Aon: Bermuda Markets Introduce Single Excess Follow Form

Aon Corp. announced that key general liability insurance markets in Bermuda have for the first time agreed to accept a single excess follow form from Aon. The form will provide Aon’s clients “with greater contract certainty, clarity and consistency among carriers,” said the bulletin. “The Bermuda Shorts Form is acceptable for both occurrence and claims-made business and offers flexibility to deal with punitives in various scenarios.”

Karen White Lawson, executive vice president of Aon Bermuda, noted: “Aon and Endurance Specialty have been working closely over the past year to achieve this important milestone. The response by the markets has been tremendous, and we expect the list of insurers that accept the Bermuda Shorts Form to continue its rapid growth.”

The new policy is currently available to Aon clients through Endurance, as well as Arch Insurance Bermuda and Canopius Underwriting Bermuda. It “includes no buried exclusions and takes into consideration Bermuda-specific issues, such as arbitration, state-specific endorsements, liberalization and sublimits,” said Aon.

Joe Rego, president and chief operating officer of Aon Bermuda, added: “Excess follow form contracts can vary greatly from carrier to carrier, and we are pleased to deliver an innovative solution to significantly relieve this administrative headache for our clients.”

Aon explained that the Bermuda Shorts Form “was developed in a clear, concise follow-form contract, including two pages of declarations and a four-page policy form, and can be utilized under Aon-headed documentation to provide a far greater degree of certainty on behalf of clients.”

More information is available by calling the following Aon Bermuda contacts:

Joe Rego — 441-278-1227
Geoff Blee — 441-278-1203
Karen White Lawson — 441-278-1226

Source: Aon – www.aon.com