Aon News

Interest in Crypto Insurance Grows, Despite High Premiums, Broad Exclusions

In the staid and buttoned-up world of insurance underwriting, few want to talk about it. You won’t find many ads promoting it or details on company websites offering it. But according to industry insiders, there’s a hot new business that …

Aon Names Matson to Lead New Global Portfolio Broking Team

Andrew Matson has been named leader of Aon’s newly formed Global Portfolio Broking team – a Reinsurance Solutions unit. Aon said the unit “will build on the success of established pioneering facilities, while developing new facilities in line with client …

TMK Launches $100M Intellectual Property Facility with Aon, Lloyd’s Syndicates

Tokio Marine Kiln (TMK) has established a US$100 million intellectual property (IP) facility with global insurance broker Aon and several other Lloyd’s syndicates. The facility will be led by TMK and is one of the first for IP in the …

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 …