In this episode of The Legacy Lounge, we sit down with Carol Sherron, a distinguished leader in private client risk management who has dedicated her career to protecting the assets and legacies of high-net-worth families at Marsh McLennan Agency (MMA), a subsidiary of Marsh, the world's number one insurance brokerage firm.

Carol takes us behind the scenes of the inception of the Private Client Services division, established in 1980 to address the unique and complex needs of affluent clients. From multiple homes across borders to valuable art collections, vintage automobiles, and jewelry, she explains why standard retail insurance falls dangerously short, and reveals the startling statistic that 94% of homeowners lack awareness of flood insurance, leaving them vulnerable to devastating losses.

She shares real-world examples of insurance gaps that have cost families hundreds of thousands of dollars, explains the critical difference between replacement cost and market value coverage, and walks through MMA’s comprehensive discovery process that identifies risks most people don't even know they have. Carol also discusses the rising frequency of billion-dollar natural disasters and how MMA’s risk advisory team helps clients build climate resilience through practical, cost-effective strategies, from defensible space planning in wildfire zones to hurricane-proof glass installations in coastal areas.

Beyond protection, Carol reveals how MMA creates customized financial literacy programs for families, helping the next generation understand everything from liability coverage to distracted driving. She also opens up about her own journey as a woman in insurance, sharing the invaluable advice her mother gave her about thinking bigger and never self-limiting, and why speaking up and taking calculated risks have been essential to her success.