Given the breadth of its client base—and the
complexities of Environmental exposures—it’s inevitable that
Marsh’s clients will encounter risks for which no insurance
solution exists. In these situations, the Environmental practice,
which prides itself on its innovation, will work to develop a
risk-transfer product that addresses the gap and then will find a
carrier willing to support it.
“We take the lead in identifying those unmet needs and then going to the marketplace and getting those endorsements—and then rolling them out throughout the industry where the risk exists,” says James Vetter, a managing director and the member of the Environmental team with a special expertise in the retail, wholesale and food-and-beverage industries.
Vetter, for example, spent the last six months working with a number of markets to come up with a disinfectant endorsement so that when a company has a product recall due to an outbreak of salmonella or another bug, carriers will now respond and pay for those cleanup costs.
And for a private-equity client eyeing a deal in Europe, Marsh was able to secure a coverage that’s usually off the table in Environmental negotiations: a policy that doesn’t exclude known pollution conditions at a site.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
