Marsh Enhances Fast Track Facility with 10% Automatic Capacity Increase Across All Portfolios
Marsh, a leading name in the insurance brokerage and risk advisory sector, has recently announced a significant expansion of its Fast Track facility. This expansion, set to take effect from 1 March 2025, is designed to enhance client access to automatic capacity across their property and casualty portfolios, which includes specialty risks.
What is Marsh’s Fast Track Facility?
Launched in April 2023, the Fast Track facility is an innovative solution aimed at streamlining global insurance placements. With this expansion, clients can now benefit from:
- Up to 10% automatic capacity across their entire insurance portfolios.
- Access to the facility directly through any Marsh office worldwide.
- The only major broker facility that does not require London placement.
Fast Track’s Impact on the Insurance Market
Since its inception, the Fast Track facility has facilitated over 15,000 policies globally, with bound premiums projected to exceed $1 billion by 2025. This growth signifies a transformative development in the insurance market, enabling businesses to navigate evolving risks with greater efficiency and flexibility.
Key Features of the Fast Track Facility
The Fast Track facility is led by QBE and supported by notable Lloyd’s syndicates, including Canopius, Arch, and Beazley. Some of its standout features include:
- A unique ‘follow form’ structure ensuring all client placements follow the same terms and conditions as the lead underwriter.
- An automatic 2.5% premium discount for clients.
Reactions to the Expansion
John Donnelly, Marsh’s global head of placement, commented on the expansion, stating that it represents a significant milestone in the Fast Track facility’s evolution. He emphasized that this enhancement allows clients to secure more optimal placement outcomes and confidently navigate the dynamic insurance landscape.
For more information on Marsh and its offerings, visit the official Marsh website.
