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Robust Enterprise Risk Program Can Strengthen Ratings: Aon
Chicago
NYSE: AOC

CHICAGO, May 14, 2008 - Aon Global Risk Consulting today urged corporations to begin an immediate evaluation of their enterprise risk management programs, focusing particularly on risks that might hinder growth and development, and on the culture of risk awareness across the organization.

The move comes in response to a communication this month from Standard & Poor's that the rating agency is enhancing its rating process for non-financial companies to include a review of their enterprise risk management programs.

"Through this assessment process, S&P aims to evaluate the extent to which corporations approach risk management from an integrated, company-wide perspective," said Laura Taylor, Aon Global Risk Consulting's ERM national practice leader. "Processes through which organizations understand, manage and communicate information about risks arising throughout the enterprise will be scrutinized. Therefore, senior management of S&P-rated corporations need to demonstrate that risk mitigation is an element of their strategic decision making process in order to score well on the S&P ERM assessment."

Even as regulators and corporate stakeholders push companies to do more to mitigate enterprise-wide risks, only one in 10 companies in the Americas and Europe has fully integrated an enterprise risk management (ERM) strategy, according to a recent Aon Global Risk Consulting survey.
At the heart of ERM is a comprehensive understanding of the global risks facing an organization, the design of strategies to mitigate those risks and the building of a corporate culture focused on risk management.

Aon Global Risk Consulting is a unit of Aon Corporation (NYSE: AOC).

For more information, visit http://aon.mediaroom.com/index.php?s=65&item=226.

About Aon

Aon Corporation (NYSE: AOC) is the leading global provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting. Through its 36,000 colleagues worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Our industry-leading global resources, technical expertise and industry knowledge are delivered locally through more than 500 offices in more than 120 countries. Aon was named the world's "best broker" by Euromoney magazine's 2008 Insurance Survey. Aon also was ranked by A.M. Best as the number one global insurance brokerage in 2007 based on brokerage revenues, and voted best insurance intermediary, best reinsurance intermediary, and best employee benefits consulting firm in 2007 by the readers of Business Insurance. For more information on Aon, log onto http://www.aon.com/.

 

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