Aon Appoints Lambrou as Global CEO of Commercial Risk Solutions

Article 0 Comments Aon plc has appointed veteran Aon leader, Lambros Lambrou, as global CEO of Commercial Risk Solutions. Lambrou has worked within the risk management industry for more than three decades, holding leadership roles that span numerous Aon solution lines and regions. Lambrou assumes the Commercial Risk Solutions CEO […]

Fitzgerald, Chief of Broking, Exits Aon After 27 Years

Article 0 Comments Global insurance broker Aon reported that Tom Fitzgerald is leaving the firm after 27 years of service. Fitzgerald most recently served as chief executive of Aon Broking, and before that he led the U.S. Commercial Risk and Health businesses. Aon said Fitzgerald will immediately transition his responsibilities […]

Global Malware Attack Could Cost Insurers $27 Billion

Article 0 Comments A coordinated global cyber attack, spread through malicious email, could cause economic damages anywhere between $85 billion and $193 billion, a hypothetical scenario developed as a stress test for risk management showed. Insurance claims after such an attack would range from business interruption and cyber extortion to […]

Insurance Covered $90B of Natural Disaster Losses in 2018, Leaving 60% Protection Gap

Article 0 Comments The economic costs of last year’s 394 natural catastrophe events came to US$225 billion with insurance covering US$90 billion of the overall total, creating the fourth costliest year on record of insured losses, according to an Aon report titled “Weather, Climate & Catastrophe Insight – 2018 Insight […]

Cryptocurrency Industry Struggles to Buy Insurance, Hindering Growth Goals

Article 0 Comments Cryptocurrency exchanges and traders in Asia are struggling to insure themselves against the risk of hacks and theft, a factor they claim is deterring large fund managers from investing in a nascent market yet to be embraced by regulators. Getting the buy-in from insurers would mark an […]

Most UK SMEs Don’t Understand Risks of Cyber Attacks, Data Loss: Aon Poll

Article 0 Comments A poll of small and medium-sized enterprises (SMEs) and micro businesses in the UK shows over half are confused by or even unaware of the rules around the EU’s General Data Protection Regulation (GDPR), while more than eight out of 10 don’t see cyber attacks or data […]

Public Transit Systems See Rise in Liability Losses

Article 0 Comments Nationally, public transit systems are seeing a steady increase in liability claim severity, even as ridership declines, according to a new study from Aon. Aon’s study found that overall public transit liability claim frequency is growing 1 percent annually, with claim severity climbing 2 percent annually. On […]

Patrick Ryan Hails Program Business Amid Retail Consolidation, Moves Toward MGAs

Article 0 Comments Target Markets Program Administrator Association Industry Keynote Speaker Patrick G. Ryan, founder, chairman and CEO, Ryan Specialty Group, addressed attendees at the group’s 18th Annual Summit on Oct. 22., in Scottsdale, Ariz. Insurance industry trailblazer Patrick Ryan thinks the insurance program business could be headed for interesting […]

Aon Forms New Ventures Group, Led by Chief Innovation Officer Goland

Article 0 Comments Aon plc announced it has formed a new unit called New Ventures Group, which is designed to increase Aon’s investment in innovative new businesses. The global unit will identify, incubate and deliver new sources of value for clients, explained an Aon representative. In addition, Aon has appointed […]

Aon and Fixico Offer Digital Car Repair Solution for Fleet Clients in Belgium

Article 0 Comments Aon is partnering with Fixico to offer a fully-digital solution to handle car repairs for Aon’s fleet clients in Belgium. Fixico offers a digital platform for car repair handling, which is directly connected to a wide network of selected high-quality repair shops in Belgium, explained Aon. This […]