Thai businesses unprepared for new consumer protection legislation, Marsh warns

Bangkok, 15 October 2008- Marsh, the world’s leading insurance broker and risk adviser, today warned Thai businesses involved in the manufacturing, selling or servicing
products to check their product liability risk management strategies, in preparation for the new legislation to protect consumer named the Act on Liability for Injury from Unsafe
Products (the “New Act”).

The New Act significantly increases the liability for manufacturers, distributors, importers and servicers of almost any type of product, and comes into effect in February 2009.

“This is a significant step forward for Thailand in terms of bringing greater accountability to product manufacturers and protection for consumers,” said Robin Armstrong, CEO for
Marsh PB Thailand.

“However, it means these same companies need to ensure they have appropriate product liability protection and product recall strategies in place to mitigate the serious financial exposure they could face.”

Product Liability Insurance has been available both globally and locally in Thailand for many years. The New Act will bring a sense of urgency for businesses that are potentially exposed.

The New Act covers a wide range of products, including consumer goods, goods used at a place of work, foodstuffs, ingredients of food stuffs, building materials, product
components, raw materials, pharmaceutical and healthcare products.

“The far-reaching impact of the new legislation means that almost all types of companies are at risk of being sued. Product Liability Insurance is a time-tested solution for businesses to protect themselves against the serious financial consequences of any potential claims,” said Mr Armstrong.

Product liability insurance protects your business against the legal liability to pay damages for death, injury or damage caused by defects in product design, manufacture
process or supply. The policy usually dictates a maximum dollar amount of liability during a 12 month period.

The policy is designed according to a company’s particular circumstances, but typically covers a range expenses related to any claim, including solicitors' fees, court expenses, damages and claimant's costs. It does not cover punitive damages.

“Thai businesses must take product liability seriously, given the country’s booming manufacturing industry and amount of Thai products in the global marketplace. Companies should seek professional advice to proactively manage their financial
exposure before it’s too late.”

Marsh PB has extensive experience both globally and locally in Thailand with helping clients manage their product liability risk and product recall strategies.

Contact
William Sargent
+65 8139 7400
william.sargent@marsh.com

About Marsh
Marsh, the world’s leading insurance broker and risk advisor, has 26,000 employees and provides advice and transactional capabilities to clients in over 100 countries. Marsh is a unit of Marsh & McLennan Companies (MMC), a global professional services firm with more than 55,000 employees and exceeding $11 billion of annual revenues. MMC also is the parent company of Guy Carpenter, the risk and reinsurance specialist; Kroll, the risk consulting firm; Mercer, the provider of HR and related financial advice and services; and Oliver Wyman, the management consultancy. MMC’s stock (ticker symbol: MMC) is listed on the New York, Chicago and London stock exchanges. MMC’s Web Site is www.mmc.com.  Marsh’s Web site is www.marsh.com.