Risk in Context Podcast: Managing catastrophe risk via insurance

To manage the risks presented by natural catastrophes, it’s vital that risk professionals understand their insurance options.

This episode of Marsh’s Risk in Context podcast features Marsh’s Mike Rouse and Chad Wright on property, business interruption, and parametric insurance solutions available to businesses.

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Key Takeaways:

While property policies require that losses be reported, assessed, and adjusted in an often lengthy process, parametric policies can offer a more straightforward and potentially quicker claims process.
Parametric solutions, however, have some limitations, and are often used as a complement to conventional property and business interruption policies.
To choose the right approach, risk professionals should understand their organizations’ risk tolerance and work with advisors that understand the benefits and drawbacks of each option and that can structure policies to effectively address their risk.

About our Speakers

Michael Rouse is the leader of Marsh’s US Property Practice, which includes more than 200 brokers and serves approximately 3,000 clients. In addition to his management responsibilities, Michael is directly involvement in the development, design, and placement of domestic and global insurance programs for several Fortune 1000 companies and public entity clients.

Chad Wright is leader of Marsh’s Alternative Risk Transfer Group for the US and Canada. He has more than 20 years of experience as a risk manager and broker and has helped several large companies effectively identify, quantify, mitigate, and transfer risk. His specialties include risk finance, alternative risk transfer, and advanced analytics and stochastic modeling.