The move aims to provide enhanced D&O insurance protection amidst ongoing market volatility and fluctuating insurance rates.
The D&O Echo facility, accessible to Marsh clients worldwide and spanning across various industries including financial institutions, presents clients with excess D&O insurance cover, with limits ranging up to $75 million ($40 million for US-based clients) attaching above $25 million.
Clients have the option to pre-purchase a reinstatement of the limit or lock in a price for future reinstatement purchases, ensuring accessibility in case limits are depleted by claims.
Underwritten by Lloyd’s of London insurers, Marsh’s D&O Echo streamlines the placement process, allowing clients to access substantial capacity without the need for multiple layers of coverage from various insurers.
By simplifying the insurance layers and leveraging Lloyd’s claims scheme, Marsh’s D&O Echo aims to mitigate the complexities and streamline insurance processes for clients.
the number of separate insurers that need to be consulted in the event of a claim.
Stephanie Manson, UK Management Liability Leader, Marsh Specialty commented on the move, saying: “Clients have welcomed rate reductions over the last 12-18 months, they remain concerned that another correction in underwriting sentiment, could result in reduced capacity, substantial increases, and claims complications.”
She added: “D&O Echo provides clients globally with substantial capacity without being over exposed to a single insurer, which helps limit the risks of market volatility and provides enhanced excess cover beyond what is available in the standard open market.”
