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Around the P&C insurance industry: Nov. 4, 2015

News from IMCA, Marsh, Integro and more.

By Trudy Knockless | Updated on November 04, 2015
Photo: Shutterstock/Tashatuvango

Kansas City, Mo.-based Lockton Cos. has opened an office in McLean, Va. This office in Northern Virginia is an extension of Lockton’s existing operation in Washington, D.C. The new office is at 8280 Greensboro Drive and is expected to be in operation by Dec. 1.

New York City-based insurance professional services company Marsh is now offering Marsh IO+, an enhanced excess casualty policy form for companies with significant product and other mass tort exposures. Marsh IO+ is an occurrence-reported excess casualty form that includes the “integrated occurrence” feature found in standard occurrence-reported forms. The feature allows insureds to batch claims into a single occurrence, potentially saving them significant retention costs. Marsh IO+ also includes features such as separate aggregate and unaggregated auto liability limits, expanded pollution coverage, acceptance of standard umbrella submissions, and automatic extended reporting coverage. Marsh IO+ supports up to $300 million in limits excess of attachment points, depending upon risk profile, from as low as $10 million to a projected average of $25 million.

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