Guy Carpenter, the reinsurance broking arm of Marsh & McLennan, has announced that Victor US, which is the US business of affiliate Victor, is to offer Guy Carpenter clients who are members of US public entity insurance pools with a range of property and casualty (P&C) solutions not traditionally offered in pools.
Reinsurance broker Guy Carpenter explains that public entity insurance pools provide P&C protection to most local governments in the US.
As part of the broker’s Public Entity Facility, Guy Carpenter offers highly focused consulting and reinsurance intermediary services that are tailored to address a pool’s operational and strategic risks.
The offering from Victor US, which works with leading insurance carriers to offer a wide range of products and programs, will give individual local government pool members access to insurance products covering risks such as cyber liability, flood, and special events.
Victor US is a division of Victor Insurance Holdings, formerly known as The Schinnerer Group, and which is the largest managing general underwriter in the world.
Mike Waterman, Guy Carpenter’s Public Entity Segment Leader, commented: “The support of Victor will give our clients the ability to offer their members access to virtually any property casualty coverage they may need, deep insurer relationships, and market-leading service support.”
Head of Broker Distribution at Victor US, Bill Balderston, added: “From the growing risks around terrorism and active shooters to the need to protect against adverse weather, local governments across the US are facing an increasingly complex risk landscape.
“Through our collaboration with Guy Carpenter we will now be able to offer them a breadth of insurance solutions they need in one convenient place.”
The reinsurance broker states that its enhanced Public Entity Facility will begin placing business on January 1st, 2020.