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Marsh introduces new insurance programme for real estate firms

IBR Staff Writer Published 20 January 2009

The new insurance programme is named as Portfolio Real Estate Innovations Zurich Marsh

Marsh, a US-based insurance broker and risk adviser, has created Portfolio Real Estate Innovations Zurich Marsh, a new insurance programme is claimed to help commercial real estate firms achieve cost savings and administrative efficiencies through portfolio purchasing power.

Marsh said that the new Portfolio Real Estate Innovations Zurich Marsh programme, offers a single solution that can provide coverage for a range of property, casualty, environmental, and management liability. Member companies of Zurich North America Commercial are underwriting the programme.

The new Marsh programme provides a packaged product offering, including property insurance, including standard perils, green building exposures and builder's risk, as well as catastrophe coverage for windstorm, flood, earthquake, and terrorism; casualty lines, including general liability, auto, statutory workers' compensation, umbrella liability, and environmental and; management liability, including directors and officers liability, employment practices liability insurance, errors and omissions and fiduciary liability coverage.

Jeffrey Alpaugh, a managing director of Marsh and leader of the firm's global real estate practice, said: Many real estate firms throughout the U.S. are looking for innovative approaches to simplify their insurance programmes in ways that can enable them to achieve cost savings and streamline administration. This programme gives mid-sized real estate companies the advantage of a one-stop solution for the wide range of insurance coverages typically needed to protect real estate firms against the array of risks confronting them.