Magazine article Risk Management

Editor's Prerogative

Magazine article Risk Management

Editor's Prerogative

Article excerpt

WE RECEIVED A NUMBER OF CONgratulatory phone calls at Risk Management when, within a week or so of our August issue (with its cover story exploring how consolidation is reshaping the insurance brokerage sector), word arrived that Marsh & McLennan had been doing a bit of shopping in London. But instead of going to Oxford Street or Knightsbridge, Marsh executives had gone to Sedgwick's headquarters to purchase the 119-year-old firm.

Although you probably didn't need a connection at the Psychic Hotline to predict that some additional consolidation was going to occur (rumors involving a Sedgwick transaction had become almost more common than the new Volkswagen), the Marsh-Sedgwick transaction immediately kicked off a round of new questions. How would Aon react? What about Willis Corroon? Who was next? And the still-unsettled issue, What does all of this mean for risk managers? Between the time we wrapped up this issue in late August and it arrived on your desk in early October, some of these questions may have been answered or, more likely, others will have come up. Whatever happens, one of the few things you can say for certain is that whatever the insurance brokerage industry looks like in the next few years is probably going to have only a faint resemblance to how it appears today. …

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