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Aon And Insurer QBE To Continue Their Solicitors PI Insurance Facilities To 2008
Extension of arrangement provides stability to the legal profession's insurance arrangements

London, Tuesday 6 December 2005 – Aon Limited, leading insurance broker and risk management consultant, and insurer QBE have agreed to continue their solicitors Professional Indemnity (PI) insurance facilities through to 2008.

The deal is of great significance to the legal insurance market given that as many as one in five legal firms in the UK - or over 2,000 of the 1 to 10 partner firms - insure through these facilities.  The latest agreement also provides further solidarity to the placement of solicitors’ PI insurance.

Angus Cameron, Executive Director at Aon Professional Risks commented: "we have worked with QBE since 2000, to develop not just an insurance product but a whole suite of support mechanisms to help the profession and keep our clients informed of issues affecting their PI exposures.

Mark Casady, Portfolio Manager-Professional Indemnity, QBE Insurance (Europe) said:  "We are delighted to extend our Agreement with Aon and to help bring stability to the PI market.  We have always taken a long term view of writing solicitors’ business and have put considerable resources into developing a unique claims handling vehicle and quality assurance services for our clients".

Note to Editors:

About Aon
Aon Corporation ( http://www.aon.com ) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. There are 47,000 employees working in Aon's 500 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 related to future results, or states our intentions, beliefs and expectations or predictions for the future 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: general economic conditions in different countries in which we do business around the world, changes in global equity and fixed income markets that could affect the return on invested assets, fluctuations in exchange and interest rates that could influence revenue and expense, rating agency actions that could affect our ability to borrow funds, funding of our various pension plans, changes in the competitive environment, our ability to implement restructuring initiatives and other initiatives intended to yield cost savings, our ability to implement the stock repurchase program, changes in commercial property and casualty markets and commercial premium rates that could impact revenues, changes in revenues and earnings due to the elimination of contingent commissions, other uncertainties surrounding a new compensation model, the impact of investigations brought by state attorneys general, state insurance regulators, federal prosecutors, and federal regulators, the impact of class actions and individual lawsuits including client class actions, securities class actions, derivative actions, and ERISA class actions, the cost of resolution of other contingent liabilities and loss contingencies, and the difference in ultimate paid claims in our underwriting companies from actuarial estimates.  Further information concerning the Company and its business, including factors that potentially could materially affect the Company’s financial results, is 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.

QBE Insurance Group
QBE Insurance Group is one of the world's leading international insurers and reinsurers, headquartered in Sydney, Australia.  We operate out of 36 countries across the globe, with a presence in all key insurance markets and are lead underwriters within our chosen markets, setting rates and conditions.  To year end 31 December 2004, our gross written premium totalled £3.6 billion.

The Group consists of three geographically focused operational divisions: European Operations, based in London, the Americas, managed from New York, and the Australian Pacific Asia Central European operation – managed from Sydney.

QBE in Europe
QBE European Operations is a leading specialist in London market and European commercial lines business, active in both the Lloyd’s market through the managing agent Limit and the company arena through QBE Insurance (Europe), which includes the Ensign and MBP brands.

Recognition
Today QBE is internationally recognised as a highly successful general insurance and reinsurance group, a builder of shareholder wealth, and a developer of ‘can do’ people and an organisation that excels in the continuous delivery of new and proven quality products and services.

Ratings
Standard & Poor's insurer financial strength and counterparty credit rating for QBE's main insurance subsidiaries is A+ (Stable). Fitch Ratings insurer financial strength rating for QBE's main underwriting subsidiaries is A+, and the agency has also affirmed a long-term credit rating at A. Their outlook for all ratings is Stable.  A. M. Best assigned the financial strength rating of the QBE Group of companies A (Excellent).

For more information on QBE, please visit our website www.QBE.com

 

Aon Limited is authorised and regulated by the Financial Services Authority in respect of insurance mediation activities only.

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