TRADECARD, MARSH PACT BRINGS CARGO INSURANCE TO TRADE TRANSACTION NETWORK
Buyers and Sellers Will Receive Instant Quotes and Claims Processing Online
New York, NY - October 31, 2000 - TradeCard, Inc., an online international trade transaction
network for buyers and sellers, today announced an agreement with Marsh, the world's leading risk management and
insurance services firm, to provide TradeCard members seamless access to competitive rates and services in cargo
insurance, a critical component of cross-border trades.
"TradeCard members can now obtain online cargo quotes and insure their shipments with the relevant underwriters
through the Marsh-managed program directly from the TradeCard system in a completely paperless way, from quote and
purchase to claims processing," said Kurt Cavano, Chairman and CEO of TradeCard. "TradeCard is delighted to welcome
Marsh as a key partner of the TradeCard network. The Firm's high standards, expertise and worldwide presence have
earned it the reputation as the global risk and insurance services leader."
Marsh joins a well-established network of TradeCard trade service providers, which includes Coface, the world's
largest export credit insurer. Marsh and Coface's respective expertise in the cargo and credit insurance industries
enhances TradeCard's secure and comprehensive network, providing TradeCard members a unique level of trust as they
conduct international trade transactions online.
David Trezies, Chairman of Marsh Ltd., said, "Marsh is delighted to be the insurance consultant charged with
facilitating a paperless, state-of-the-art underwriting system that not only manages the needs of TradeCard members,
but also streamlines international insurance. An important part of the service utilises Marsh's STARS programme - a
comprehensive Risk Management Information System which administers claims and premium movements."
During the procurement phase of a trade transaction, the TradeCard system allows the buyer and seller to negotiate
and agree upon the Incoterm they wish to use for a particular transaction. (An Incoterm is used in international
trade contracts to define which parties incur the costs and at what specific point the costs are incurred.) Depending
on the agreed-upon Incoterm and the underwriting criteria, the system offers the appropriate party the option of
purchasing cargo insurance. If the buyer or seller chooses to purchase insurance, they can view a cargo insurance
quote and choose whether or not to accept this quote. Once accepted, the cargo insurance document becomes a binding
contract.
About TradeCard
TradeCard is a business-to-business e-commerce infrastructure that enables buyers and sellers to conduct and settle
international trade transactions securely over the Internet. By aggregating buyers, sellers and disparate trade
service providers, our solution automates and streamlines existing international trade transaction processes, which
are complex, paper-based, time-consuming and expensive. Our objective is to provide a secure, reliable, cost-
effective and easy-to-use solution for conducting and settling international trade transactions. TradeCard, Inc. is
headquartered in New York City with U.S. offices in San Francisco, San Diego and Chicago, and Asian offices in Hong
Kong and Taiwan. TradeCard can be found on the World Wide Web at http://www.tradecard.com.
About Marsh
Marsh Inc is the risk and insurance services subsidiary of Marsh & McLennan Companies (MMC). MMC is a global
professional services firm with annual revenues exceeding $9 billion. Besides Marsh Inc., it is the parent company of
Putnam Investments, one of the largest investment management companies in the United States and Mercer Consulting
Group, a major global provider of consulting services. More than 55,000 employees provide analysis, advice and
transactional capabilities to clients in over 100 countries. Its 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.
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This press release contains a number of matters that constitute forward-looking
statements. The presentation reflects the current views of TradeCard's
management with respect to future events and is subject to risks and
uncertainties that could cause actual results to differ materially
from those contemplated in such forward-looking statements.
