Public Sector

In the face of ongoing pressure on budgets, public sector organisations need innovative strategies that help lower the total cost of risk and support frontline service improvements.

The public sector faces considerable challenges. Local and central government, government agencies, emergency services, and social housing providers need to control costs, build resilience into service delivery, and shape strong and vibrant communities. Effective management of risk plays a key role in meeting these challenges. That’s where Marsh can help.

For example, by the innovative use of data analytics and actuarial modelling, Marsh can challenge your current risk financing strategy and drive value for money through your procurement of insurance protection.  Our experts will spend time understanding your needs and align your risk financing strategy with your corporate objectives.  We will also drive efficiency through the procurement of insurance protection and will only recommend you pass your risk to the market once that risk has clearly been defined and rationalised with you. Our risk management and claims expertise support this more focused approach and can help you remove costs from your operations and improve resilience.

Much can be achieved with focus, determination, and original thinking. Our risk management, claims, and analytics experts support you as required. Day-to-day technical support and insurance programme management is provided by specialist client advisers who work closely together to ensure experience is shared between team members.

The result of Marsh’s public sector expertise: comprehensive, innovative risk management and risk transfer solutions that can help you achieve value for money while lowering your total cost of risk.

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From cities and states to utilities and transit organizations, public entities are exposed to many types of risks, including:

  • Cyberattacks: Ransomware attacks against public systems have become increasingly common in recent years. These incidents not only have the potential to shut down administrative functions, but can also leave residents without access to vital public services. Public entities should prioritize efforts to protect their digital assets and the private information of citizens.
  • Reputation management: How governments respond to and communicate with constituents on a day-to-day basis and in crisis situations is critical. Heightened visibility across all digital channels requires stringent public relations policies and proactive planning in the event of an incident.
  • Fleet management: Distracted and impaired driving, as well as a shortage of experienced drivers, are just some of the factors increasing the risk of accidents, claims, and related costs. Public entities should establish and maintain fleet management strategies that promote safety, minimize exposures, and reduce costs.

Public entities should consider all areas of risk to plan for and minimize the impact of existing and emerging vulnerabilities. A comprehensive approach to these threats helps you not only manage cost, but also enhances the safety of staff and the public.

As a result of increased litigation, aging infrastructure, and elevated public scrutiny, public entities require a unique approach to insurance to protect their people and property, which covers:

  • Management and professional liability: These policies protect public entities and staff against circumstances not covered under a traditional commercial policy. This can include losses caused by a wrongful act resulting in a loss while conducting duties by or on behalf of the group.
  • Auto liability: Fire trucks, ambulances, police cars, buses, road and street maintenance vehicles, and other emergency vehicles all require coverage in the event of bodily injury or property damage.
  • Cyber risk: The resulting fallout of a cyberattack can include severe consequences for a public entity, such as data leaks, extortion, and fraud. This form of coverage typically includes expenses related to these consequences, as well as those stemming from related network or information security failures.

For public entities, developing a comprehensive approach to risk management means addressing each of these vulnerabilities and any related to their unique constituents or the day-to-day function of their work.

At Marsh, our analytics, risk management, and local teams can help you develop fit-for-purpose risk financing and management strategies to continue to support the public while mitigating risk.

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William Lee

Sales Leader, Senior Vice President

  • Taiwan