Marsh launches contamination insurance product for water utilities

Unique product designed to protect against the cost of a serious contamination incident

As utilities companies move to strengthen their resilience to risks as a result of tightening regulation and the heightened threat of terrorism, Marsh Inc. has launched a specialist contamination insurance product for water utility firms globally.

Available exclusively through Marsh, the product is the first of its kind to offer coverage for drinking water contamination, including losses associated with a terrorist attack, extortion costs and goodwill payments to customers.

The water utilities contamination insurance product can provide cover of up to £10 million for accidental contamination, malicious contamination or extortion relating to the water supply. This includes payments to domestic and business customers affected by the contamination and those suffering from injury or illness caused by consuming the contaminated water.

Commenting on the launch of the new product, Mr. Sanjay Kedia, Country Head & CEO of Marsh India, said: “Water contamination incidents can have serious regulatory, financial and reputational implications for a water utility. The costs associated with clean-up, providing bottled water, customer communications and subsequent compensation can be substantial.”

“Traditional property and liability policies often provide limited protection against serious contamination incidents. There is a great deal of interest already in this product from water utilities in the UK, USA, Australia and the Far East.”

“Marsh India plans to work with insurers to  structure and launch the product,  in line with  Indian market and regulatory requirements” he said.

For more information about Marsh’s Water Utilities Contamination Product, please visit: http://global.marsh.com/industry/power/

About Marsh
Marsh has over 24,000 employees and provides advice and transactional capabilities to clients in over 100 countries. Marsh is a unit of Marsh & McLennan Companies (MMC), a global professional services firm with over 50,000 employees worldwide and annual revenue of $10 billion. MMC also is the parent company of Guy Carpenter, the risk and reinsurance specialist; Mercer, the provider of HR and related financial advice and services; and Oliver Wyman, the management consultancy. Its stock (ticker symbol: MMC) is listed on the New York, Chicago and London stock exchanges. MMC’s website address is www.mmc.com. Marsh’s Web site is www.marsh.com.

Marsh India is an operating company of Marsh Inc. with 7 offices and 175 colleagues.  Marsh India was the first foreign broker and risk advisor to receive a license in India as a composite broker and offers a deep understanding of the Indian insurance market and regulatory requirements. We offer a comprehensive range of insurance/ reinsurance and risk management services. Marsh India website is www.marsh.co.in

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