Marsh Enhances One-Stop Commercial Real Estate Insurance Solution
New York | January 09, 2020
ZMAX Plus Reduces Potential For Coverage Gaps
In order to address potential gaps in insurance coverage faced by US midsize commercial real estate firms, Marsh, the world’s leading insurance broker and risk advisor, today announced it has added several coverage enhancements to its ZMAX commercial real estate insurance program, including cyber liability.
With more than 30 property, casualty, environmental, management liability, and cyber liability coverage forms, ZMAX Plus, which is underwritten by Zurich North America, is a single-carrier solution that helps midsize US commercial real estate firms minimize potential coverage gaps as well as achieve cost savings and administrative efficiencies.
“Today’s real estate companies have to navigate a very challenging market characterized by unprecedented demographic shifts, sweeping technological disruption and an increase in natural catastrophes. They are looking for an innovative way to simplify their insurance programs while protecting against an increasingly complex range of risks,” said Jeffrey Alpaugh, Marsh’s Global Real Estate Practice Leader. “ZMAX Plus gives midsize real estate companies the protection they need through a comprehensive portfolio of insurance coverages as well as access to industry-leading risk engineering capabilities.”
All coverage lines are available with separate limits so claims in one line do not erode coverage in others. ZMAX Plus also minimizes the potential for coverage gaps, which can occur when purchasing multiple policies from different carriers.
“Our real estate customers tell us they need a risk-transfer solution that is broad enough to give them peace of mind, yet simple enough that they are not spending significant time and money to procure and manage,” said Paul Horgan, Head of US Commercial Insurance, Zurich North America. “ZMAX Plus addresses these needs and helps these firms compete with more confidence.”
Marsh is the world’s leading insurance broker and risk adviser. With over 35,000 colleagues operating in more than 130 countries, Marsh serves commercial and individual clients with data driven risk solutions and advisory services. Marsh is a business of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With annual revenue approaching US$17 billion and 76,000 colleagues worldwide, MMC helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Follow Marsh on Twitter @MarshGlobal; LinkedIn; Facebook; and YouTube, or subscribe to BRINK.