Marsh D&O Echo facility unveils enhanced coverage amid market volatility
Marsh D&O Echo facility unveils enhanced coverage amid market volatility | Insurance Business Canada
Professional Risks
Marsh D&O Echo facility unveils enhanced coverage amid market volatility
It is backed by insurers from Lloyd’s of London
Professional Risks
By
Kenneth Araullo
Marsh McLennan has introduced an enhancement to its directors and officers (D&O) insurance offering through the D&O Echo facility, aiming to bolster financial security for its clients against the backdrop of persistent market volatility and fluctuating insurance premiums.
The D&O Echo facility, accessible to Marsh’s international clientele across all principal sectors, including financial institutions, offers up to US$75 million in additional D&O insurance coverage. This coverage kicks in above the initial US$25 million.
Furthermore, Marsh offers the option for clients to secure a reinstatement of limits in advance or to fix a price for future reinstatement purchases, available in scenarios where existing limits are depleted by claims.
Backed by insurers at Lloyd’s of London, the D&O Echo facility allows clients to obtain substantial insurance capacity without the necessity of arranging multiple layers of coverage from various insurers – a practice that has become increasingly common in the D&O insurance sector.
Stephanie Manson, UK management liability leader at Marsh Specialty, highlighted the mixed feelings in the client community regarding recent rate reductions.
“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,” Manson said.
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