Main Street independent agents and brokers will soon face a major competitor, after the world's largest insurance broker announced it will pursue the producer's bread and butter: the small commercial client.

Marsh, the insurance brokerage subsidiary of the New York-based professional services firm Marsh & McLennan Companies, announced it is forming a new unit, Marsh & McLennan Agency, LLC. The agency will be devoted to serving the insurance needs of small and emerging growth U.S. companies.

The new unit will conduct its business separately from Marsh brokerage, the broker said. It will offer customers commercial property-casualty, directors and officers liability, surety, employee benefits, and personal lines products through a dedicated sales and service force in retail locations throughout the United States.

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