“We dont see the hardening of the market driving the need for the alternative markets,” he said. “We see a need for an alternative type of provider with a different operational model.”

Mr. Murphy said the terrorist attacks of Sept. 11 did not play a role in the introduction of the services, but it has “heightened” the need for this type of service. Developed over the last year by Fidelity, RM Access will work with the companys risk managers to develop a “wide range” of financial solutions to risk problems.

What will distinguish RM Access from the existing brokers, said Mr. Murphy, is that instead of coming to a client with a program in hand, the firm will analyze the clients insurance needs and ability to retain risk. After the analysis, RM Access would work to put the financing and insurance program in place with the client. The solutions would include a full array of risk financing including self-insurance, alternative risk financing and capital market solutions.

Fidelitys executives plan to work closely with their clients to jointly develop insurance and financing programs that would later be taken into the market place, Mr. Murphy said.

In building its client base over the next several months, the firm plans to target large companies with sophisticated risk management services that are highly placed in the companys organization, he said. The managers would be looking for “innovative” solutions, he said.

Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, October 29, 2001. Copyright 2001 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.

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