Marsh News

Firms Turn to Kidnap Insurance Policies to Cover Ransomware Losses

Companies without cyber insurance are dusting off policies covering kidnap, ransom and extortion in the world’s political hotspots to recoup losses caused by ransomware viruses such as “WannaCry,” insurers say. Cyber insurance can be expensive to buy and is not …

Many Non-U.S. Firms May Be Uninsured for Recent Ransomware Attack

Many companies outside the United States may not have cover for a recent computer-system attack, leaving them potentially with millions of dollars of losses because there has been relatively little take-up of cyber insurance, insurers say. A massive ransomware worm caused …

Insurance Partners of Texas Acquired by Marsh & McLennan Agency

Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has acquired Insurance Partners of Texas, an Abilene, Texas-based employee benefits consulting firm. Terms of the transaction were not disclosed. Founded in 2004, Insurance Partners of Texas …

Demand Rises for Political Risk Cover as Buyers Think the Unthinkable

Rocked by a shakeup in the Western political order, companies are buying more insurance to protect themselves against the threat of rising protectionism and upheaval to their operations in emerging markets. Insurers say demand is being driven by uncertainty over the consequences …

Aon, JLT, Marsh, UIB, Willis Investigated by UK Regulator over Aviation Broking

Britain’s financial watchdog is investigating five insurance brokers over information-sharing on aviation insurance, the companies said, in one of the first cases of its kind by the watchdog. Aon, Jardine Lloyd Thompson (JLT), Marsh , UIB and Willis Towers Watson issued statements …

Industry’s International Diversity & Inclusion Festival to Be Held Sept. 26-28

The insurance industry’s third annual diversity and inclusion festival, called Dive In, will be held Sept. 26-28 at events across the globe. Marsh, Willis Towers Watson, XL Catlin and Aon are continuing their year-on-year support of the festival and will …

Marsh & McLennan Agency Acquires Minnesota’s RJF Financial Services

Marsh & McLennan Agency LLC (MMA), the middle market agency subsidiary of Marsh, has acquired RJF Financial Services, a retirement advisory firm based in Brooklyn Park, Minnesota. Terms of the transaction were not disclosed. RJF Financial has served retirement plan …

Marsh Launches New Excess Medical Professional Liability Policy Form

Marsh has unveiled a new excess medical professional liability (MPL) policy form that combines industry favorable MPL terms and conditions into a single excess policy to be used by commercial insurers. Developed by Marsh’s US Casualty and HealthCare Practices in …

Global Insurance Rate Decreases in Q4 Slowed for 4th Consecutive Quarter: Marsh

Global insurance rate decreases moderated on average for the fourth consecutive quarter, down 3.1 percent (compared to the previous quarter’s decrease of 3.2 percent), according to Marsh’s Global Insurance Market Index – Q4 2016. * “The last quarter of 2016 marked …

Marsh Announces Executive Lineup for Combined Jelf & Bluefin Business

Following the completion of its acquisition of Bluefin earlier this year, Marsh announced that it had appointed a new management team for its combined Jelf and Bluefin business. Led by Phil Barton as CEO, the new management team is drawn …