Marsh to Recognize Clients with Robust ESG Frameworks
25 Ottobre 2021 - 9:00AM
Business Wire
New initiative enables firms to receive preferred D&O
coverage on ESG-related exposures
Marsh, the world’s leading insurance broker and risk advisor,
today announced the launch of a new directors and officers
liability (D&O) insurance initiative that will recognize
US-based clients with superior environmental, social, and
governance (ESG) frameworks.
Under the initiative, participating Marsh clients will engage
with select international law firms including Norton Rose Fulbright
and Orrick, Herrington & Sutcliffe LLP to independently review,
evaluate, and, in some cases, bolster their ESG frameworks. Subject
to underwriting, Marsh clients will then be considered for
preferred D&O policy terms and conditions on ESG-related
exposures – such as climate change disclosures and representations
– from four participating D&O carriers: American International
Group Inc.; Berkshire Hathaway Specialty Insurance; Sompo
International; and Zurich North America.
The move comes amid an uptick in ESG-related stakeholder
activism and litigation, as well as an evolving global regulatory
environment. It also demonstrates how investing in robust ESG
initiatives can positively impact organizations’ bottom lines.
“Our clients have endured one of the most challenging D&O
markets in decades, and the risk landscape is only intensifying,
especially as it relates to ESG issues like climate change and
diversity,” said Maureen Gorman, a Managing Director in Marsh’s US
FINPRO Practice. “As clients continue to invest in ESG initiatives,
it is right that they be recognized as a better risk by
underwriters. By working with these select law firms, we are
ensuring clients have access to leading independent ESG expertise
that can help validate and elevate their ESG efforts, becoming
eligible for more favorable coverage.”
Amy Barnes, Head of Climate & Sustainability Strategy at
Marsh, added: “Marsh is proud to introduce D&O coverage
enhancements that recognize organizations taking a proactive
approach to managing the risks associated with ESG, including the
transition to a low-carbon economy. We look forward to replicating
this initiative in London and in other parts of the world over the
coming months. Marsh McLennan has co-led the product and services
development workstream of the Prince of Wales’ Sustainable Markets
Initiative Insurance Task Force, and we are pleased to be driving
climate positive innovation in our industry.”
About Marsh
Marsh is the world’s leading insurance broker and risk advisor.
With around 40,000 colleagues operating in more than 130 countries,
Marsh serves commercial and individual clients with data-driven
risk solutions and advisory services. Marsh is a business of Marsh
McLennan (NYSE: MMC), the world’s leading professional services
firm in the areas of risk, strategy and people. With annual revenue
over $19 billion, Marsh McLennan helps clients navigate an
increasingly dynamic and complex environment through four
market-leading businesses: Marsh, Guy Carpenter, Mercer and Oliver
Wyman. For more information, visit mmc.com, follow us on LinkedIn
and Twitter or subscribe to BRINK.
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version on businesswire.com: https://www.businesswire.com/news/home/20211025005276/en/
Sally Roberts Marsh 303.952.9453
sally.roberts@marsh.com
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