Marsh Launches Property Facility
The London arm of New York-based brokerage Marsh Inc. has launched a property facility for companies in the United States and Canada.
The facility provides $425 million of non-catastrophe cover and can be adapted to provide up to $262.5 million of non-critical catastrophe cover. The facility can also be used as quota share capacity as part of a larger limit, Marsh said in a statement.
Coverage is for all commercial property classes, and on a worldwide basis for U.S. and Canadian Fortune 500, and medium-sized companies.
Coverage includes terrorism, pollution and business interruption, but excludes the mining and processing of natural resources, and contingent business income classes.
Lloyd’s of London syndicates 2003, managed by Catlin Underwriting Agencies Ltd., and 1414, managed by Ascot Underwriting Ltd., lead the cover.
Source: Source: Business Insurance | Published on October 8, 2007
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