Marsh launches Fast Track facility

Marsh launches Fast Track facility

24 April 2023

Global broker Marsh has announced the launch of Fast Track, an insurance facility aimed at bringing “a substantial amount of additional ‘follow form’ capacity” to its clients across major lines of business.

Marsh says Fast Track will be backed by a panel of A-rated global insurers based at Lloyd’s, led by QBE.

Under terms of the facility, insurers will provide up to 10% of the capacity for policies written on a subscription basis and follow all terms set by the lead underwriter.

Marsh’s clients globally will have the option to access the facility across all major classes of business, with the exception of motor, and there is no need for a London order.

Marsh says the launch of Fast Track comes at a challenging time for clients, with its Global Insurance Market Index recording its 21st consecutive quarter of rising insurance prices.

“At a time of constrained insurance capacity in many industries and geographies, the facility will give clients the option to access dedicated, pre-arranged capacity which is exclusive to Marsh clients across their full spectrum of risks,” President Marsh Specialty and Global Placement Lucy Clarke said.

UK Head of Placement for Marsh Simon Delchar says market conditions remained difficult at the April 1 renewals, with some clients experiencing pricing increases and capacity shortages.

“With difficult trading conditions expected to continue, we have developed the Fast Track facility to produce better outcomes for our clients.”