The Client and Its Challenge
One month before renewal our client, one of the world leaders in the entertainment and radio/television industries, released a request for proposal on its property insurance. Marsh met with the client to discuss its renewal goals and to determine whether the team could provide a solution that fulfilled all of its requirements. Their main goal was to bring in recent acquisition properties into the main property program and to keep the premium increase to a minimum.

The insurance market advised the client that it did not have adequate information to place the business. The client needed to provide the additional information to the market before its renewal date or risk being denied coverage.

The Risk Consulting Solution
Because of its global reach, Marsh was confident that the required information could be compiled before renewal. However, this confidence carried with it one caveat — that the client provide Marsh with timely access to its key facilities and corresponding information in both the United States and the United Kingdom. By meeting with the client’s corporate risk management group, Marsh was able to identify, locate, and analyze the business units and physical locations with the largest property exposures. Each key facility was surveyed and a property marketing report with calculated potential loss values was developed by location.

Results
Within the allotted four weeks, the Marsh team produced all the required reports that provided the insurance markets with the information needed to accurately and confidently comprehend and evaluate our client’s property exposures. Armed with these reports, Marsh was able to place the business at a negotiated satisfactory premium level for the client.