Global commercial insurance prices increased 4% in the fourth quarter of 2022 (down from a 6% increase in Q3 and a 9% increase in Q2), according to the Global Insurance Market Index released today by Marsh.
Tag: Marsh
IICF to Honor Marsh with “Double I” Award at 16th Annual Northeast Benefit
IICF will honor Marsh and all their employees with its prestigious “Double I” award.
Cyber Insurance Market Shows Signs of Stability, Says Marsh
Rate hikes are decreasing on average, and there are signs of stabilization, according to Gregory Eskins, cyber product leader at Marsh in the United States and Canada. Additionally, the risk management postures of corporations are improving. Insurers are establishing clearer underwriting standards, which can strengthen customer controls; and coordination between the public and private sectors… Continue reading Cyber Insurance Market Shows Signs of Stability, Says Marsh
Insurance Broker Marsh Launches World’s First Coverage for Hydrogen Projects
Broker Marsh, a unit of Marsh & McLennan, said on Monday it was launching the world’s first dedicated insurance for hydrogen energy projects, as the nascent industry looks to scale up quickly in the fight against climate change. As the world targets net-zero emissions by mid-century in an effort to cap global warming, hydrogen, particularly… Continue reading Insurance Broker Marsh Launches World’s First Coverage for Hydrogen Projects
U.S. Active Shooting Insurance Rates Jump As Incidents Rise
According to insurers, the cost of purchasing insurance against mass shootings has increased by more than tenfold in the United States this year as a result of a string of deadly events. According to the Gun Violence Archive, the United States has seen 293 mass shootings this year, which are defined as any event involving… Continue reading U.S. Active Shooting Insurance Rates Jump As Incidents Rise
Marsh: More D&O Insurers Willing to Offer Better Coverage to Businesses with Robust ESG Frameworks
Marsh, the world’s leading insurance broker and risk advisor, announced several enhancements to its directors and officers liability (D&O) insurance offerings today, potentially allowing more clients to benefit from superior environmental, social, and governance (ESG) frameworks. The move indicates that D&O underwriters are more willing to recognize organizations with strong ESG risk management as better… Continue reading Marsh: More D&O Insurers Willing to Offer Better Coverage to Businesses with Robust ESG Frameworks
Marsh Adds Beazley to ESG Risk Rating Roster
Marsh, the world’s leading insurance broker and risk advisor, announced that specialist insurer Beazley is to offer clients that opt in to Marsh’s Environmental, Social, and Governance (ESG) Risk Rating (ERR), global access to additional capacity through its Lloyd’s of London Syndicate 4321, subject to the ERR score meeting Beazley’s threshold. Launched in March, Marsh’s… Continue reading Marsh Adds Beazley to ESG Risk Rating Roster
Marsh Launches Renewable Energy Facility for Mid-Scale Solar and BESS Risks
Marsh, the world’s leading insurance broker and risk advisor, today announced the opening of a new renewable energy facility in the United States and Canada that will provide streamlined, dedicated insurance capacity for mid-scale solar and battery energy storage system (BESS) risks. Renewable energy companies have struggled to find sufficient capacity for smaller standalone solar… Continue reading Marsh Launches Renewable Energy Facility for Mid-Scale Solar and BESS Risks
COVID-19 and Effective Business Planning Drive Down Major Energy Sector Losses During 2020-2021
According to a new report by Marsh, the world’s leading insurance broker and risk advisor, the global hydrocarbon extraction, transport, and processing industry experienced a significant reduction in the number of major property damage losses during 2020-2021, due to the combined impact of the COVID-19 pandemic and well-executed business continuity planning. The report, 100 Largest… Continue reading COVID-19 and Effective Business Planning Drive Down Major Energy Sector Losses During 2020-2021
Aon & WTW Follow Marsh’s Lead and Sever All Ties with Russia
In response to Russia’s invasion of Ukraine, brokerage behemoths Aon and WTW have both announced plans to withdraw all of their operations from the country. Following Marsh McLennan’s lead last week, the world’s three largest insurance brokers have all severed ties with Russia. Insurers such as Generali have also left the country following its widely… Continue reading Aon & WTW Follow Marsh’s Lead and Sever All Ties with Russia