Morgan Stanley Launches Property & Casualty Insurance for High Net Worth Clients
NEW YORK–(BUSINESS WIRE)–Morgan Stanley today announced that it has teamed up with industry-leading insurance brokers HUB International, Marsh Private Client Services, and Willis Towers Watson to offer Property & Casualty (P&C) insurance. P&C insurance will be available for Morgan Stanley’s high net worth clients and their families to mitigate potential risks associated with property loss and general liability, and is an expansion of its current suite of insurance offerings.
Through this new arrangement, HUB International, Marsh Private Client Services, and Willis Towers Watson will assist Morgan Stanley clients in assessing their risk exposures and provide solutions to help them protect their assets. The insurance brokers will leverage their deep relationships with a vast array of insurance companies and their global footprint of dedicated specialists and in-house resources. Services will include:
- Continuous policy reviews to ensure clients remain properly insured and their current policies are most appropriate for their needs;
- Alert clients of situations (e.g. hurricane/wildfire) for which extra precautions should be taken to help protect their assets;
- Support from dedicated service teams; and a
- Streamlined approach for processing insurance claims.
“Our clients place a high priority on asset protection and by working with these industry-leading insurance brokers, Morgan Stanley can address their need for a comprehensive insurance strategy as part of their overall relationship,” said Joseph Toledano, Head of Insured Solutions, Morgan Stanley Wealth Management Investment Solutions.
In addition, through this arrangement, Morgan Stanley clients will now have access to the following personal and commercial insurance lines such as:
- Personal Lines: Inland Marine (i.e. Fine Art, Jewelry), Watercrafts, Umbrella/Excess Liability, Aviation, Flood and Cybersecurity
- Commercial Lines: Inland Marine, General & Professional Liability, Aviation, Crime and Umbrella/Excess Liability
Morgan Stanley’s P&C insurance platform offering complements the suite of traditional insurance solutions that includes life insurance, long-term care insurance and disability insurance currently available through the Firm’s Wealth Management Investment Solutions Insured Solutions business. Insurance products are offered in conjunction with Morgan Stanley’s licensed insurance agency affiliates.
Morgan Stanley Wealth Management, a global leader, provides access to a wide range of products and services to individuals, businesses and institutions, including brokerage and investment advisory services, financial and wealth planning, cash management and lending products and services, annuities and insurance, retirement and trust services.
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing investment banking, securities, investment management and wealth management services. With offices in more than 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.
© 2020 Morgan Stanley Smith Barney LLC. Member SIPC.