Aon Introduces New Risk Transfer Service

Aon Corp. introduced a “new risk transfer service that for the first time allows companies to secure in excess of $100 million of blanket protection to recover damages or enforce rights for patents, trademarks, copyrights and other intellectual property assets.”

The coverage, which provides much higher limits than those generally available, as well as extensive consulting services, was created in response to the greatly increased number of claims involving intangible property rights. These claims increased from $5 million in 1982 to more than $3.8 billion in 1998, and are expected to continue rising.

In a prepared statement, Aon CEO Patrick G. Ryan said: “Companies are realizing that their overall risk profile is shifting from hard assets – property, plants and equipment – to so-called intangible assets, such as patents and copyrights. The issue of how to protect intellectual property is now a pre-eminent concern among CEOs.”|”aon, introduces, new, risk, transfer, service