Leadership shakeup at Marsh
Pandemic sees record growth in captives
Maureen Gorman, managing director, Marsh
Marsh has launched an ESG accreditation for directors and officers liability insurance.
Under the scheme, US-based clients with superior environmental, social, and governance frameworks can apply to engage with an assessor from a panel of international law firms. The firm will independently review and evaluate the framework and potentially work with applicants to revise it.
Subject to underwriting, successful clients will be considered for preferential D&O policy terms and conditions on ESG-related exposures, such as climate change disclosures and representations. Four D&O carriers are participating in the scheme: American International Group, Berkshire Hathaway Specialty Insurance, Sompo International, and Zurich North America.
“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 recognised 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 favourable coverage.”
According to Marsh, the scheme will be rolled out in London and other territories over the coming months.
Marsh, Launch, ESG, D&O, Insurance, Reinsurance, Maureen Gorman, North America