A Marsh client had won a tender to operate an international database that had to comply with new international law.
The client required Errors and Omissions cover, but this cover had to be tailored to meet the requirements for cover under the legislation. The insurance solutions also had to be put in place for a fixed budget. Furthermore, the final procedures and regulations surrounding the legislation were still being finalised.
Marsh was able to work with the insurance market to help tailor the insurance to the requirements of the legislation and obtain cover.
The work carried out by Marsh and the insurance markets in terms of suggested risk management best-practice and design of the insurance placement allowed the client to secure much higher limits than originally anticipated under their fixed budget.
Managing your risk