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BRIEFLY

A syndicate would provide liability coverage.

March 12, 1986

Marsh & McLennan Cos. and Johnson & Higgins, two of the nation's largest insurance brokerage firms, are trying to persuade property-casualty insurers to form an underwriting syndicate to provide major corporations with $75 million of hard-to-find coverage each. Until 1984, some major companies bought as much as $900 million of liability coverage, but currently it is hard for a company to buy even $100 million--and impossible if they are in high-risk industries such as chemicals and pharmaceuticals. The syndicate would offer coverrage for claims above $25 million and up to $100 million, with each participating insurer responsible for a specified percentage of claims in exchange for a share of the premiums.

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