As mid-sized commercial real estate firms work to navigate the challenges of the economic recession, Marsh announced the creation of a comprehensive insurance program that may help these firms achieve cost savings and administrative efficiencies through portfolio purchasing power.The Marsh program, known as PRIZM (Portfolio Real Estate Innovations Zurich Marsh), offers a single solution that can provide coverage for a wide range of property, casualty, environmental, and management liability exposures facing these firms today. Member companies of Zurich North America Commercial are underwriting the program.
The new Marsh program provides a comprehensive 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;
- Management liability, including directors and officers liability (D&O), employment practices liability insurance, errors and omissions, and fiduciary liability coverage.
All coverage lines are available with separate limits so claims in one line do not erode coverage in others. In addition, the consolidation of coverages in the program can help to reduce the potential for gaps in coverage. PRIZM may be available for all segments of the commercial real estate industry, including office, industrial, retail, hotel, and apartment properties.
Additional information is available by contacting Jeffrey Alpaugh at 617-385-0476 or e-mail: Jeffrey.S.Alpaugh@marsh.com.
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