As our client, we will always look to treat you fairly and put your interests ahead of our own. We will disclose to you:
- the role or roles we perform in an insurance transaction;
- our interests in, and payment arrangements with, insurers; and
- the insurers we intend to or have approached prior to placing any insurance.
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.
You can read further details about how we manage conflicts of interest in the Marsh and McLennan Companies Code of Conduct – The Greater Good.
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 issue of documentation.
- From Other Sources – from investment, interest and currency fluctuations related to the handling of client money.
Marsh is part of the Marsh & McLennan group of companies, which includes Mercer, Oliver Wyman and Guy Carpenter. Guy Carpenter is 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 to How We Are Paid.