Marsh has announced its new model for conducting business in the UK, with transparency a key feature
Each client will know exactly what Marsh is earning on their account, and exactly what work Marsh has carried out in respect of those earnings.
Following the US Spitzer debate, Marsh decided in October 2004 not to accept contingent commissions from insurers. However, Marsh says that insurers should recognise the value that they continue to receive by giving clients premium discounts of between 1% and 2%, and is discussing possible mechanisms with a number of insurers. It is also discussing making a charge of 0.75% of relevant premium for continuing to provide some clearly defined services to certain specialist insurance markets, including Lloyd's.
