Willis Towers Watson launches Real Estate Differentiated Broking Solutions

Rhea-AI Summary

Willis Towers Watson (NASDAQ: WLTW) launched its Real Estate Differentiated Broking Solutions (RE DBS) to bolster its existing offerings in the insurance market. This initiative aims to assist clients from various sectors, including real estate and hospitality, by providing comprehensive coverage in property & casualty insurance. Aimed at addressing the complex risks faced by real estate clients, the solution will collaborate with key insurance partners such as Allianz and Travelers, ensuring tailored, effective risk management strategies.

Positive

• Launch of Real Estate Differentiated Broking Solutions (RE DBS) enhances service offerings.
• Partnership with major carriers (Allianz, AmTrust, Travelers) to improve client coverage access.
• Focus on tailored risk management strategies for complex real estate risks.

Negative

• None.

ARLINGTON, Va., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking and solutions company, today announced the launch of its Real Estate Differentiated Broking Solutions (RE DBS). This solution further expands the existing DBS programs, including General Industry DBS and Financial Institutions DBS.

The RE DBS will serve clients in several industries, including real estate holding and other investment offices, hotels, rooming houses, camps and other lodging places, golf courses and shopping malls. Coverage will be available for the property & casualty sector and includes property, general liability, business auto, workers compensation and umbrella insurance.

“The uncertain and rapidly changing insurance market combined with increasing exposure to risks faced by our clients require an insurance risk transfer strategy to effectively navigate these perilous times,” said Joe Peiser, global head of Broking, Willis Towers Watson. “This new program will create a path to minimize real estate clients’ exposure to losses while aligning with an insurance company’s risk appetite. This 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.”

“Risks facing our real estate clients are highly complex, and this new DBS offers innovative solutions for our clients in this industry,” said Jim O’Connor, head of Middle Market and Specialty Broking. “We are pleased to partner with the key carriers Allianz, AmTrust, CNA, Crum & Forster, Hartford, QBE, Sompo, Travelers and Zurich to ensure we can continue to help our clients access the best coverage and services the market has to offer.”

“The real estate industry has a diverse composition, and the DBS markets will provide holistic coverage for all of our clients,” said Krista Cinotti, Eastern U.S. Middle Market Broking leader. “The Real Estate DBS provides an advantage to our clients who value insurance partners that understand their business and provide solutions that are customized, cost effective, innovative and efficient.”

Differentiated Broking Solutions will continue to build customized solutions for industries requiring specialization, including technology/media/telecommunications, construction, health care, not for profit/public sector, education, transportation, energy/utilities and agriculture.

About Willis Towers Watson

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential. Learn more at willistowerswatson.com.

MEDIA CONTACT

Sarah Booker: +44 (0) 7917722040
sarah.booker@willistowerswatson.com

FAQ

What is the new service launched by Willis Towers Watson on October 14, 2020?

Willis Towers Watson launched the Real Estate Differentiated Broking Solutions (RE DBS) to enhance its insurance offerings.

Which industries will benefit from the Real Estate Differentiated Broking Solutions?

The RE DBS will serve clients in real estate, hospitality, and various sectors requiring property & casualty insurance.

Who are the key insurance partners for the new Real Estate Differentiated Broking Solutions?

Key carriers include Allianz, AmTrust, CNA, Crum & Forster, Hartford, QBE, Sompo, Travelers, and Zurich.

What is the purpose of the Real Estate Differentiated Broking Solutions?

The RE DBS aims to minimize risks and provide customized insurance solutions for real estate clients.

How does the Real Estate Differentiated Broking Solutions align with market needs?

The RE DBS addresses the complex and evolving risks in the insurance market, providing an effective risk transfer strategy.