Marsh’s clients—especially those with J.D.s—are big fans of the brokerage’s ability to secure coverage for known conditions.
“Marsh has helped pioneer insurance coverage with respect to known conditions, and in the context of our private-equity M&A practice, this really has helped facilitate a lot of deals, particularly in the heavy industrial sector,” says James Barrett, a partner at Latham & Watkins.
DuPont was considering a policy that would have covered known conditions for a $5 billion deal involving the divesture of 35 properties outside the U.S. Ultimately, the chemical giant opted to forego the coverage.
But Lori Sanders, a senior counsel in DuPont’s legal department who focuses on environmental issues, notes the pricing and terms and conditions that Marsh was able to get quoted for this deal from two different carriers were “fantastic,” and she expects DuPont will take advantage of the cover for future transactions.
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