Given the breadth of its client base—and the complexities of Environmental exposures—it’s inevitable that Marsh’s clients will encounter risks for which no insurance solution exists. In these situations, the Environmental practice, which prides itself on its innovation, will work to develop a risk-transfer product that addresses the gap and then will find a carrier willing to support it.
“We take the lead in identifying those unmet needs and then going to the marketplace and getting those endorsements—and then rolling them out throughout the industry where the risk exists,” says James Vetter, a managing director and the member of the Environmental team with a special expertise in the retail, wholesale and food-and-beverage industries.
Vetter, for example, spent the last six months working with a number of markets to come up with a disinfectant endorsement so that when a company has a product recall due to an outbreak of salmonella or another bug, carriers will now respond and pay for those cleanup costs.
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