BEIJING, Nov. 7 /Xinhua-PRNewswire/ -- Marsh has placed a tailor-made insurance program for the construction and erection of the Great Observation Wheel in Beijing, the world's largest observation wheel. The construction and erection of the Great Observation Wheel is scheduled for completion next year.
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At a height of 208 meters, the Great Observation Wheel -- Beijing will be the tallest in the world. It has been specifically designed and positioned to be a prominent Beijing landmark with exciting and convenient supporting retail facilities. Development, planning and operations for the project will draw from both traditional sources and more recent successful leisure and entertainment models now operating in the United States and Europe.
"We expect it will be a most successful attraction for visitors," says Mr. Stephen Matter, the chief executive of the Great Beijing Wheel Company. The wheel is scheduled to be opened in time for the Beijing Olympic Games next year.
Marsh, the world's leading risk and insurance specialist, was engaged by Great Beijing Wheel Company Limited to advise on risk and place the insurance for the project.
"We are proud to be associated with such a tremendous achievement as the Great Observation Wheel," says Paul Wilkins, the chief executive of Marsh Greater China.
Marsh brought its experience from Britain's London Eye observation wheel and other large infrastructure projects from around the world to devise an appropriate insurance program. The program includes insurance for Delay in Start-up, Project Cargo and Project Professional Indemnity, and was strongly supported by leading reinsurers in the global market.
The official signing of the insurance contact was held during the construction commencement ceremony for the project on November 5 at 11am in Chaoyang Park, Beijing.
About Marsh:
As the world's leading insurance broker and risk advisor, Marsh 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 approximately 55,000 employees and approximately $12 billion of annual revenues. MMC also is the parent company of Guy Carpenter, Kroll, Mercer Human Resource Consulting, Oliver Wyman, and Putnam Investments. MMC's stock (ticker symbol: MMC) is listed on the New York, Chicago, and London stock exchanges. MMC's Web Site is http://www.mmc.com .
