FINPRO Financial Institutions Center of Excellence
Published: 04-Nov- 2011 | Product Category: Financial and Professional
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Helping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. A significant differentiator for Marsh is our depth of experience in the financial institutions industry segment.
Marsh’s FINPRO Practice serves as broker to more than 2,500 financial institutions (FI) clients worldwide, placing more premium into the global insurance marketplace than any other broker. As such, we have superior knowledge of coverage terms, pricing, and trends.
Our FINPRO financial institutions clients include:
- more than 60% of Fortune 500 financial institution;
- approximately 75% of the Fortune top 50 financial institutions;
- 20 of the top 25 U.S. bank holding companies;
- 16 of the top 25 U.S. insurance holding companies; and
- 45 of the top 100 asset management firms.
We further differentiate our work for FIs through our Financial Institutions Center of Excellence (FI COE). The FI COE, based in New York, comprises 25 professionals and is led by a team of senior advisors, each with more than 15 years of industry experience. This aggregation of talent, experience, and knowledge within our FI COE produces best-in-class results.
We help our FI clients navigate through business challenges, such as:
- bankruptcy proceedings including liquidation, receivership, and conservatorship;
- initial public offerings of securities;
- mergers, acquisitions, divestitures, and related run-off or tail programs;
- tailoring policy contracts to address new regulations;
- complex claims negotiation and settlement; and
- international insurance programs in non-admitted jurisdictions.
Products and Services
The FI COE specializes in providing insurance placement, advisory, and claims advocacy services in connection with complex management and professional liability exposures, including:
- Directors and Officers Liability (D&O)
- Professional Liability/Errors and Omissions Liability (E&O)
- Cyber/Privacy Liability
- Employment Practices Liability (EPL)
- Fiduciary Liability
- Outside Directorship Liability
- Partnership Liability
- Representations and Warranty Liability
- Tax Liability
- Special Risk Insurance
The lines of business and industry sectors we serve include:
- Banking and consumer finance companies i.e., commercial, regional, community, and shelf charter banks; specialty finance companies; business development companies; mortgage brokers; credit card issuers; government-sponsored entities; credit unions
- Insurance companies i.e., property, casualty, life, and health insurers; insurance agents and brokers
- Investment management companies i.e., mutual funds; hedge funds, exchange-traded funds; real estate funds; closed-end funds
- Securities firms i.e., security-broker dealers; exchanges; clearing agents; custodians; transfer agents
In partnering with Marsh, your organization will benefit from our:
- highly experienced brokers offering knowledge that is unmatched in the industry;
- deep understanding of the risk issues impacting financial institutions;
- superior benchmarking data and analytics to support risk strategies and decision making;
- global advisory expertise resulting in customized program design;
- unparalleled placement expertise resulting in favorable pricing, terms, and conditions;
- focused innovation and creative risk solutions designed to address evolving risk issues;
- integration of our operational risk expertise into insurance program design and placement;
- dedicated claims advocacy group, which assists in contract review and provides zealous advocacy during claims resolutions; and
- client-first culture, internal professional standards, and detailed timetables to ensure outstanding service.
We recognize that your company requires high-end professionals to analyze its exposures, assist in policy drafting, and—most importantly—consult on the myriad of issues that arise in the course of a complex claim negotiation or settlement. Marsh’s Claims Advocacy Practice, a division of the FINPRO Practice, is comprised of 14 senior claims attorneys, all of whom have prior professional experience from major insurers and/or insurance defense law firms. The combination of our expertise and diverse perspectives helps you derive superior value from your insurance programs when it matters most.
Please contact your local Marsh representative or a member of our FI Center of Excellence for a more detailed discussion on how we can assist you with your company’s unique risk management needs.
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