Marsh & McLennan Companies - Steven Wevodau
Marsh & McLennan sets 20-cent quarterly dividend - posted by Steven Wevodau
Marsh & McLennan declares quarterly dividend of 20 cents, payable Feb. 17
- Friday January 23, 2009, 6:38 pm EST
NEW YORK (AP) — Marsh & McLennan Cos. declared a quarterly dividend of 20 cents.
The consultancy group said it will pay the dividend on Feb. 17 to shareholders of record Jan. 30.
MMC Declares Quarterly Dividend - posted by Steven Wevodau
NEW YORK–(BUSINESS WIRE)–The Board of Directors of Marsh & McLennan Companies, Inc. (MMC) today declared a quarterly dividend of $.20 per share on outstanding common stock, payable on February 17, 2009 to shareholders of record on January 30, 2009.
MMC is a global professional services firm providing advice and solutions in the areas of risk, strategy and human capital. It is the parent company of a number of the world’s leading risk experts and specialty consultants, including Marsh, the insurance broker and risk advisor; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of HR and related financial advice and services; Oliver Wyman, the management consultancy; and Kroll, the risk consulting firm. With more than 55,000 employees worldwide and annual revenue exceeding $11 billion, MMC provides analysis, advice and transactional capabilities to clients in more than 100 countries. Its stock (ticker symbol: MMC) is listed on the New York, Chicago, and London stock exchanges. MMC’s website address is www.mmc.com.
Contact:
Marsh & McLennan Companies, Inc. Media: Christine Walton, 212-345-0675 christine.walton@mmc.com or Investors: Mike Bischoff, 212-345-5470 jmichael.bischoff@mmc.com
Marsh Introduces Comprehensive Insurance Program to Help Mid-Sized Real Estate Firms During Economic Recession
Posted by Steven Wevodau
Firms New PRIZM Program Packages Key Coverages For Cost Savings, Administrative Efficiency
- Thursday January 15, 2009, 3:32 pm EST
NEW YORK–(BUSINESS WIRE)–As mid-sized commercial real estate firms work to navigate the challenges of the economic recession, Marsh, the world’s leading insurance broker and risk advisor, has announced the creation of a comprehensive insurance program that may help these firms achieve cost savings and administrative efficiencies through portfolio purchasing power.
The Marsh program, known as PRIZM (Portfolio Real Estate Innovations Zurich Marsh), offers a single solution that can provide coverage for a wide range of property, casualty, environmental, and management liability exposures facing these firms today. Member companies of Zurich North America Commercial are underwriting the program.
“As they try to navigate in this difficult economy, many real estate firms throughout the U.S. are looking for innovative approaches to simplify their insurance programs in ways that can enable them to achieve cost savings and streamline administration,” said Jeffrey S. Alpaugh, a managing director of Marsh and leader of the firm’s Global Real Estate Practice. “This program gives mid-sized real estate companies the advantage of a one-stop solution for the wide range of insurance coverages typically needed to protect real estate firms against the array of risks confronting them.”
The new Marsh program provides a comprehensive packaged product offering, including:
- Property insurance, including standard perils, green building exposures, and builder’s risk, as well as catastrophe coverage for windstorm, flood, earthquake, and terrorism;
- Casualty lines, including general liability, auto, statutory workers’ compensation, umbrella liability, and environmental;
- Management liability, including directors and officers liability (D&O), employment practices liability insurance, errors and omissions, and fiduciary liability coverage.
All coverage lines are available with separate limits so claims in one line do not erode coverage in others. In addition, the consolidation of coverages in the program can help to reduce the potential for gaps in coverage. PRIZM may be available for all segments of the commercial real estate industry, including office, industrial, retail, hotel, and apartment properties.
Additional information is available by contacting Jeffrey Alpaugh at 617-385-0476 or email to Jeffrey.S.Alpaugh@marsh.com.
Marsh has 24,000 employees and provides advice and transactional capabilities to clients in over 100 countries. Marsh is a unit of Marsh & McLennan Companies (MMC), a global professional services firm with more than 55,000 employees and annual revenue exceeding $11 billion. MMC also is the parent company of Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of HR and related financial advice and services; Oliver Wyman, the management consultancy; and Kroll, the risk consulting firm. MMC’s stock (ticker symbol: MMC) is listed on the New York, Chicago and London stock exchanges. MMC’s Web Site is www.mmc.com. Marsh’s Web site is www.marsh.com.
