Marsh IO+: Enhanced Excess Casualty Solution for Product Liability Risks

Organizations like retailers, food and beverage companies, construction firms, and manufacturers that produce and sell a high volume of products are increasingly at risk for losses associated with “batch” claims – multiple bodily injury or property damage claims arising from a single product defect.

Depending on the insured’s excess casualty program structure and applicable law, such claims may be deemed separate occurrences, thus subjecting the insured to multiple retentions or worst case, no umbrella/excess coverage at all.

Marsh IO+© is an enhanced excess casualty solution designed for companies with significant product and other mass tort exposures. This occurrence-reported excess casualty form includes the “integrated occurrence” feature found in standard occurrence-reported forms. The integrated occurrence feature allows companies to batch claims into a single occurrence, potentially saving significant retention costs.

Unlike traditional occurrence-reported forms that were first developed in the mid-1980s, Marsh IO+ also includes features found in today’s more widely-used occurrence forms, including separate aggregate and unaggregated auto liability limits, expanded pollution coverage, acceptance of standard umbrella submissions, and automatic extended reporting coverage.

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Marsh IO+: Enhanced Excess Casualty Solution for Product Liability Risks

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