LONDON, 5 December 2008 – Leading global risk and insurance firm Aon Risk Services has launched a new product aimed at restoring confidence in insurance portfolio stability.
Aon has partnered with Allianz Global Corporate & Specialty to develop Double A Protect, an exclusive insurance solution that provides multi-line excess capacity of up to €25M from a Standard & Poor’s AA-rated insurer. The solution covers General Liability and Directors & Officers, including up to five years of retroactive cover for General Liability.
Double A Protect was designed to stabilise insurance portfolios during market volatility by protecting against insolvency. The product affords a drop-down option for companies with concerns about the performance of their portfolios.
Coverage is offered on a claims-made basis and available to non US-headquartered companies in all industries, with the exception of financial institutions.
Marguerite Soeteman-Reijnen, chief broking officer for EMEA, commented: “Our clients expect distinctive value from us and that means developing solutions that match their needs and requirements in today’s changing market place. Following the turmoil in the financial services sector, we know what we know today, however we don’t yet know what tomorrow will bring.”
Andreas Berger, global head of market management and communication at Allianz Global Corporate & Specialty, added: “Clients needed a response that was quick but appropriate for dealing with the market’s volatility. Our close risk dialogue enabled us to create a truly innovative solution that provides stability in a time of uncertainty.
For more information contact:
+44 (0)20 7882 0541
+49 89 3800 16534
Aon Corporation (NYSE: AOC) is the leading global provider of risk management services, insurance and reinsurance brokerage, and human capital 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. In 2008, Aon ranked highest on the Business Insurance ranking of the world's largest insurance brokers based on commercial retail, wholesale, reinsurance and personal lines brokerage revenues. Aon also was ranked by A.M. Best as the number one insurance broker based on brokerage revenues in 2007 and 2008, and was voted best insurance intermediary, best reinsurance intermediary, and best employee benefits consulting firm in 2007 and 2008 by the readers of Business Insurance. Sign up to receive Aon news alerts by email or RSS feed at: http://aon.mediaroom.com/index.php?s=58.
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