Willis Towers Watson, a UK-based advisory, broking and solutions firm, has introduced a new solution for general industry mid-market clients.
The new solution forms part of the firm’s Differentiated Broking Solutions (DBS) business strategy, under which the company will provide custom insurance solutions across industries.
At the outset, the roll out for general industry will cover manufacturing, retail, service industries and distribution.
The general industry DBS offers coverage for the core property and casualty lines of business such as property, general liability, business auto, workers compensation and umbrella. It also provides coverage for excess liability, environmental and international lines of business.
DBS includes pre-agreed terms and conditions along with service standards to create an elevated floor of coverage across all lines of business.
Pricing and additional coverage improvements for individual risks are negotiated locally.
Willis Towers Watson North America head of broking Joe Peiser said: “Our clients need a strong insurance strategy tailored to their specific industry needs to effectively manage risk.
“Today’s volatile business environment makes it critical to select an insurance company partner with proven risk management capabilities, a fresh approach to guaranteed cost insurance placements and an unyielding focus on client needs.”
Willis Towers Watson head of middle market and specialty broking Jim O’Connor stated: “We are pleased to partner with key carriers Allianz, Chubb, CNA, Hartford, Liberty Mutual, QBE, Travelers and Zurich on our General Industry DBS core lines.
“Building innovative solutions like these while not disrupting vital local client, broker and underwriting relationships help our clients access the best coverage and services the market has to offer.”
Willis Towers Watson said that its DBS will continue to build industry-specific solutions for construction, real estate/hospitality, healthcare, education, financial institutions, transportation and energy/utilities.