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Marsh – Build back better

Construction and Property

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About the product/service

Every year the insurance industry spends billions of dollars paying for business to recover from losses. Conventionally, the repair or replacement would be on a like-for-like basis (including new for old). However, there may be more sustainable replacement scenarios that a conventional policy would not cover.

This coverage enhancement helps businesses to build back better, in a more suitable way, if they do suffer a loss to their property, even if the replacement is quite different from the item lost.

Supporting greener outcomes

This coverage enhancement supports businesses in making sustainable choices, even after they have suffered a loss. It has the potential to help accelerate the transition to net-zero.

Enabling customers today

Clients across a range of industries have benefited from enhanced coverage, achieved through a revised Basis of Recovery clause, in their policy wording. For example, if an energy company suffers a loss, it may choose not to replace the damaged asset but instead to use the claim proceeds to build renewable capacity at an entirely different location. This would not have been allowed in a conventional policy.


Max Oppenheim

Senior Vice President, Energy & Power Practice