As our client, we will always look to treat you fairly and put your interests ahead of our own.
Mercer Marsh Benefits (“MMB”) provides clients with a single source for managing the costs, people risks, and complexities of employee benefits. It is a collaboration between Mercer and Marsh companies, global leaders for innovative and reliable health and benefits advice strategic solutions, and brokerage services.
We take pride in our transparency and disclosure approach, and we make the following commitments when working for our clients:
Our commitments are applied throughout MMB globally, although how we are compensated and the nature of our disclosure may differ according to the services we provide and in accordance with local law and practices.
This Global Transparency and Disclosure Statement summarises the types of compensation received across MMB globally. There may be countries that either do not receive certain of the compensation types noted below due to local practices or restrictions under local law and regulation. Accordingly, please consult your local MMB consultant for information related to a specific entity.
Broadly, MMB offers a wide range of services to its clients, with a variety of compensation arrangements with clients and insurers, including one or a combination of:
1. Fee arrangements
Some clients may agree to pay a fee to MMB for the services it provides in lieu of, or in addition to, any commissions MMB receives from insurance companies. Fee amounts will be agreed with clients and included in the contract for services entered into between MMB and client at the outset of the engagement.
2. Brokerage Commissions
Retail commissions are paid to MMB by insurers as a percentage of the premium charged to the client for its insurance policy. The amount of commission may vary depending on a number of factors, including the type of insurance product sold, the related consultancy services and the insurer selected by the client, and commission rates may vary from transaction to transaction and change from time to time.
Additional information about MMB’s insurer commission arrangements are available to MMB clients on request to MMB.
3. Insurer services revenue
MMB receives compensation from insurers for specific portfolio-related services delivered by MMB (or MMB’s representatives), in some cases by dedicated teams. These insurer relationships are documented in formal service agreements. Depending on the services, MMB may receive fee-based compensation or compensation that is set as a percentage of premium.
MMB earns three types of compensation associated with the different forms of services provided to insurers as follows:
4. Other forms of compensation
MMB may also receive other forms of compensation including the following:
5. Requesting details of how we are paid
Clients of MMB may obtain further details of how we are paid by making a request to their usual MMB contact.
How we are compensated and the level of information we can disclose may change according to the services we provide and in accordance with local law and practices.
6. Related Party Transactions
Our subsidiaries or affiliates of MMB may own shares in and have contracts with certain insurers and reinsurers. They may also own or have interests in other insurance-related businesses that may provide services associated with a client's account.
If you have any questions about MMB’s transparency and disclosure commitments, or would like information on the compensation we receive, please do not hesitate to contact your MMB client contact.
Mercer believes in building brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s approximately 25,000 employees are based in 43 countries and the firm operates in 130 countries. Mercer is a business of Marsh McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with 86,000 colleagues and annual revenue of over $20 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit mercer.com. Follow Mercer on LinkedIn and Twitter.