Aon News

Lloyd’s Insurers Preparing to Cover Ukraine Grain

LONDON —Lloyd’s of London insurers and brokers are preparing to provide cover for grain shipments from Ukraine and are likely to announce their plans shortly, the commercial insurance market’s chairman said on Wednesday. Russia and Ukraine signed a deal on …

Claims People: NYSIR, Charles Taylor, Aon, Swiss Re and NAU

NYSIR Hires Senior VP for Claims The New York Schools Insurance Reciprocal, which provides property and casualty insurance for New York state school districts, appointed Michael T. Murdoch as senior vice president of claims. Murdoch has 38 years of experience …

Climate Change ‘Steroid’ Contributed to $130B in Insured Losses Last Year-Aon

LONDON–Climate change played a part in insured losses from natural catastrophes that totalled $130 billion globally in 2021, the fourth-highest on record, broker Aon said in a report on Tuesday. Economic losses–the combination of insured and uninsured losses–reached $343 billion, …

Malpractice Insurance Premiums Increased 22%, Despite Fewer Claims

The number of malpractice claims filed against hospitals and physicians dropped 14% last year, even as premiums rose 22% on average, according to a report by the American Society for Health Care Risk Management and Aon. An analysis of Aon’s …

Property Insurers Exposed to $12.5B in ‘Silent Cyber’ Losses, Market Analysts Say

US property insurers are exposed to $12.5 billion in non-physical cyber losses that are not expected and not priced by underwriters, according to a report released Tuesday. CyberCube, AM Best and Aon teamed up to calculate the “silent cyber” exposure …

Aon Says Natural Disaster Insured Losses for First Half of Year Hit 10-Year High

LONDON — Insured losses from natural disasters hit a 10-year high of $42 billion in the first half of 2021, with the biggest loss related to extreme cold in the United States in February, insurance broker Aon said on Wednesday. …

Justice Dept. Sues to Stop Aon’s Purchase of Willis Towers Watson

WASHINGTON — The U.S. Justice Department filed a lawsuit on Wednesday aimed at stopping insurance broker Aon’s $30 billion acquisition of Willis Towers Watson because it would reduce competition and could lead to higher prices. The deal would combine the …

Claims Process ‘Challenging’ as Insurers Suffer Record Winter Losses, Aon Says

US insurers suffered record-breaking winter storm losses during the first quarter of 2021 while also grappling with several high-profile cyberattacks, according to a report released Thursday by Aon. Maybe claims departments are becoming a little testy. Aon’s quarterly Global Market …

Insurer Chubb Offers to Acquire Rival Hartford for $23.24 Billion

Property and casualty insurer Chubb Ltd on Thursday offered to acquire smaller rival Hartford Financial Services Group Inc in a $23.24 billion cash-and-stock deal. Chubb’s $65 per share offer represents a premium of 13.2% to Hartford’s last close of $57.41. …

Claims Business: Aon and Praedicat, Sedgwick and CSC, Swiss Re and Iceye

Aon Teams Up With Praedicat for Emerging Risks Aon is collaborating with Praedicat to develop specialty product liability reinsurance products for emerging risks created by new technology, such as nanomaterials and 5G cellular service. Aon, a Chicago based brokerage and …