Harsh Dutia on LinkedIn: Marsh Global Connect (2024)

We are #hiring! The Marsh PEMA Portfolio Platform offers unparalleled value to our PE Sponsor clients and their portfolio companies. We are seeking a Portfolio Manager to join our team. Learn more here: https://lnkd.in/g48nxpyR or DM me.

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The global drive to accelerate the energy transition is at an all-time high, necessitating substantial capital and a skilled workforce. Offshore wind #energy is a proven, scalable technology, and it's time for risk management and insurance professionals to innovate and support its growth. #windenergy #renewableshttps://lnkd.in/dDDbjfCz

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Global insurance markets: Global rate flat for first time in 27 quartersGlobal commercial insurance rates were flat in the second quarter of 2024, the first time in nearly seven years — since the third quarter of 2017 — that the composite rate did not show an increase, according to theMarsh Global Insurance Market Index. The composite rate declined or moderated in every region but one — India, Middle East, and Africa (IMEA).Global product line trends, Q2 2024:- Property insurance rates globally were flat, declining, or moderating in every region except IMEA. Property insurers and insureds alike are watching the Atlantic hurricane season, which is predicted to generate an above average number of named storms.- Casualty lines rates increased 3% globally; Canada and Asia showed declines while the UK and IMEA were flat. Insurers remained concerned with large jury awards in US courts.- Financial and professional lines rates decreased 5% globally, declining in every region. In the US, UK, Canada, and Europe, the pace of decreases slowed compared to the prior quarter, while accelerating elsewhere.- Cyber insurance rates declined 6%, with declines seen in every region. Insurers continued to focus on cybersecurity controls, typically looking for year-over-year improvements.#gimi #insurance #globalinsurancemarketindex #marsh

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This weekend's IT systems outage incident due to a Crowdstrike update gone wrong sheds light on crucial lessons in supply chain risk management within the tech industry. Key takeaways and potential risk management solutions include:- Diversification of IT vendors and systems is essential, especially for critical business processes, to mitigate reliance on a single vendor.- The incident underscores the complexities of tech systems, particularly in managing unattended machines in remote locations and the time-consuming process of applying fixes, which hinders speedy recoveries.- Does your organization consider these factors in its Business Continuity Planning?Moreover, organizations should evaluate their tech help desk's responsiveness and available resources to swiftly address such situations. Having an IT war room and mobilizing all resources for a rapid recovery are crucial strategies to navigate similar challenges effectively.Feel free to share your insights in the comments section. #crowdstrike #riskmanagment #technology

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OUT NOW: The Global transactional risk insurance claims report 2024 leverages Marsh’s comprehensive transactional risk claims data to explore the evolving claims landscape, macroeconomic and M&A impacts, and the correlation between claims outcomes and transactional risk insurance placement. Insurers have paid Marsh clients over US$1 billion under transactional risk policies since 2018, with US$300 million in 2023 alone. Key findings include an increase in both frequency and severity of R&W claims globally, a historic peak in claim notifications in 2023, and top breach types being tax, financial statements, and compliance. Dive into the detailed insights and trends: https://lnkd.in/dBr4UGAH#transactionalrisk #mergersandacquisitions #claims

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Join us on June 26 at 11:00 AM EST for our LinkedIn Live where our panel will discuss insights from the 2024 Global Transactional Risk Insurance Claims Report. https://bit.ly/45hwNqwSteven Hong, Raquel Perez Galvan, Pin Li Lim and Marnix Terpstra will explore valuable insights into the trends and developments in transactional risk insurance claims. They will delve into various aspects of the report, including claim notifications, breach types, claims timing, time to resolution, claim payments, and loss severity. #transactionalrisk #insurance

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With data and insights from 4,575 HR and Risk professionals our People Risk 2024 report outlines key workforce threats facing employers worldwide, the impact they can have on your client’s organization, and practical approaches to address critical risks today and in the future. ThePeople Riskreport is your guide for a proactive, predictive, and disciplined approach to people risk management. It outlines key workforce threats facing employers worldwide organized under five pillars of risk, the impact they can have on your organization, and practical approaches to addressing critical risks today and tomorrow.Use this report to identify, prioritize, and manage the most critical people risks across your organization:Discover the most significant people risksfacing businesses globallyLearn strategies to proactively manageyour people riskUnderstand how to identify and overcome barriersto mitigate people riskDetermine innovative and collaborative actionsyou can take to effectively manage risks and plan aheadhttps://lnkd.in/dETd5k_Q#PeopleRisk #HR #mercer

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Thought-provoking conversation with Dr. Bev Adams about the changing dynamics of sustainability, climate, and ESG risks in the world of PE. It's inspiring to witness how Private Capital sponsors and their portfolio companies are embracing these challenges, evolving their strategies, and enhancing their reporting practices.#ESG #Sustainability #PE #MarshPEMA #PrivateCapitalAlex Ackermann, Katherine Gensheimer Friedman

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Excited to share that Kalpana Morparia has been honored with the #padmashri award by the Government of India, filling our hearts with pride and joy.Padma Shri, India’s fourth highest civilian award, recognizes distinguished contributions across various fields, including industry, social service, and public affairs.Kalpana’s decades-long dedication to the Indian industry, notably at ICICI Bank and JP Morgan, alongside her global representation of Indian banking, earned her this prestigious accolade. Her leadership, integrity, and gravitas have been truly inspiring.Having had the privilege to know her closely, here are some invaluable lessons I’ve learned:1.Work hard and smart: Kalpana’s relentless dedication, even in her early seventies, as a board member of four major global corporations, exemplifies this ethos.2.Embrace challenges and continuous growth: From her pioneering roles at ICICI Bank to her leadership at JP Morgan, and now serving on multiple global boards, Kalpana’s journey underscores the importance of seeking new challenges and opportunities for growth.3.Integrity and sincerity: Kalpana’s unwavering integrity has not only earned her the Padma Shri but also the respect of business and government leaders worldwide, solidifying her as a prominent figure in Indian banking and industry.Grateful for her mentorship and wisdom, Kalpana Morparia continues to make us proud, both as individuals and as a nation.#peoplespadma #padmaawards2024

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This week's tragic accident of the vessel Dali slamming into the Francis Scott Key's Bridge in Baltimore, MD offers a key lesson: globalization is still thriving. The vessel, built by a South Korean company, flying the Singapore flag, chartered by a Danish company, operated by an India-based crew, and insured by UK-based insurers, hit a bridge in the United States en route to Colombo, Sri Lanka. This classic example of the interconnected world we live in highlights the need to avoid creating tariffs and immigration barriers in the name of nationalization. Let's remember this as we navigate the complexities of our global economy. Picture courtesy: REUTERS/Julia Nikhinson TPX IMAGES OF THE DAY #globalization #economy #interconnectedworld #multinational

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