LONDON, 15 December 2005 – Two experts from Aon, a leading insurance broker and risk management consultant, have been handpicked by the British Standards Institute (BSI) to sit on the UK’s first Risk Management (RM) and Business Continuity Management (BCM) Technical Standards Committees.
Risk and Business Continuity Manager Tim Chadwick, from Aon’s Group Risk department, will sit on the Risk Management Technical Standards Committee, while Hugh Leighton, Risk Consultant – Director for Aon’s Risk Control Consultants, will join the BCM Technical Standards Committee.
The BSI Committees will develop national best practice documents to provide guidance on how to manage risk and business continuity. These standards will help UK businesses plan for and cope with potential issues, crises and disasters in an increasingly uncertain environment.
Nicki Dennis, Head of Risk Market Development at the BSI, said of the appointments: “Hugh and Tim are at the cutting edge of their profession and therefore can bring practical experience to the committees. The development of British Standards is a result of this industry knowledge plus consultation with business, and working through Tim and Hugh gives us access to SMEs in addition to larger corporates. The next step is for businesses to look out for the Standard drafts to be issued in spring and autumn for Business Continuity and Risk Management respectively.”
Mr Chadwick commented: “The creation of a British Standard for risk management represents an important development for the discipline within the UK. It is a great opportunity to provide organisations with the consistent guidance they need to manage risk effectively and minimise losses that can disrupt or threaten the achievement of their business objectives.”
Mr Leighton added: "We have welcomed the new British Standard for business continuity management as a natural progression from the Publicly Available Specification, an industry-sponsored standard which was published in 2003. It will outline targets for organisations to aim for within their own business continuity process and, equally important, enable them to measure those upon who they depend or other organisations in their supply chain. I have no doubt that it will support UK organisations to create robust processes which will allow them to be prepared in the event of a future business disruption."
About Aon
Aon Corporation (www.aon.com ) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. The company employs approximately 53,000 professionals in its 600 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions.
This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results, depending on a variety of factors. Potential factors that could impact results include the general economic conditions in different countries around the world, fluctuations in global equity and fixed income markets, exchange rates, rating agency actions, pension funding, ultimate paid claims may be different from actuarial estimates and actuarial estimates may change over time, changes in commercial property and casualty markets and commercial premium rates, the competitive environment, the actual costs of resolution of contingent liabilities and other loss contingencies, the heightened level of potential errors and omissions liability arising from placements of complex policies and sophisticated reinsurance arrangements in an insurance market in which insurer reserves are under pressure, and the timing and resolution of related insurance and reinsurance issues relating to the events of September 11, 2001. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, are contained in the Company's filings with the Securities and Exchange Commission.
Aon Limited is authorised and regulated by the Financial Services Authority in respect of insurance mediation activities only.
Access international media contacts, the full library of Aon media releases, and a media kit with fact sheet and executive bios, via links below.