Aon News

GDPR Insurance: Coverage for Fines Hard to Find But Other Non-Compliance Costs Insurable

The civil fines for non-compliance with the European’s new data privacy law can be steep but organizations across Europe should not expect to have their insurance cover them. Unless the business or organization is in Norway or Finland. A “price …

Aon Retires Benfield, Risk Solutions Brands; Names Anderson, O’Connor as Co-Presidents

Global insurance broker Aon has joined its two brands– Benfield and Risk Solutions– into one operational unit and named the chief executives of the two brands as co-presidents of the company. Eric Andersen, CEO of Aon Benfield, and Michael O’Connor, …

Aon Appoints Lambrou Global Chief Commercial Officer, CEO of Global Specialties

Global insurance broker Aon announced the appointment of Lambros Lambrou to the new role of global chief commercial officer and CEO of Global Specialties for the firm’s commercial risk business. Lambrou has worked within the risk management industry for three …

Aon Promotes Craig-Burke to Managing Director in Atlanta

Aon has announced the promotion of Lurline Craig-Burke to managing director in its Atlanta office. Craig-Burke previously served as a member of the firm’s leadership team responsible for engaging clients’ executive leadership and Boards of Directors in delivering risk, retirement, …

Cigna to Buy Pharmacy Benefits Manager Express Scripts for $52 Billion

U.S. health insurer Cigna Corp. struck a $52-billion deal to buy pharmacy benefits manager (PBM) Express Scripts Holding Co on Thursday, looking for new ways to hold onto their profits as the industry faces greater scrutiny for rising healthcare costs. …

Allianz, Aon Offer Cyber Insurance Discounts for Apple, Cisco Customers

Apple Inc. and Cisco Systems Inc. have teamed up with insurer Allianz SE to offer discounts on cyber insurance to businesses that primarily use equipment from both technology companies, they said on Monday. The arrangement, which also includes insurance broker …

Insurers Begin to Offer Cryptocurrency Theft Cover, Tackling Risks of Growing Sector

Major global insurers are starting to offer protection against cryptocurrency theft, willing to tackle daunting challenges it brings rather than miss out on this volatile and loosely regulated, but rapidly growing business. So far only a few insurers sell such …

Aon Switzerland Buys Swiss Broker Unidelta AG

Aon plc has acquired 100 percent interest in Unidelta AG, an insurance broker located in Rapperswil, St. Gallen, Switzerland. Unidelta AG was founded in 2004, and is an independent all-line insurance broker with a strong focus on personal injury management. …

UK Regulator to Probe Wholesale Insurance Broking Market

Britain’s financial services industry regulator is to launch later this week a long-promised investigation into competition in the wholesale insurance broking market, where one top executive has complained of “abusive behavior.” The Financial Conduct Authority said on Monday it would …

Aon Completes Acquisition of Dutch Broker Unirobe Meeùs Groep

Aon Groep Nederland announced it has completed its acquisition of Unirobe Meeùs Group (UMG) from Aegon for €295 million (343.4 million). The acquisition encompasses the whole of Unirobe Meeùs Group, said Aon, noting that on completion Aon will be the …