Marsh & McLennan Inc. on Monday unveiled a program to provide investors in money market funds with up to $100 million of protection against defaults by issuers of securities held by the funds.

The New York insurance broker plans to sell the coverage to mutual fund distributors, as well as to commercial and investment banks that offer money market mutual funds.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.