Insurance broker Marsh Risk, a business of Marsh, has launched a new Bermuda-based insurance facility, BX1, designed to deliver significant excess casualty capacity to US-based clients.
BX1 provides US clients facing a demanding casualty market with a unified $50 million block of excess casualty capacity.
With consolidated capacity from leading Bermuda insurers Ascot, Markel, Ark, and Sompo, this Marsh Bermuda contract guarantees placement certainty and features superior policy terms tailored for complex risk needs, the firm stated.
This structure helps simplify documentation and claims handling by providing a single claims decision-maker and contact, reducing administrative complexity and claims expenses for clients.
The policy is issued on the proprietary Marsh XSellence excess casualty form delivering follow-form coverage and includes affirmative coverage for punitive damage.
Notably, it includes punitive damages, a crucial insurance protection frequently excluded or restricted in standard casualty programs.
BX1 is structured to accommodate the needs of intricate casualty placements across nearly all industries, offering a minimum attachment point of just $10 million, with the flexibility to attach at higher limits.
Commenting on the facility, Lindsay Roos, Bermuda CEO, Marsh Risk International Placement: “The US casualty market continues to present significant challenges, with increasing complexity and exposure for clients.
“BX1 addresses these challenges by offering a large, consolidated block of capacity with placement certainty and streamlined claims handling. This facility provides our clients with clarity, enhanced coverage, and the confidence to navigate a demanding liability environment with greater ease.”
