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Risk in Context Podcast: Managing Catastrophe Risk via Insurance

Marsh’s Mike Rouse and Chad Wright discuss property, business interruption, and parametric insurance options for companies to mitigate the risks from natural catastrophes.

Flood water - Sandbags for flood defense

20/07/2021

To manage the risks presented by natural catastrophes, it’s vital that risk professionals understand their insurance options.

This episode of Marsh’s Risk in Context podcast features Marsh’s Mike Rouse and Chad Wright on property, business interruption, and parametric insurance solutions available to businesses.

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Key takeaways

  • While property policies require that losses be reported, assessed, and adjusted in an often lengthy process, parametric policies can offer a more straightforward and potentially quicker claims process.
  • Parametric solutions, however, have some limitations, and are often used as a complement to conventional property and business interruption policies.
  • To choose the right approach, risk professionals should understand their organisations’ risk tolerance and work with advisors that understand the benefits and drawbacks of each option and that can structure policies to effectively address their risk.

About our speakers

Michael Rouse

Michael Rouse

US Property Practice Leader, Marsh

Based in New York City, Michael Rouse is the leader of Marsh’s US Property Practice. His responsibilities include overseeing all property placements in the US for both global risk management and corporate brokerage segments. In addition to his management responsibilities, he is directly involved in the development, design, and placement of domestic and global insurance programs for several Fortune 1000 companies and public entity clients.

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Chad Wright

Managing Director, Head of Alternative Risk Transfer Group (ARTG) U.S. and Canada

  • United States

Chad Wright is Marsh’s US & Canada Alternative Risk Transfer (ART) Group Leader. He works with colleagues and clients to define ART goals and requirements and helps facilitate the execution of related processes and projects. This includes bringing together wider Marsh resources in support of clients’ complex risk strategies.