Contact:
Marsh Al Modugno, 212-345-2448 alfred.j.modugno@marsh.com
Former USI CEO Eslick Named Chairman of New Marsh Retail Agency - posted by Steven Wevodau
Marsh has named David L. Eslick as chairman of Marsh & McLennan Agency LLC, its new agency for small and emerging growth U.S. companies.
Eslick, who has 30 years of experience in the insurance industry, most recently was chairman, president and CEO of USI Holdings. He led USI’s rapid expansion during the past five years to become the ninth largest insurance brokerage in the U.S., negotiating and completing more than 50 acquisitions in the process. Under his leadership, USI doubled its annual revenues.
He will work with Jack Butcher, who is president and CEO of the new agency.
In October, Marsh announced the establishment of Marsh & McLennan Agency offering commercial property and casualty, directors and officers liability, surety, employee benefits and personal lines products to customers through retail locations across the U.S. By combining the product and service capabilities of chosen insurance companies with Marsh’s industry expertise, the firm’s dedicated teams will deliver local customer service focus, valuable insurance market relationships, and access to global resources.
Eslick joined USI in San Francisco in 1997, serving as a senior vice president of Sales. He became president and chief operating officer in 1999, and chairman, president and CEO in 2002.
He began his insurance career with Ohio National Life in 1979, and held positions with Prudential Insurance and Acordia (now Wells Fargo Insurance) before joining USI.
Marsh & McLennan Agency will begin operating in the coming weeks in select cities across the United States.
Source: Marsh
www.marsh.com
New Issue of Viewpoint Magazine Now Available - posted by Steven Wevodau
- Risk Governance: Seeing the Forest for the Trees – A look into the reasons why risk management failed so many institutions so spectacularly and led, in part, to the financial crisis. Written by Andrew Kuritzkes, a partner and senior member of Oliver Wyman’s Finance and Risk practice, the article goes on to discuss what organizations can do to avoid making the same mistakes.
- Leading Through a Crisis: Getting Back to Basics – With the current financial crisis as a backdrop, Mark Nadler and Janet Spencer of Oliver Wyman’s Delta Organization & Leadership business discuss the guiding principles needed for top leaders to steer their organizations through the toughest of times.
- Food-Safety Strategies: How to Protect Your Company and Your Consumers – Given the unprecedented number of food-borne illness (in the United States alone there are an estimated 76 million illnesses and 5,000 deaths annually) organizations need to be proactive and have demonstrable systems in place to protect their consumers by managing food-safety risks across their supply chain. In this article, Melissa Hersh and Hester Shaw of Marsh Risk Consulting explore the steps companies can take to protect themselves and their consumers.
- Healthcare Planning for an Aging World – Christine Owen of Mercer’s Global Health Management Consulting practice takes a close look at the World Economic Forum report The Future of Pensions and Healthcare in a Rapidly Ageing World: Scenarios to 2030, which indicates that new forms of collaboration between key stakeholders – individuals, financial institutions, healthcare providers, employers, and governments – will be critical in order to finance the ongoing well-being of current and future generations in a sustainable manner.
- The Continuing Evolution of Risk Modeling – Ryan Ogaard, Global Head of Guy Carpenter’s Instrat® Unit, discusses the expertise, technology, and best practices that have evolved to help firms overcome the inertia that has kept them from implementing a holistic risk management framework.
MMC is a global professional services firm providing advice and solutions in the areas of risk, strategy and human capital. It is the parent company of a number of the world’s leading risk experts and specialty consultants, including Marsh, the insurance broker and risk advisor; Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of HR and related financial advice and services; Oliver Wyman, the management consultancy; and Kroll, the risk consulting firm. With more than 55,000 employees worldwide and annual revenue exceeding $11 billion, MMC provides analysis, advice and transactional capabilities to clients in more than 100 countries. Its stock (ticker symbol: MMC) is listed on the New York, Chicago, and London stock exchanges. MMC’s website address is www.mmc.com.
Contact:
Media: MMC Vince Beatty, 212-345-5644 vincent.beatty@mmc.com or Investor: MMC Mike Bischoff, 212-345-5470 jmichael.bischoff@mmc.com
Source: Marsh & McLennan Companies, Inc.
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