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India Transparency & Disclosure

As our client, we will always look to treat you fairly and put your interests ahead of our own.
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1st January 2026

About us and Whom are we regulated by

Marsh India Insurance Brokers Private Limited (“Marsh” or “we” or “our”) is an insurance broker licensed and regulated by the Insurance Regulatory and Development Authority of India (“IRDAI”) having our registered office at 1201-02, Tower 2, One World Centre, Jupiter Mills Compound, 841, S.B. Marg, Elphinstone Road (W), Delisle Road, Mumbai, Mumbai, Maharashtra, India, 400013. Our Composite Broking – Certificate of Registration no. 120 valid from 03/03/2024 to 02/03/2027.

Please read this initial disclosure document carefully and if there is anything that you do not understand, please talk to your regular Marsh contact.

Whom do we act for

As an independent insurance intermediary, we generally act as an agent of our clients.

We may handle claims on behalf of insurers in certain circumstances. We will advise you when these circumstances occur and inform you of how we will deal with any possible conflicts of interest. If we give you notice of a conflict of interest, you will have the right to cancel your contract with us immediately. If you do not cancel the contract, we will continue to provide the services.

Our obligations to you are solely contractual in nature. We will act as a fiduciary for you to the extent required under the rules and regulations of the IRDAI but do not have any enhanced fiduciary or other duty to you.

What are we authorized to do

Marsh is authorized to render (re)insurance broking, risk management services and claims consultancy services.

We are not authorized to render non-regulated services. For the avoidance of doubt, Marsh shall not provide tax, legal, accounting, financial or other advice or services which are intrinsically outside its scope as per applicable law. Any information or calculations that Marsh provides about insurance, regulatory and tax issues are based on publicly available information and Marsh’s experience derived from involvement in similar matters for other clients. In all instances, Marsh recommends that you seek your own advice on such matters from professional legal and tax advisers. It is your obligation to make declarations in respect of, and to account to any relevant revenue authority for, all insurance proceeds. 

Our Services

Marsh will discuss your insurance requirements with you, including the scope of cover, limits sought and cost of cover.

We will keep you informed of our progress and identify where we are unable to obtain all, or part of the cover sought by you. We will use reasonable endeavors to implement your insurance program, subject to available insurers, before the intended date of inception, renewal, or extension of cover (whichever is appropriate). We cannot, however, be responsible for the consequences of late instructions or the actions of third parties.

We will provide you with the information you need, to make a decision about insurance cover available. All decisions regarding the amount, type or terms of insurance covers shall be your sole responsibility. While Marsh may provide advice and recommendations, you must decide on the specific coverage that is appropriate for your particular circumstances and financial position.

Marsh does not assume any liability for the effectiveness or completeness of your existing insurance program (if any), or any insurance policies placed by you directly or by another insurance broker or for any acts or omissions occurring prior to the date of commencement of Marsh’s engagement. Marsh makes no representation or warranty concerning the application of policy wordings or the financial condition or solvency of insurers or reinsurers. Marsh makes no assurances regarding the availability, cost, or terms of insurance coverage. 

Where Client mandates Marsh and other broker(s) to provide services (each a “co-broker”), Client shall clearly specify the scope and fee of each co-broker. Marsh liability shall be limited to scope of services rendered by Marsh.

Consulting and Risk Management Services

Marsh will, if required by you and agreed by Marsh, provide Consulting and/or Risk Management services as permitted under the applicable provisions to insurance intermediaries and shall be entitled to charge a separate fee for these services.

In case we do not have the necessary skills or resources, we may engage external experts or specialists for undertaking risk management services or other similar services. In such case we will inform you and shall keep a record of the consulting or risk management services or such other similar services offered to you. 

Our relationship with Insurers and Market Security

Insurers are regulated by IRDAI and are required to comply with all laws of India, regulations, and conditions of doing business, including solvency requirements.

Marsh assesses insurers and markets with whom it places business on the Client’s behalf, using public information including that produced by recognized rating agencies. Marsh does not, however, guarantee or otherwise warrant the solvency of any insurer or market used for Client’s requirements. The decision regarding suitability of any insurer or market rests with the Client. If the Client has any concerns, regarding any insurers chosen, Client must advise Marsh as soon as possible, for further discussion.

Premium

Client should note that under Section 64VB of the Indian Insurance Act 1938, wherever applicable and as amended from time to time, premium is required to be paid by the insured, prior to the inception of the policy unless otherwise agreed by the insurer. Client shall provide settlement with cleared funds of all monies due, in accordance with the payment date(s) specified in Insurers invoice or other relevant payment documentation specified by the insurers. 

