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MARSH ESTABLISHES TAINTED DRYWALL RESPONSE TEAM

End-to-End Solutions Help Organizations Assess
And Manage Exposures Through Remediation


New York, June 15, 2009 — Marsh, the world's leading insurance broker and risk advisor, has established a team of insurance brokerage and risk consulting professionals to help construction firms, other organizations, and individuals affected by the crisis surrounding the use of tainted drywall.


As the U.S. Consumer Products Safety Commission continues to investigate allegations that drywall imported from various manufacturers operating in China may have been contaminated with hazardous compounds, and as the number of lawsuits against construction companies, builders, and other firms using these materials continues to mount, Marsh is working with clients in all segments of the construction industry and other businesses affected by this issue to help them assess their potential exposures, applicable insurance coverage, and possible remediation measures.


"With problems associated with tainted drywall continuing to spread to commercial and residential properties in various parts of the country, we recognize the need for a comprehensive approach to help clients address the numerous challenges this may present for them," said Michael Feigin, a managing director of Marsh and leader of the firm's Global Construction Practice. "We provide a full range of resources to help firms understand and manage their risk, and to serve as their claims advocate."

The Marsh Tainted Drywall Response Team draws on the firm's expertise in several disciplines to offer clients end-to-end solutions. Marsh's team includes:

  • Construction risk consultants, who can help clients determine the scope of the problem, provide advice on the cost and efficacy of various remediation options, and manage all aspects of the remediation work to completion.
  • Insurance specialists, who help analyze applicable insurance and warranty agreements.
  • Forensic accountants and claims specialists, who assist with claims management.
  • Product risk professionals, who consult on regulatory compliance, product recall and replacement.
  • Crisis management professionals to help with crisis containment and reputational risk.
  • Supply chain experts to assist with supplier evaluation and supply chain risk management.

"Our multidisciplinary approach to the numerous issues associated with tainted drywall is designed to help affected businesses reduce timelines for resolving potential challenges, maximize insurance recovery, identify and realize claims efficiencies, and preserve reputations," said Katherine Ann Cahill, a managing director of Marsh and leader of the firm's Global Product Risk Practice.

Marsh has 23,000 employees and provides advice and transactional capabilities to clients in over 100 countries. Marsh is a unit of Marsh & McLennan Companies (MMC), a global professional services firm with more than 54,000 employees and annual revenue exceeding $11 billion. MMC also is the parent company of Guy Carpenter, the risk and reinsurance specialist; Kroll, the risk consulting firm; Mercer, the provider of HR and related financial advice and services; and Oliver Wyman, the management consultancy. MMC's stock (ticker symbol: MMC) is listed on the New York, Chicago and London stock exchanges. MMC's Web Site is www.mmc.com.

Media Contacts
Al Modugno
212-345-2448

 

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Article: Drywall Manufactured in China — Risks, Issues, and Solutions

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