CHICAGO (Jan. 26, 2016) – Aon plc (NYSE:AON), the leading global provider of risk management, human resource consulting and outsourcing, has launched Lloyd’s Lead Excess Aon Facility (Lloyd’s LEAF), a solution that increases placement options for Aon’s U.S. clients facing global casualty risks while delivering greater contract certainty and claims efficiencies via the Lloyd’s Claims scheme.
Lloyd’s LEAF brings a flexible limit of up to $100 million of dedicated A+ rated capacity to Aon clients, while drawing on the expertise and security of the London market.
LEAF is underwritten on a surplus lines basis and has the ability to write business across a broad range of industry classes and consider various policy forms. The facility includes a bespoke Lloyd’s Occurrence Policy that Aon developed with a number of leading Lloyd’s casualty underwriters, which offers significant coverage benefits for Aon clients. The facility is also able to support claims made and occurrence reported policy forms.
Karen Lawson, leader of Aon Risk Solutions Umbrella/Excess Liability said, “In this dynamic, changing marketplace, we believe our clients would welcome additional Casualty Lead Umbrella options. As Lloyd’s casualty appetite has continued to expand, our response has been to develop Lloyd’s LEAF. The facility delivers considerable advantages to our clients – specifically, a broad, pre-negotiated policy form that brings all markets under one policy, strengthened claims handling through the Lloyd’s market and rapid underwriting decisions.”
Simon Good, leader of Aon Risk Solutions London Casualty Team added, “Lloyd’s already forms an essential component of the casualty coverage we offer our U.S. clients and we are delighted to have been able to work together with this panel of underwriters, who are well known to many of our clients, to deliver this new and innovative solution.
Our aim is to provide a viable new vehicle, not only for Lloyd’s to potentially build upon existing client relationships, but also to introduce a new option to those clients who may not yet have such a relationship in place at Lloyds.”
The facility is available exclusively through Aon London.
Aon plc (NYSE:AON) is a leading global provider of risk management, insurance brokerage and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 72,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative risk and people solutions. For further information on our capabilities and to learn how we empower results for clients, please visit: http://aon.mediaroom.com.