Guy Carpenter Publishes Fourth Annual Review of Liability Market in England and Wales

Guy Carpenter & Company, the leading global risk and reinsurance specialist and part of the Marsh & McLennan Companies (NYSE: MMC), today announced the publication of A Year in Review – 2006 Update, its fourth annual review of the liability market in England and Wales. The report provides an in-depth examination of major trends in directors and officers (D&O) claims, government regulation, litigation and EU and domestic legislation. The authors also identify emerging issues and preview the market for the remainder of 2007. "We identified the rapid growth in D&O claims as one of the principal trends in our 2005 report, but 2006 was the year in which we truly saw D&O come to the fore as a fully global issue,” said Nick Frankland, CEO, Guy Carpenter UK. "With burgeoning claims, an increase in high-profile litigation, heightened regulatory attention by the FSA and the arrival of the Companies Act, we expect D&O to continue to grow in importance throughout 2007 and 2008, and a host of new products to arise as a result.” Carolyn Morley, Managing Director, Guy Carpenter’s Casualty Specialty Practice, added, "We also saw a reduction in the overall number of liability claims being filed at court in 2005, and this trend has continued into 2006, due largely to an increase in mediations and successful resolutions of disputes. Moreover, we have noted a marked increase in independent, non-governmental regulation of various professions. It remains to be seen whether these independent reforms intended to raise standards within the professions lead to an increase or decrease in claims.” In addition to the D&O market, the report addresses developments across all major segments of the England and Wales liability market, including errors and omissions (E&O), environmental liability, employers and employment practices liability and group litigation. A full copy of the report, prepared by Guy Carpenter’s global Casualty Specialty Practice in collaboration with Fishburns Solicitors (www.fishburnslaw.com) is available for download at www.guycarp.com. Printed copies can be obtained by contacting Guy Carpenter at marketing@guycarp.com. Guy Carpenter & Company, LLC is the world’s leading risk and reinsurance specialist and a part of the Marsh & McLennan Companies. Guy Carpenter creates and executes reinsurance and risk management solutions for clients worldwide through 2,600 professionals across the globe. The firm's full breadth of services includes 16 centers of excellence in Accident & Health, Agriculture, Alternative Risk Transfer, Environmental, General Casualty, Investment Banking*, Life & Annuity, Marine & Energy, Professional Liability, Program Manager Solutions, Property, Retrocessional, Structured Risk, Surety, Terror Risk, and Workers Compensation. In addition, Guy Carpenter’s Instrat® unit utilizes industry-leading quantitative skills and modeling tools that optimize the reinsurance decision-making process and help make the firm’s clients more successful. Guy Carpenter’s website address is www.guycarp.com. *Securities or investments, as applicable, are offered in the (i) United States through MMC Securities Corp., a US registered broker-dealer and member NASD/SIPC, and (ii) European Union through MMC Securities Ltd., regulated by the Financial Services Authority for the conduct of investment business in the United Kingdom. Reinsurance products are placed through qualified affiliates of Guy Carpenter. MMC Securities Corp. and MMC Securities Ltd. are affiliates of Guy Carpenter.