Marsh has been assigned a new function by the Australian Commonwealth Department of Defense, representing the department’s new overall approach to insurance and forming a significant foundation for its sustained investment in South Australia.
The global insurance broking and risk management firm has been appointed exclusive insurance broker and advisor of the newly established Maritime Integrated Risk and Insurance Services (MIRIS).
In collaboration between Marsh in Australia and in London, the firm has won the Maritime Insurable Risk Program for the Australian Commonwealth continuous shipbuilding program and the maintenance and repair program for the Government-owned, operated, and chartered vessels.
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The appointment entails that Marsh work with MIRIS to oversee and consolidate insurance for all of the department’s maritime acquisition and sustainment programs, encompassing over $50 billion in asset values.
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