Marsh Wins Broker Innovation of the Year Award At the Inaugural European Risk Management Awards
Marsh has received the “Broker Innovation of the Year Award” for the “ECHO” Excess Solutions suite (comprised of Cyber ECHO and Financial Lines ECHO) at the inaugural European Risk Management Awards.
Hosted by FERMA, the European risk management association, and Commercial Risk Europe magazine, the awards celebrate industry excellence, high achievement, and innovation among the European insurance and risk management community.
The “Broker Innovation of the Year Award” recognises innovations in customer care by firms providing vital services to the European corporate risk management market and risk transfer community over the last 12 months. The judging panel included presidents and directors at many of the federation’s national member associations across Europe, as well as leading risk and insurance managers within Ferma.
Marsh’s ECHO suite addresses terms and conditions in excess policies, which can serve as barriers to recovery from insurers in the event of a loss, or contribute to significant delays in recovery. It also provides clients with efficient excess coverage solutions that provide terms and conditions consistent with those in the followed primary policies, whilst offering a number of additional client benefits.
Cyber ECHO provides excess cyber cover and Financial Lines ECHO is a similar offering for other classes of management liability insurance (directors and officers, employment practices, pension trustee/fiduciary, commercial crime, and public offering of securities). Together, Cyber ECHO and Financial Lines ECHO are designed to help you avoid common pitfalls in standard excess policies, and assist with swift recovery in the event of a loss.
Commenting on the win, Leslie Kurshan, Head of Product Development for FINPRO UK, said: “The volume of enquiries following the launch of the ECHO suite highlights clients’ desire for innovative solutions that allow them to derive more value from their excess coverage. This award is testament to the work of the Marsh team in developing a truly ground-breaking solution in the global market.”