Insurance broker and risk advisor Marsh had signed a five-year broker agreement with HSBC, building on an 11-year relationship that began in 2010.
Marsh, a major insurance broker and risk expert, has struck a new broker relationship with HSBC.
The new five-year deal extends an 11-year partnership that began in 2010. On insurance solutions for corporates, the agreement includes seven markets: France, Hong Kong, mainland China, Mexico, Turkey, the United Kingdom, and the United States.
“Insurance is a crucial element of risk mitigation; it protects firms against shocks and enables robust recoveries, should an incident occur,” said Chris Lay, CEO of Marsh UK & Ireland. We’re excited to expand Marsh’s partnership with HSBC as we continue to provide solutions for their consumers around the world.”
Offering better insursnce solution
Marsh will function as a broker for insurance products – such as property, casualty, and other risk transfer solutions – through a referral model, finding solutions from third-party suppliers to meet HSBC’s commercial banking customers’ insurance needs. Customers of HSBC commercial banking will have access to world-class insurance products not currently offered through the HSBC portfolio as a result of the arrangement.
“We are convinced that this partnership with Marsh will deliver a more comprehensive array of services and products to our consumers, and offer best-in-class insurance solutions,” said Eric Emore, Global Head of International & Partnerships at HSBC Life. We’re looking forward to continuing and expanding our partnership.”
Managing cyber incidents
Marsh provides data-driven risk solutions and advisory services to commercial and individual clients with over 45,000 employees operating in 130 countries. Marsh is a division of Marsh McLennan, the world’s largest professional services firm in the risk, strategy, and people management fields. Marsh McLennan helps clients navigate an increasingly dynamic and complicated world through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman, with annual revenue of approximately $20 billion.
Helen Nuttall has been named UK Head of Cyber Incident Management, Marsh Specialty, while Patrick Cannon has been named UK Head of Cyber Claims by Marsh.
Ms. Nuttall’s new role entails assisting UK clients in preparing for, responding to, and recovering from a cyber attack. This involves customising cyber incident response tactics ahead of time, handling the intricacies of cyber incidents when they happen, and assisting with the preparation of post-event insurance claims. She will also collaborate with colleagues in cyber event management around the world to improve customers’ cyber preparedness and resilience.
