American investment bank, Morgan Stanley has announced that it will now be offering Property and Casualty (P&C) insurance to its high net-worth (HNW) clients and their families.
Morgan Stanley has teamed up with re/insurance brokers HUB International, Marsh Private Client Services, and Willis Towers Watson (WTW) in order to offer this new insurance cover.
This new service is to mitigate potential risks associated with property loss and general liability and is an expansion of the insurance they currently offer.
HUB International, Marsh Private Client Services and WTW will assist Morgan Stanley clients in this new arrangement, as they will assess the risk exposures and provide solutions to help their customers protect their assets.
The services that the insurers will offer include a continuous policy review, an alert for situations such as hurricanes, support from their customer service teams, and a streamlined approach for processing the insurance claims.
“Our clients place a high priority on asset protection and by working with these industry-leading insurance brokers, Morgan Stanley can address their need for a comprehensive insurance strategy as part of their overall relationship,” said Joseph Toledano, Head of Insured Solutions, Morgan Stanley Wealth Management Investment Solutions.
In addition, through this arrangement, Morgan Stanley clients will now have access to a range of personal and commercial insurance lines.