Tag: aon

State Farm Faces Unprecedented Claims Surge as Hurricane Beryl Breaks Records

Marc
State Farm Claims soar from hurricane damage

Hurricane Beryl Smashes Records, Unleashing Insurance Claim Surge Hurricane Beryl has left an unprecedented mark in its wake, driving State Farm to handle over 16,000 insurance claims—a record for the company. This surge in claims was set off when Beryl struck Texas, marking the first U.S. landfall of the 2024 Atlantic Hurricane season, according to a report by AM Best. The financial fallout from this historic storm is projected to reach into the billions, reflecting widespread damage to properties and vehicles across multiple states. Initially impacting the U.S. as a…

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$350M Ukraine war insurance available from Aon, Development Finance Corp

G. Turner
War Insurance - Recovery Economy - Ukraine Flag

The coverage program is designed to support capital investment and economic recovery in the country Aon and the US International Development Finance Corporation are collaborating to offer a $350 million war insurance program meant to help Ukraine with capital investment and economic recovery. The program is in two main parts The program includes $300 million in coverage for the healthcare and agriculture sectors in Ukraine, and another $50 million in war insurance, that is, additional coverage for the insurers providing protection there. The reinsurance strategy was designed in a partnership…

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McDonald’s takes down its Irish insurance company in move to Bermuda

Marc
Insurance company - McDonald's logo

The fast-food chain is moving its global coverage operation from Ireland to the North Atlantic. McDonald’s is moving its global insurance company operations out of Dublin, Ireland and to the British island territory of Bermuda in the North Atlantic. It remains in the process of winding down its Irish business, according to its recently filed accounts. The Irish insurance company unit was managed by Aon in Ireland. That insurer has managed the fast-food giant’s global insurance unit for almost three decades. By the time the entire Irish business has run…

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Insurance industry continues to see a growth in premiums

S.Vagus
US Big Data insurance industry

Insurance premiums are on the rise throughout the world Premiums in the global reinsurance and insurance industries grew last year, according to a report from Aon Benfield. The report notes that insurance premiums reached an all-time high by the end of 2013. The Property and casualty, life, and health insurance sectors were the driving forces behind the growth in premiums. Overall, global premiums grew by 0.9% last year, reaching $4.9 trillion. Insurance premiums are likely to continue growing throughout the remainder of 2014. Property casualty, life, and health insurance sectors…

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Aon Hewitt introduces new corporate health insurance exchange

Nordstrom
Group Health Insurance Exchanges

Aon Hewitt provides alternative to state-run and federal health insurance exchanges Health insurance exchanges are on their way, thanks to the Affordable Care Act, but many of the country’s small and mid-sized businesses are still concerned for what these systems could mean for them. Health insurance exchanges are designed primarily with consumers in mind, not businesses. As such, many of the concerns some businesses are having concerning the changing landscape of health insurance go unaddressed. Aon Hewitt, the human resources and health benefits consultancy division of the Aon Corporation, has…

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