In common with many financial organisations, we provide a range of services to a large number of clients. We also provide certain services to insurers. Situations may arise in which the interest of a client may conflict with those of another client or with our own interest. Accordingly, we have policies and procedures in place to ensure that should such circumstances arise, they are managed appropriately. You can contact us if you would like more information about how we manage conflicts of interest.
You can also read the Marsh and McLennan Companies Code of Conduct – The Greater Good.
Marsh is part of the Marsh & McLennan group of companies, which includes Mercer and Oliver Wyman. It also includes Guy Carpenter, a specialist reinsurance broker, which may place reinsurance for one or more of your insurers.
Use of Client Information
Data Analytics
Marsh may include, on an anonymous basis, information relating to its clients’ insurance programmes in benchmarking, modelling and other analytics. Marsh offers an array of analytics capabilities to clients, insurers and others. For clients, these offerings include benchmarking databases, analytics and modelling tools, surveys and other compilations of information, which are designed to help clients more effectively assess their risks, make more informed decisions and construct insurance programmes and other risk mitigation strategies. Marsh or its affiliates may in some instances receive compensation for its analytics offerings from clients, insurers and others. For more information about Marsh’s analytics capabilities and services, please visit the Analytics page.
MarketConnect
MarketConnect is Marsh’s industry leading proprietary technology suite that allows Marsh to assist insurers in their efforts to improve their performance and create superior solutions for our clients. Within MarketConnect, MarketMatch is a proactive tool that allows insurers to identify business opportunities in advance of renewals, enabling them to be considered for risks for which they historically had not been considered. In MarketConnect, client names and certain other information are provided to insurers when viewing upcoming renewals that meet their stated risk appetite. MarketConnect is part of Marsh’s insurer consulting offering for which Marsh receives compensation from insurers.
The Foreign Account Tax Compliance Act (FATCA)
The Foreign Account Tax Compliance Act (FATCA) is a US regulation with global implications for Marsh and Marsh’s clients.
To support our clients and other parties that make in-scope premium payments to Marsh, we are making the W-8IMY and W-9 forms of many of our companies available to download at this link.
If we revise any form due to a change in circumstances, the revised form will be uploaded within 30 days of the change. You are encouraged to check this site prior to remitting in-scope FATCA payments to us to ensure you have the most current form available.
Please direct questions and requests for forms not included in this site to fatcainformation@mmc.com.
Our Compensation
Marsh is compensated in a variety of ways, including commissions and fees paid by insurance companies and fees paid by clients. Marsh may receive compensation through one or a combination of the methods listed below.
Broking Commissions
A retail commission is paid to Marsh by the insurer as a percentage of the premium charged to the insured for the policy. The amount of commission may vary depending on a number of factors, including the type of insurance product sold and the insurer selected by the client. Retail commission rates can vary from transaction to transaction.
Client Fees
Some clients may agree to pay Marsh a fee for Marsh’s services in lieu of, or in addition to, retail commissions paid by insurance companies. The fee may be collected in whole or in part through the crediting of retail commissions collected by Marsh for the client's placements.
Documentation Charges/Fee
Where commission or a fee is paid to Marsh, we may also charge clients an administrative fee to cover administrative tasks that are performed in the insurance placement process, such as policy; invoicing, premium collection and remittance.
Other Benefits or Compensation
Marsh may, from time to time, participate in insurance company promotional events or employee training and development provided by insurers. Sometimes, Marsh is reimbursed by insurers for its costs related to promotional marketing. Where legally permitted, Marsh earns interest and other income on premium accounts, as paid to us by the financial institutions where insurance premiums are held prior to remittance to insurers.