Willis Towers Watson unveils new solution for financial institutions

Re/insurance broker Willis Towers Watson has unveiled a new solution for financial institutions as part of its Differentiated Broking Solutions (DBS) programme that was  launched in 2019 with general industry mid-market clients.

The financial institutions DBS will offer tailored insurance solutions across various industries including commercial banks, investment banks, hedge funds and asset managers; depository institutions; insurance carriers, agents, brokers and services; security and commodity brokers, dealers, exchanges and services; and non-depository credit institutions.

It will provide coverage for the core property and casualty (P&C) insurance lines of business - property, general liability, business auto, workers compensation and umbrella.

“We are excited to grow DBS to offer more solutions for our clients in the financial sector,” said Jim O’Connor, head of middle market and specialty broking, Willis Towers Watson. “We are pleased to partner with the key carriers that have been selected following a thorough vetting process: Chubb, CNA, Hartford, Sompo, Travelers and Zurich. It’s innovative solutions like DBS that will help our clients access the best coverage and services the market has to offer.”

Joe Peiser, global head of broking, Willis Towers Watson, added: “The need for such an alignment makes it critical to find a partner with proven risk management capabilities, a fresh approach to guaranteed cost insurance placements and an unyielding focus on each client’s needs.”

Carmela Inneo, North America, financial institution industry leader, said: “Our financial institution clients are highly regulated and complex. FI DBS provides an advantage to clients who value insurance partners that understand their business, by providing solutions that are immediately customized, cost effective, innovative and efficient.”