Property & Casualty Services

The primary focus of the Marsh & McLennan Agency's practice is to assist our clients in preserving their corporate assets and protecting their employees by offering utilitarian risk management services and insurance expertise. We are different than most brokers because we do not “sell” insurance, we provide risk transfer solutions to our clients that help protect them against their business and operational risks. We need to be a true business partner with each of our clients in order to understand and assess their business and operational risks. Only then are we able to provide risk transfer solutions that are effective. When insurance is the solution, we do not provide “off the shelf” policies; we tailor coverage that responds to our clients’ specific exposures. Once the coverage is noted we work on negotiating to obtain the most competitive pricing available in the marketplace. We also carefully negotiate insurance coverage specific to our clients’ exposures and provide risk management services that address the exposures that our analysis identifies. In the end, our services help to minimize, and in some cases eliminate, our clients’ business exposures, as well as lowering their overall cost of insurance and claims.

 

Risk assessments are comprehensive and holistic, focusing on all areas of risk inherent to our clients’ business. Enterprise risk management methodology provides a structured, disciplined approach to identifying and managing risk, and it allows our clients to better match and align their risks with their strategies, goals and objectives.

 

The three elements of risk assessment are:

 

           Risk Identification: What is at risk and from what sources?

           Risk Measurement: Consequence and likelihood of risk?

           Risk Prioritization: Most costly/disruptive risks and how to manage them?

 

We utilize many methodologies including- due diligence analysis, loss forecasting, claim modeling, claim audits, contractual liability reviews, risk tolerance assessments and many more. We review locations, processes, products and services and other assets that can lead to significant claims and then evaluate them to determine how best to manage and/or insure those risks. It is not a simple process and requires experience and expertise that is not inherent to many brokerage operations.