Leading the Way in Transparency

As our client, we will always look to treat you fairly and put your interests ahead of our own.

Our Compensation
Principle of Conduct

Principles of Conduct for Insurance Intermediaries

Our clients deserve our finest effort when they engage Marsh to obtain insurance coverage. A key component of this is the placement process — determining appropriate insurers for the types of risk involved and negotiating with those insurers on behalf of our clients to obtain optimal coverage at a competitive price.

Marsh is fully committed to the principle of transparency in our insurance transactions. As an insurance broker, Marsh’s role is to place insurance coverage for our clients. We are 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.

Our Compensation

Retail 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.

Insurer Consulting Compensation: Marsh receives compensation from insurers for providing consulting, data analytics or other services. The services are designed to improve the product offerings available to our clients, assist insurers in identifying new opportunities, and enhance insurers’ operational efficiency. The scope and nature of the services vary by insurer and by geography. In the US, Canada and Bermuda, this compensation can be paid in the form of a fixed fee, a percentage of premium, or a combination of both. Outside of those countries, Marsh is compensated for these services through fees.

Contingent Commissions: Some insurers agree to pay Marsh contingent commissions when we meet set thresholds for insurance policies placed with them during a given year or other time period. The set thresholds may include volume, profitability, retention and/or growth metrics. The amount of contingent commission earned may vary depending on factors relating to an entire book of business over the course of the year or period. As a result, the amount of contingent commission attributable to any given insurance policy typically will not be known at the time of placement.

Compensation for Insurer Administration and Other Services: Marsh operates certain panels, facilities, quota shares, line slips and other placement arrangements with insurers. Marsh receives separate compensation relating to the creation, management, and operation of these arrangements that is in addition to any other fee or commission earned by Marsh.

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.

Our Contractual Arrangements with Insurers

Marsh has agreements with certain insurers pursuant to which Marsh provides services to them and for which Marsh is compensated to the extent permitted by law and regulation in each country in which Marsh operates. Examples include captive management services, claims administration services, claims management software and associated services, mergers and acquisitions due diligence services, insurer consulting services, managing general agent and managing general underwriter services and insurance brokerage services regarding insurers’ own insurance programs. Marsh is also party to agreements with insurers that facilitate insurance transactions, including agency agreements, agreements to administer facilities, and agreements to operate internet-based insurance placing facilities.

Marsh also routinely enters into various types of agreements with insurers that are ancillary to the insurance broking process, or other services performed on behalf of clients. Examples include confidentiality and nondisclosure agreements for the release of data relating to insurance placements, claims handling and loss control programs, nondisclosure and/or noncompetition agreements relating to the development and disclosure of new insurance products and services, and licensing agreements governing access to and use of data management systems and databases.

For more information on Marsh’s compensation or Marsh’s contractual arrangements with insurers, please contact your client executive or account representative.

Marsh has established a toll-free "Ethics & Compliance" line at 800-381-2105. Please use this number to submit any concerns or complaints you may have related to compensation paid or payable to Marsh by insurers or any other third parties.

Disclosure

Available here is information for clients and prospective clients regarding (1) equity interests of Marsh & McLennan Companies, Inc. and its subsidiaries in insurers, (2) contractual arrangements between Marsh & McLennan Companies, Inc. and its subsidiaries, (3) Victor Insurance Managers Inc. (“VICTOR”), and (4) Premium Finance - Marsh Income Disclosure Statement.

Use of Client Information

Data Analytics. Marsh may include, on a de-identified basis, information relating to its clients’ insurance programs in benchmarking, modeling and other analytics. Marsh offers an array of analytics capabilities to clients, insurers and others. For clients, these offerings include benchmarking databases, analytics and modeling 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 programs 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, review information within Services — Analytics.

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, Market Match 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 MarketMatch, 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.

Marsh Canada Limited — Accessibility Policies and Multi-Year Accessibility Plan

The Integrated Accessibility Standards Regulations (“IASR”) under the Accessibility for Ontarians with Disabilities Act, 2005 (the “AODA”) require that effective January 1, 2014, Marsh Canada Limited (“Marsh”) establish, implement, maintain and document its accessibility policies and multi-year accessibility plan (the “Accessibility Plan”), which outlines Marsh’s strategy to prevent and remove barriers for persons with disabilities and to meet its requirements under the IASR.

The Accessibility Plan will be available in an accessible format upon request. The Accessibility Plan will be reviewed and updated, if applicable, at least once every five years.