To plan and implement a successful casualty strategy, you need to take into account the continuously changing environment.
Managing casualty risk is often a complex challenge for businesses. Marsh Advisory’s Casualty Consulting team can work with you to develop a strategy and implement a plan that takes into account both the larger seismic shifts, as well as those specific to your industry, organization, or locality.
Our experienced, knowledgeable specialists can help improve your organization’s workplace health and safety practices, streamline claims and vendor management, and leverage sophisticated analytics tools and solutions to reduce workers’ compensation claims and liability costs. Our combination of brokerage and consulting expertise allows us to provide a casualty risk approach, supported by a talented team to strategize for your short-term concerns and long-term vision.
With the goal of improving both the variable and fixed costs of your risk program, our specialists utilize an end-to-end, comprehensive approach to casualty — pre- and post-loss.
Our approach helps organizations more effectively reduce accidents, mitigate claims severity, and better control costs as they occur. Working with us, you can better manage a wider spectrum of casualty risk and your total cost of risk, with the goal of reducing your financial volatility. Our approach — which leverages our global best practices and resources for quicker outcomes and faster resolutions — is based on five key pillars:
- Prevent accidents: Deploying effective safety management strategies to reduce illness and injuries.
- Optimize structure: Achieving the right balance between risk transfer and retained risk.
- Protect balance sheet: Enhancing limits and coverage.
- Maximize liquidity: Executing creative risk financing and collateral solutions.
- Mitigate claims severity: Implementing innovative cost containment strategies.
Our Casualty Consulting team is comprised of specialists across three distinct, collaborative practices, helping organizations take their casualty risk management to the next level:
- Claim Consulting Practice: Supports organizations in identifying, analyzing, and reducing their exposure in an effort to minimize their total cost of risk. The practice concentrates on highly specialized solutions, which are supported by proprietary technology and executed by claim and risk consulting professionals.
- Complex Liability Consulting Practice: Assists organizations facing complex liabilities that could significantly affect their financial outlook. With deep expertise, market intelligence, and proprietary tools, the team helps organizations obtain insurance recoveries, avoid costly litigation with insurers, and mitigate the negative financial effects of these liabilities.
- Workforce Solutions Practice: Helps companies protect and promote the health and safety of their people. The team collaborates with organizations to identify potential gaps in health and safety strategies, determine actions and solutions that adhere to and go beyond health and safety regulations, protect employees, reduce workers’ compensation costs, and improve overall safety culture.
With our comprehensive approach, specialized expertise, and innovative solutions, you can better meet the labor and financial objectives of your key stakeholders, including the board of directors, the C-suite, regulators, and employees — and potentially lower your total cost of risk. For more information, please contact a Marsh representative.
Casualty Comprehensive
Our expertise
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CCP focuses its claim and program management expertise to assist clients in identifying, analyzing, and reducing their exposure, minimizing cost of risk.