Transparency and Disclosure
We will disclose to you:
- the role or roles we perform in an insurance transaction,
- a list of the insurers we propose to approach on your behalf and,
- any equity interests we may have in those insurers.
In common with many financial organisations, we provide a range of services to a large number of clients. We also provide certain services to insurers. Situations may arise in which the interest of a client may conflict with those of another client or with our own interest. Accordingly, we have policies and procedures in place to ensure that should such circumstances arise, they are managed appropriately.
In addition, we aim to be clear with you as to how we are paid. We receive income in the following ways:
- From you - for our services in placing your insurance policies. This may be by way of a fee, or by us retaining commissions/brokerage on your premiums.
- From insurers — we may receive fees for consulting services provided to insurers which are aimed at improving their offering to our clients and for the administration of certain facilities. Insurers may also pay us for tasks we undertake on their behalf, such as the binding of cover and the issue of documentation. For certain types of business, we may earn an additional commission based on the profitability of a book of business to insurers. You can view the list of insurers with whom we have consulting agreements, Placement Plus and quota share arrangements.
- From other sources — from investment, interest and currency fluctuations related to the handling of client money. We also receive payments from the providers of premium finance facilities to our clients.
Marsh is part of the Marsh & McLennan group of companies, which includes Mercer and Oliver Wyman. It also includes Guy Carpenter, a specialist reinsurance broker, which may place reinsurance for one or more of your insurers.
For further information on this subject you can read our Guide on How We are Paid. If you have any questions, issues or concerns regarding how we are paid, then please contact a member of your Marsh service team. Alternatively, you may send an email to: firstname.lastname@example.org.
Marsh & McLennan Companies Inc. and its subsidiaries own equity interests and have contractual arrangements with certain insurers and wholesale brokers. Information regarding these arrangements is available below:
- Equity interests of Marsh & McLennan Companies, Inc. and its subsidiaries in insurers.
- Contractual arrangements between Marsh & McLennan Companies, Inc. and its subsidiaries with insurers and wholesalers.