Marsh sets up PCC operations in UK and US

Amy Tiernan

MARSH has established protected cell captive (PCC) insurance facilities in Washington, DC and the Isle of Man (pictured) to provide alternative commercial insurance for small and medium-sized businesses. The facilities are already accepting business and will provide cost-effective risk-financing alternatives. In addition, they will provide larger companies with a way to segregate retained risks associated with joint ventures, strategic alliances and other special situations. Individual businesses and other entities which participate in the PCC are insulated from the loss experience, liabilities and credit risks or other participants and, consequently, avoid potential costs, such as additional premium requirements or capital outlays that could arise in group captive arrangements. Michael Cormier, a managing director of Marsh and global leader of the captive solutions practice, said: “A growing number of our clients are seeking alternatives to the traditional insurance market, both to avoid the challenges associated with market cycles and to be in a better position to control their own destiny.”