CHICAGO, Oct. 10 /PRNewswire-FirstCall/ -- Aon Corporation today announced that key general liability insurance markets in Bermuda have for the first time agreed to accept a single excess follow form from Aon, providing Aon clients with greater contract certainty, clarity and consistency among carriers. The Bermuda Shorts Form is acceptable for both occurrence and claims-made business and offers flexibility to deal with punitives in various scenarios.
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"Aon and Endurance Specialty have been working closely over the past year to achieve this important milestone," said Karen White Lawson, executive vice president of Aon Bermuda Ltd. "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, currently available to Aon clients through Endurance Specialty Insurance Ltd., Arch Insurance Bermuda and Canopius Underwriting Bermuda, includes no buried exclusions and takes into consideration Bermuda-specific issues, such as arbitration, state-specific endorsements, liberalization and sublimits.
Joe Rego, president and chief operating officer of Aon Bermuda Ltd., 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."
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 About Aon
Aon Corporation is the leading global provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting. Through its 36,000 colleagues worldwide, Aon readily delivers distinctive client value via innovative and effective risk management and workforce productivity solutions. Our industry-leading global resources, technical expertise and industry knowledge are delivered locally through more than 500 offices in more than 120 countries. Aon was named the world's best broker by Euromoney magazine's 2008 Insurance Survey. In 2008, Aon ranked highest on the Business Insurance ranking of the world's largest insurance brokers based on commercial retail, wholesale, reinsurance and personal lines brokerage revenues. Aon also was ranked by A.M. Best as the number one insurance broker based on brokerage revenues in 2007 and 2008, and was voted best insurance intermediary, best reinsurance intermediary, and best employee benefits consulting firm in 2007 and 2008 by the readers of Business Insurance. For more information on Aon, log onto http://www.aon.com/.
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