New York, NY and Boston, MA - January 15, 2002
Marsh Inc., the world's leading risk and insurance services
firm, and GenuOne, Inc., a leading provider of product and technology
security services, today announced they have entered into an agreement
to help businesses safeguard the integrity of their products, brands
and intellectual property.
Through the use of proprietary product and packaging marking
technologies and Internet�based distribution channel monitoring
services, GenuOne helps leading corporations manage risk related to the
global sourcing, manufacturing and distribution of their products and
services.
Marsh arranges a wide range of risk and insurance services,
including crisis consulting, reputation risk assessments, brand
integrity services and risk solutions to complement GenuOne programs.
"The widened use of the Internet as a marketing channel and the
global expansion of supply chain and distribution have exacerbated
risks of counterfeiting, unauthorized diversion, and abuses to brands,
trademarks, and intellectual property. These exposures now cost
businesses billions of dollars," said Stephen Polinsky, co-founder of
GenuOne. "To address these exposures businesses need to ramp up efforts
for policing their supply chain security and mitigating financial
consequences of lost revenues and diluted brand equity."
According to the International Anti-Counterfeiting Coalition, counterfeiting represents a $350 billion per year global problem.
"By working with Marsh and GenuOne, clients have access to a
spectrum of services that can protect their brands, products and
reputations," said NAME, TITLE of Marsh. "While GenuOne provides a
number of operational safeguards to identify and prevent product and
technology abuses, Marsh can design programs to protect against the
financial implications of these occurrences."
Insurance, such as trademark enforcement coverage arranged by
Marsh, can indemnify companies for the cost of litigation against
individuals or businesses that infringe upon U.S. trademarks. In
addition, cyber risk insurance solutions protect against a number of
e-business risks, including loss of data caused by hacking, programming
attacks and viruses, as well as liabilities associated with Internet
commerce. Marsh also designs and arranges commercial property and
casualty insurance coverages that provide related safeguards. These
solutions include product liability programs, which can protect
manufacturers or marketers in the event of a lawsuit involving a
counterfeit product, and cargo insurance to guard against product
diversion and other losses during transit.
About Marsh, Inc.
Marsh, the world's leading risk
and insurance services firm, has 35,000 employees and annual revenues
of $4.8 billion. The firm provides advice and transactional
capabilities to clients in over 100 countries. Marsh New England is
located at 200 Clarendon Street, Boston. Marsh is a unit of Marsh &
McLennan Companies (MMC), a global professional services firm with
57,000 employees and annual revenues of $10 billion. MMC also is the
parent company of Putnam Investments and Mercer Consulting Group. MMC's
stock (ticker symbol: MMC) is listed on the New York, Chicago, Pacific
and London stock exchanges. MMC's Web site address is www.mmc.com.
Marsh's Web site address is www.marsh.com.
About GenuOne
GenuOne is an innovative provider of comprehensive brand security
solutions, offering a fully integrated approach to intellectual
property protection. Its technology and integration services maximize
brand dominance and minimize counterfeiting, product diversion,
licensing/royalty fraud and intellectual property theft in the physical
world and on the Internet. GenuOne's authentication, tracking and
control technologies combined with its integration services allow
companies to monitor products throughout the supply chain cycle, from
the initial manufacturing process to the retailers' shelves, as well as
on the Internet. GenuOne has developed strategic, Brandsecure™
solutions for companies including New Balance Athletic Shoe, Titleist
and Footjoy Worldwide and Xerox Corporation. Its solutions have
empowered these companies to protect the integrity of their brands.
Visit the GenuOne website a www.genuone.com.
GenuOne is a registered trademark of GenuOne, Inc. All rights reserved.
