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Marsh is a global leader in insurance broking and risk management. Marsh helps clients succeed by defining, designing, and delivering innovative industry-specific solutions that help them effectively manage risk. Marsh's approximately 30,000 colleagues work together to serve clients in more than 130 countries. Marsh is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy, and people. With annual revenue of US$13 billion and approximately 60,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Guy Carpenter, a leader in providing risk and reinsurance intermediary services; Mercer, a leader in talent, health, retirement, and investment consulting; and Oliver Wyman, a leader in management consulting. Follow Marsh on Twitter, @MarshGlobal; LinkedIn; Facebook; and YouTube.
Use of Client Information
Data Analytics. Marsh may include, on an anonymous basis, information relating to its clients' insurance programs in benchmarking, modeling and other analytics. Marsh offers an array of analytics capabilities to clients, insurers and others. For clients, these offerings include benchmarking databases, analytics and modeling tools, surveys and other compilations of information, which are designed to help clients more effectively assess their risks, make more informed decisions and construct insurance programs and other risk mitigation strategies. Marsh or its affiliates may in some instances receive compensation for its analytics offerings from clients, insurers and others.
Leading the Way in Transparency
Our clients deserve our finest effort when they engage us to obtain insurance coverage. We pride ourselves on being an industry leader in transparency and disclosure and aim to treat our clients fairly at all times.
To help our clients to make fully informed decisions we will at your request disclose to you any of the following information:
At your request, we will disclose to you in writing the remuneration we (and other members of the Marsh Group) receive in respect of your policy. To the extent that such other remuneration cannot be quantified, then we will explain the basis for its calculation.
In common with many financial organizations, we provide a range of services to a large number of clients. We also provide certain services to insurers. Situations may arise in which the interest of a client may conflict with those of another client or with our own interest. Accordingly, we have policies and procedures in place to ensure that should such circumstances arise, they are managed appropriately.
You can find out more about how we manage conflicts of interest by contacting us and, also read the Marsh and McLennan Companies' Code of Conduct - Code of Conduct - The Greater Good.
How We Are Paid
As an insurance broker, Marsh's role is to place insurance coverage for our clients. We may receive compensation from insurance companies and/or clients through one or a combination of the methods listed below.
Retail Commissions: A retail commission is paid to Marsh by the insurer as a percentage of the premium charged to the insured for the policy. The amount of commission may vary depending on a number of factors, including the type of insurance product sold and the insurer selected by the client. Retail commission rates can vary from transaction to transaction.
Client Fees: Some clients may agree to pay Marsh a fee for Marsh's services in lieu of, or in addition to, retail commissions paid by insurance companies. The fee may be collected through the crediting of retail commissions collected by Marsh for the client's placements.
Insurer Consulting Compensation: Marsh receives compensation from insurers for providing consulting, data analytics or other services. The services are designed to improve the product offerings available to our clients, assist insurers in identifying new opportunities, and enhance insurers' operational efficiency.
Contingent Commissions: Some insurers agree to pay Marsh contingent commissions when we meet set goals for insurance policies placed with them during a given year or other time period. The set goals may include volume, profitability, retention and/or growth thresholds. The amount of contingent commission earned may vary depending on various factors relating to an entire book of business over the course of the year or period. As a result, the amount of contingent commission attributable to any given insurance policy or program typically will not be known at the time of placement.
Compensation for Insurer Administration and Other Services: Marsh operates certain panels, facilities, quota shares and other placement arrangements with insurers. Marsh may receive separate compensation for administering these arrangements that is in addition to any other fee or commission earned by Marsh.
Other Benefits or Compensation: Marsh may, from time to time, participate in insurance company promotional events or employee training and development provided by insurers. Sometimes, Marsh is reimbursed by insurers for its costs related to promotional marketing. Where legally permitted, Marsh earns interest and other income on premium accounts, as paid to us by the financial institutions where insurance premiums are held prior to remittance to insurers.
Contractual Arrangements with Insurers
Marsh has agreements with certain insurers pursuant to which Marsh provides services to them and for which Marsh is compensated to the extent permitted by law and regulation in each country in which Marsh operates. Examples include captive management services, claims administration services, claims management software and associated services, mergers and acquisitions due diligence services, and insurance brokerage services regarding insurers' own insurance programs. Marsh is also a party to agreements with insurers that facilitate insurance transactions, including agreements to operate internet-based insurance placing facilities.
Marsh and its subsidiaries or affiliates own equity interests in a small number of insurers or reinsurers. A current list of those equity interests can be viewed at: http://global.marsh.com/about/Transparency.php.
Marsh is affiliated with other entities that may perform services associated with a Marsh client's account. Mercer is a premier human resource consulting firm that may provide health and benefits consulting and insurance placement expertise to Marsh clients. Guy Carpenter & Company is a leading reinsurance broker, and it may place reinsurance for insurance companies that insure a client's risk through Marsh. Oliver Wyman is a global leader in management consulting that may provide actuarial or consulting services for Marsh clients.
Marsh is the world's largest provider of captive management solutions. Marsh Global Analytics helps organizations use data and analytical tools to better understand risks, make more informed decisions, support the implementation of innovative solutions and strategies, and ultimately reduce costs. Marsh Risk Consulting is a global organization comprising specialists dedicated to providing clients with advice and solutions across a comprehensive range of insurable and non-insurable risks. Marsh ClearSight serves the technology needs of risk management professionals as well as insurers and third-party administrators through integrated software and services that support risk management, claims administration, compliance management, and data management.
We may receive payments from the companies that provide premium-finance facilities which allow our clients to pay their premiums in instalments.
We encourage you to ask questions about any aspect of your relationship with us.
Please feel free to ask a member of your servicing team.
If you want to raise any issues or have any concerns about how we are paid, please email us at: email@example.com