chester, explained that the products had been designed to mitigate the effects of a volatile marketplace.