SEPOY.net
No Result
View All Result
Wednesday, June 18, 2025
  • Home
  • News
  • Business
  • Health
  • Tech
  • Lifestyle
  • Economy
  • Crypto
  • Travel
  • Home
  • News
  • Business
  • Health
  • Tech
  • Lifestyle
  • Economy
  • Crypto
  • Travel
No Result
View All Result
SEPOY.NET
No Result
View All Result
Home Business

Aon releases transaction insurance claims report

Nicholas by Nicholas
July 26, 2022
in Business
0



Aon has announced the release of its Transaction Insurance Claim Study, an industry-wide look at activity in the transaction insurance space in North America and Europe, the Middle East and Africa (EMEA).

READ ALSO

B.C.’s biggest wildfire classified as ‘being held’ thanks to recent rain

What U.S. weather agency cuts mean for P&C

Last year, Aon’s M&A and Transaction Solutions team in North America placed more than 1,000 representations and warranties (R&W), tax and contingent liability insurance policies, the company reported. The company helped clients navigate nearly 100 new claims and an even higher number of existing claims that were working toward resolution during the year. The volume of claims was slightly lower than in 2020. However, early data from 2022 suggest that claims are returning to historic frequency levels.

Highlights of the report include:

  • Since 2013, Aon clients have filed more than 600 total claims on R&W policies. Of those, 21% settled within the policy’s retention, 14% resulted in payment by the insurer, 49% remain active, 12% are inactive and 4% have been denied
  • Insurers reported that 31% of claim payments last year were based on a multiple, up from 24% in 2020
  • Insurers have paid more than $60 million to Aon clients on warranty and indemnity policy claims in EMEA
  • Through 2021, R&W insurers paid more than $560 million to Aon clients in North America
  • 19% of policies issued between 2015 and 2019 have had at least one claim made

Last year, Aon’s study highlighted that while the global COVID-19 pandemic impacted the R&W business, leading to many transactions being put on hold in Q2 and Q3 2020, claims volume remained unaffected. However, this year’s report noted that the slowdown in deal placement in mid-2020 may have resulted in a delayed impact on claims volume last year.

Read next: Aon reveals “near-perfect storm” experienced by reinsurance buyers

“With a heavy skew toward Q4 placements in 2020, the overall distribution of policies was not as mature as in a typical year and could account for the slight reduction in new claims filed in 2021,” Aon said. “However, early data from 2022 suggests this may have been just a temporary lull as claims volume appears to be returning to historic levels.”

Aon said the report also found the claims process continuing to evolve.

“Insurers and their consultants consistently refine their own internal process, focusing on claim details around breach and digging into the basis around loss calculation,” Aon said. “Despite some additional diligence, we note that insurers continue to act in a commercial and reasonable manner as good partners to Aon clients, with claims resulting in fair and successful resolutions.”

Tags: AonM&Atransaction insurance

Related Posts

B.C.’s biggest wildfire classified as ‘being held’ thanks to recent rain
Business

B.C.’s biggest wildfire classified as ‘being held’ thanks to recent rain

June 17, 2025
What U.S. weather agency cuts mean for P&C
Business

What U.S. weather agency cuts mean for P&C

June 16, 2025
Policy lapse? Why this auto renewal slip-up wasn’t the broker’s fault
Business

Policy lapse? Why this auto renewal slip-up wasn’t the broker’s fault

June 16, 2025
What pending Canada Post union vote means for commercial insureds
Business

What pending Canada Post union vote means for commercial insureds

June 16, 2025
GUS Clarifies Its Identity to Better Reflect Its Mission
Business

GUS Clarifies Its Identity to Better Reflect Its Mission

June 16, 2025
Some 30% more Quebec homes to be in flood zones when new mapping takes effect
Business

Some 30% more Quebec homes to be in flood zones when new mapping takes effect

June 16, 2025
Next Post

Feeling Stuck? Here’s How to Motivate Yourself in 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About

Sepoy.net is a perfect place for people who want daily updates on news related to business, technology, entertainment, health, cryptocurrency etc.

Contact: hello@sepoy.net

Major Categories

News

Business

Tech

Economy

 

Recent Posts

  • fifty 100 percent free Revolves No deposit Put Expected Best Gambling establishment Web sites within the 2025
  • Top-Ranked A real mostbet partner login sign up income Gambling enterprise Web sites For people People
  • UniversalSlots Praxis UniversalSlots Boni abzüglich Einzahlung unter anderem Freispiele inoffizieller mitarbeiter Jahr 2025

Pages

  • About Us
  • Contact Us
  • Disclaimer
  • DMCA
  • Home
  • Privacy Policy

© 2023 Sepoy.net

No Result
View All Result
  • Home
  • Business
  • News
  • Health
  • Tech
  • Science
  • Lifestyle
  • Travel

© 2023 Sepoy.net