CHICAGO (March 4, 2016) – Aon Risk Solutions, the global risk management business of Aon plc (NYSE: AON), today announces that their proprietary Shortline Railroad Excess Liability Facility in London has been renewed through 2018.
The Aon Shortline Railroad Excess Liability Facility, backed by the security of Lloyd’s of London and other highly rated commercial markets, provides up to $175 million of liability insurance to qualified buyers and is designed to sit excess of the current liability limits carried by the individual railroad subject to a minimum excess point of $25 million. The facility is available to eligible insureds, even if Aon did not place the underlying coverage.
With more than 500 railroads in the United States, all competing for insurance capacity in the marketplace, Aon has provided another solution for an industry that is critical to the global economy. Shortline railroads are anticipated to face increased liability requirements from regulation and contractual relationships. In response, Aon’s Rail Team has worked with leading rail insurance markets to establish the Shortline Facility.
“Our clients need as many options as possible to help protect their respective businesses,” said Otis Tolbert, Rail Practice Leader, Aon Risk Solutions. “Our team continues to identify innovative ways to help ensure the success of our clients. Simply enough, we want to enable clients to manage risk without sacrificing business goals.”
Aon is a leading global provider of insurance brokerage services and places more than $200 million in annual railroad premiums. Aon’s dedicated Rail Team has more than 20 personnel in Baltimore, Chicago, Atlanta, London and Bermuda.
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.
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