Marsh does not guarantee premiums quoted by insurers. All premium quotations provided by insurers are subject to subsequent acceptance by insurers, unless otherwise stated. All premiums quoted include our remuneration where applicable.

How we are paid

Subject to any more specific term separately agreed in writing, our remuneration is based on brokerage/commission which is payable out of premium paid by Client and allowed by the insurer(s) with whom Client’s cover is arranged.

On occasions, Marsh may be remunerated by both a fee (“Engagement Fee”) paid by the client and brokerage paid by insurer.

Our Engagement Fee represents the minimum fee Marsh seeks as fair compensation for its services. The remuneration mentioned above does not include fee for any consulting and risk management services that may be separately agreed between us.

Under the Indian regulations, Rewards have been conceptualized as incentives paid by insurers to insurance intermediaries as per their internal policies. These are mostly forward-looking arrangements that may provide increased revenue either upon fulfillment of specified criteria or could be earned purely as incentives with no underlying conditions. They are reflective of the quality and quantity of a broker’s distribution and are not compensation for the services provided to insurers.

Insurers may pay us rewards as incentives in accordance with the Insurance Regulatory and Development Authority of India (Expenses of Management, including commission, of Insurers) Regulations, 2024 (as amended from time to time) (“EOM Regulations”).

Compliance with Applicable Laws

Marsh is required to act in accordance with the laws, regulations and requests of regulatory authorities operating in various jurisdictions which relate amongst other things, the prevention of money laundering, terrorist financing and the provision of financial services to any persons or entities that might be subject to sanctions. Marsh may take actions at the request of regulatory authorities and other companies within the Marsh Group of companies, these actions include delaying or rejecting your requests.

You acknowledge and agree that Marsh is unable to provide broking, risk consulting, claims or other services or provide any benefit to the extent that the provision of such services or benefit would violate applicable laws or expose Marsh or the Marsh Group to any sanction, prohibition, or restriction under United Nations Security Council Resolution or under other trade or economic sanctions, laws or regulations. You agree to comply with the Marsh Greater Good policy available on the Marsh website - integrity.mmc.com - and acknowledge that Marsh may suspend or terminate its services if they conflict with this policy.

Disclosure of Information

You are responsible for providing us or your insurers with the complete and accurate information we request from you to enable us to seek the cover you require. Marsh will share the information and data provided by you with insurers and third parties in connection with the services on an “as is basis”. We will not be responsible or liable for any consequences which may arise from any delay or failure by you to do so.

Marsh may disclose the Confidential Information/Personal Information/data to its affiliates, insurance intermediaries, to insurers and / or reinsurers for the purpose of providing underwriting information to insurers, to obtain quotations and, if instructed, arrange insurance and to provide its services.

Retention

Marsh may retain documents for business effected on Client’s behalf in electronic form or paper in accordance with applicable laws in effect from time to time. Thereafter Marsh may destroy documents, as legally permissible, without further reference to the Client.

Marsh may retain one copy of data, information and documents provided by you in whatever form of media, for its file, regulatory and internal compliances and back-up purposes.

Data Protection and Data Security

You and Marsh will observe the provisions of any data protection or privacy legislation as applicable from time to time. This includes any obligation, if any, for the provider of personal data to obtain any required consent(s) in respect of the transfer of personal data to the recipient by the provider or any third party that is subject to applicable data protection or privacy legislation and any obligation with respect to the use, disclosure or a transfer by the recipient of personal data necessary to carry out its obligations under this agreement. Unless otherwise required by applicable law, Marsh is not responsible for seeking consent from any data subject, where such data subject is related to You, whether as an employee, client or member of a group, or other similar form.

Marsh handles personal data as per the ‘Marsh Privacy Policy’ available on our website which is in accordance with the applicable data protection laws, as on the effective date of this Agreement, while rendering Services to Client and in performing its obligations under this Agreement.

If you are not happy with our service

Your Rights

It is our intention to provide you with a high level of customer service at all times. However, if you are dissatisfied with any aspect of our insurance services, you may make a complaint either in writing or by any other means to your usual point of contact or grievance.india@marsh.com.

Governing Law

Nothing contained in any contract between the client and us shall be deemed to modify or supersede these disclosures. These disclosures will be governed by and construed in accordance with Laws of India and any dispute arising under it shall be subject to the exclusive jurisdiction of the Courts of India.