| Marsh, First American Spatial Solutions Sign Agreement to Make Flood Exposure Assessments Available to U.S. Businesses |
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NEW YORK and SANTA ANA, Calif., July 29, 2009 – Marsh, the world’s leading insurance broker and risk advisor, and First American Spatial Solutions, a member of The First American Corporation (NYSE: FAF) family of companies and a leader in spatial and natural hazard risk solutions, announced today that First American Spatial Solutions has agreed to provide flood modeling for Marsh clients with U.S. commercial properties. The flood risk assessments can be conducted on a company’s individual or portfolio of commercial properties to provide insight into their potential flood-related exposure. This information is valuable when businesses consider purchasing flood insurance for their commercial properties and could have a significant impact on the cost of insurance. “In the current economic environment, businesses in all parts of the country are trying to be more efficient in all aspects of operations, including the purchase of insurance and investments to protect themselves against risk,” said Duncan Ellis, a managing director and leader of Marsh’s U.S. Property Practice. “First American’s ability to model flood exposure throughout the nation provides a resource that businesses can use as a first step in assessing their risks. They then can look more closely at individual properties and revisit their property and flood insurance programs. In some cases, firms taking corrective action or those found to be less exposed to flood risk, may be able to manage their insurance purchases with greater confidence and possibly reduce their costs,” he added. “We are delighted to work with Marsh and to make our models available to their commercial clients throughout the country,” said Scott Little, vice president and general manager of First American Spatial Solutions. About Marsh About First American |