Aon Risk Solutions has been removed from insuring the NATO Summit in Chicago, according to the Chicago Tribune.
The NATO host committee switched brokers to USI Insurance Services. The Tribune stated that Aon found only one carrier willing to insure police professional liability during the NATO Summit May 20 to 21.
Instead, coverage will be provided through USI Insurance Services, which already contracts the city's excess liability coverage. The Tribune claimed that the NATO committee will cover additional costs from expanding the policy's terms.
Aon marketed the coverage to 70 carriers and only one responded with a bid. “Cook County is viewed negatively from a litigiousness standpoint,” Robert Hartwig, president of the Insurance Information Institute, told the newspaper. “It is relatively litigious and plaintiff-friendly and has a history of significant jury awards.”
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
