Beazley is now a part of Marsh's ESG Risk Rating team
Marsh & McLennan Cos. Inc.
Marsh announced that specialist insurer Beazley will offer clients who opt in to Marsh's ESG Risk Rating (ERR) global access to additional capacity through its Lloyd's of London Syndicate 4321, subject to Beazley's threshold.
Marsh, the world's leading insurance broker and risk advisor, announced today that Beazley, a specialist insurer, will provide clients who opt in to Marsh's Environmental, Social, and Governance (ESG) Risk Rating (ERR), with global access to additional capacity through its Lloyd's of London Syndicate 4321, subject to the ERR score meeting Beazley's threshold.
Marsh's ESG Risk Rating, which was launched in March, is an assessment tool that can measure an organization's ESG performance, allowing it to improve its ESG risks and gain access to additional insurance market capacity.
Syndicate 4321 began accepting D&O, healthcare, financial institutions, London market US cyber, property, marine hull, marine cargo, and aviation business in January 2022. Syndicate 4321 invests all premiums responsibly in accordance with Beazley's Responsible Investment Strategy.
"The ESG Risk Rating enables clients to take control of their ESG narrative and differentiate their organizations with insurers,"
said Amy Barnes, Marsh's Head of Climate and Sustainability Strategy.
"The option of additional capacity from Beazley's Syndicate 4321 is a significant milestone in the development of the ESG Risk Rating, as we assist clients in achieving their ESG objectives."
"Beazley's ESG syndicate 4321 helps clients improve their ESG credentials and embed greater understanding of the risk profile of high scoring ESG businesses into our own underwriting,"
said Will Roscoe, Head of Portfolio Underwriting at Beazley.
"I am delighted that by implementing Marsh's ESG Risk Rating tool, clients who meet the criteria will gain access to additional capacity from syndicate 4321."
Marsh is the world's largest insurance brokerage and risk management firm. Marsh, which employs approximately 45,000 people in 130 countries, provides data-driven risk solutions and advisory services to commercial and individual clients. Marsh is a division of Marsh McLennan Companies (NYSE: MMC), the world's leading professional services firm in risk, strategy, and people. Marsh McLennan, with nearly $20 billion in annual revenue, assists clients in navigating an increasingly dynamic and complex environment through four market-leading businesses: Marsh, Guy Carpenter, Mercer, and Oliver Wyman. Visit marsh.com, follow us on LinkedIn and Twitter, or subscribe to BRINK for more information.
Source: Marsh news