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Aon comment on Gallagher report
London
NYSE: AOC

LONDON, 8 July 2008 - Aon, as a risk management advisor to the food industry and contributor to the Chatham House study on Global Food Supply Chain welcomes the Gallagher report on Biofuel use, recognising their part in rising world food prices and contributing to world food shortages.

Peter Jackson, head of Aon's Food Group, commented: "We welcome the Gallagher report's attempt at looking at the bio fuel issues in the round. As risk advisors we thoroughly recommend that complex issues such as use of bio fuels, linked as they are to many other related factors such as land use and food supply, are addressed with regard to how it impacts an already complex and finely tuned food supply chain.

"In the UK, food strategy has to balance off a number of critical issues including affordability, health, availability, land use, energy costs, environment and trade. Decisions about one aspect of land or food use should be made with regard to the full range of often contradictory issues."

UK government and business collaboration needs to invest more into food production research for use both at home and abroad to continue its current level of food-prosperity.

Agricultural research must address:

  • ensuring more drought resistant crops;
  • strategies for use of enabling technology such as GM; and
  • higher-yielding crops.

Individual businesses must sure up their food supply chains. But, worryingly, 45% of organisations are failing to assess and manage the threats to their supply chain whilst almost on a daily basis we are seeing food resources being diverted away from their traditional end-point. Grain is now headed to China, as the highest bidder on the market, rather than the traditional ports of the UK, the EU and other destinations, for example.

Ends

For further information or to arrange an interview with Peter Jackson, head of Aon's Food Group, please contact:
David Skapinker, 020 7505 7478, David.Skapinker@aon.co.uk 
http://aon.mediaroom.com

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 www.aon.com.

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