Investor Relations Disclaimer

You are about to review presentations, reports, filings and/or other materials regarding Aon plc (NYSE: AON) that contain time-sensitive information. The information contained therein is only current as of the date thereof. Aon expressly disclaims any obligation to review, update or correct these materials after the date thereof. Aon may update, amend, supplement or otherwise alter the information contained in any such materials by subsequent presentations, reports, filings, or other means without notice.

Certain statements made on this web site or in materials accessed in or through this section of our web site are “forward-looking statements,” which are subject to risks and uncertainties, and Aon's actual results may differ (possibly materially) from those indicated in such statements. See Legal Notice for further information regarding such statements and additional disclaimers with respect to the materials and sites that you may access through the Investors section of our Web site.

I Understand   |   Return Home

Aon Announces MGA Featuring the World's Largest Capacity for Intellectual Property Liability Risks

05/11/2020

CHICAGO, May 11, 2020 /PRNewswire/ -- Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, today announced the establishment of a new underwriting platform featuring the world's largest known delegated capacity for intellectual property liability risks.

It is the latest offering from Aon to meet the changing needs of clients' intellectual property (IP) exposures, especially in this distressed economic environment.

Ian Lewis, a recognized underwriter in the field of IP, recently joined Aon to spearhead the development of a strong, market-leading underwriting team and the creation of a portfolio of innovative risk transfer solutions for IP and other intangible asset risks to be offered by this Managing General Agent (MGA).

"We are investing aggressively to bring together market-leading experts from the IP world to best serve our client needs," said Lewis Lee, CEO of IP Solutions at Aon. "Considering the current economic environment, the importance of managing the value creation opportunity afforded by IP and the downside risk mitigation of IP has never been higher, and the timing of Aon's IP MGA could not be better for our clients."

In 2018, Aon announced the development of an insurance facility providing market-leading levels of capacity ($100 million) for IP infringement liability exposures, backed by leading Lloyd's syndicates and led by Tokio Marine Kiln (TMK). Lewis previously led that effort for TMK.

This milestone opens the first phase of development for Aon's IP MGA with an IP Liability solution featuring:

  • Primary limit of indemnity of up to $100 million (€100 million)
  • Policies placed on an annual, claims-made basis that can include coverage for contractual indemnities to customers/licensees
  • Coverage options for third-party infringement defense, including certain litigation costs, damages and loss mitigation
  • Coverage that can be underwritten on a comprehensive portfolio or selected products/IP basis inclusive of patents
  • Coverage automatically includes suits from competitors, Patent Assertion Entities (PAEs), Non-Practicing Entities (NPEs) and copyright trolls
  • Coverage available with worldwide territorial and jurisdictional limits
  • Coverage option for Trade Secret Misappropriation
  • Target markets include businesses of all sizes from SMEs to multi-national corporations in North America, Europe, Australia, New Zealand and parts of Asia

"Having worked with Aon's IP Solutions data analytics, risk modelling and due-diligence teams over the past few years from the insurer side, I know that our ability to provide enhanced product solutions, with improved rating supported by robust underwriting, is unrivalled," said Lewis, Global Head of IP Underwriting Solutions at Aon.

About Aon
Aon plc  (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

Follow Aon on Twitter and LinkedIn.
Stay up to date by visiting the Aon Newsroom and hear from Aon's expert advisors in The One Brief.
Sign up for News Alerts here.

Media Contact:
Michael V. Marinello, +1 917 683 8610, Michael.Marinello@aon.com

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/aon-announces-mga-featuring-the-worlds-largest-capacity-for-intellectual-property-liability-risks-301056053.html

SOURCE Aon plc

Stock Quote: NYSE

Price 200.20

Change +2.21

Volume 1,592,033

% Change +1.12%

Intraday High 204.40

52 Week High 238.19

Intraday Low 199.46

52 Week Low 143.93

Today's Open 204.40

Previous Close 197.99

Jun 05, 2020 04:00 PM Pricing delayed 20 minutes
Latest Annual Report

Email Alerts

Email Address *
Mailing Lists *





 
Enter the code shown above.

Contact Information

200 East Randolph
Chicago, IL 60601
Phone: (312) 381-3310

Email