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International Claim Hotspots Translate Domestically

Daily events and reports prove that, in today's world, a global economy binds us all -- for better or worse. Therefore, when broker firm Aon recently released list of emerging claim issues in the UK,

By Eric Gilkey | Updated on January 05, 2009

Daily events and reports prove that, in today’s world, a global economy binds us all — for better or worse. Therefore, when broker firm Aon recently released list of emerging claim issues in the UK, it was not hard to draw parallels to the U.S. “2008 was characterized by the rapid onset of a major global recession and the impact is spreading in terms of claims trends in 2009,” said John Bell, head of claims for Aon’s commercial insurance team. “There is a growing possibility that any financial loss may be pursued against directors who are considered to be at fault and individuals are less well off so may be tempted to make fraudulent claims. However, this comes at a time when insurers are less inclined to take a sympathetic view to paying even legitimate claims.”

Below are five claim “hotspots” as designated by Aon. The company said that these issues will test the adequacy of policy coverage and the willingness of UK insurers to pay claims for the emerging and potentially costly issues. U.S. companies would do well to heed the predictions, too.

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