US Chemical Practice Leader
Chemical companies operate in a dynamic and ever-evolving environment. From developing advanced technology to meet the demands of a sophisticated and socially-conscious customer, to navigating disruption-prone supply chain networks, these companies face an actively changing risk landscape.
With the adoption of newer technology in critical parts of their business models, chemical companies must place greater focus on cybersecurity to minimize business interruption and financial impacts to their businesses. Chemical companies also need to anticipate and plan for potential risks, including operational hazards, severe weather, product liability, worker injuries, and other disruptive events, and take measures to manage and mitigate them.
Our dedicated Chemical Industry Practice specialists understand the unique risks, threats, and opportunities that matter to you. We combine global experience with local expertise to help you identify, assess, and prioritize the risks facing your chemical business and offer you tailored insurance and risk management solutions to help your business remain resilient and be successful.
In the US, the chemical industry is undergoing unprecedented change. In addition to operating under increasing federal and global regulatory pressures, geopolitical uncertainty, and supply chain disruptions, the COVID-19 pandemic and recent severe weather events further highlighted the vulnerability of the industry to business interruption. From plant, border, and port closures, to employee safety measures, and navigating transportation/logistics disruptions, the need for stronger enterprise risk management has become more critical for chemical companies.
Our US Chemical Industry Practice team, with over 100 dedicated colleagues, understands the unique challenges US chemical companies face. Our risk specialists have the knowledge and networks needed to help you effectively anticipate, mitigate, and transfer the various risks you face, so you can embrace new opportunities while minimizing the impacts to your bottom line.
Given the complexities and pervasiveness of cyber risk, organizations can benefit from experienced risk advice when managing their exposures. We can help you assess and quantify your cyber risk, prepare for and respond to cyberattacks, transfer your risk, and build lasting risk management and resilience.
Casualty losses are a significant driver of total cost of risk for most organizations. Spanning multiple disciplines and specialties, our liability risk specialists can help you analyze your exposures, identify and prioritize cost reduction opportunities, and optimize your casualty insurance and risk management program.
Protection and preservation of the environment have become key issues for society, governments, and corporations. Given regulatory oversight and social responsibility demands, it’s imperative for companies to identify and manage environmental risks. Our industry-leading specialists can help you solve for these complexities.
Property risk comes in many different forms and proactively minimizing exposures can protect companies when the worst happens. Our specialists can assist you with identifying your risks, analyzing and prioritizing them, and optimizing your property insurance and risk management program.
With facilities, suppliers, and end users located in severe weather prone regions around the globe and exposed to many other threats, chemical companies face the following primary areas of risk:
When working with hazardous materials and sensitive data, it’s important to account for all three threats to support a comprehensive approach to risk management. Recognizing and addressing emerging threats will help mitigate the financial, operational, and human impacts related to these adverse events.
Due to the broad range of risk chemical companies are exposed to, companies often deploy a combination of policies and risk transfer strategies to protect assets and minimize potential damages. Some options for addressing their key areas of risk exposure include:
Using our data and analytics tools, Marsh will benchmark and quantify the unique risk exposures to which your company is vulnerable. From there, we’ll build a risk management program that can help protect your company against potential threats or damages.
With Marsh, you’ll gain insights into your exposures and be able to implement appropriate risk mitigation and transfer strategies.
US Chemical Practice Leader