Aon Re, Inc. Adds Earthquake Viewing Guide to Catastrophe Modeling Products
18 Aprile 2006 - 6:55PM
PR Newswire (US)
CHICAGO, April 18 /PRNewswire-FirstCall/ -- Following the success
of the Hurricane Viewing Guide, which was utilized by insurers
during the 2004 and 2005 hurricane seasons, Aon Re has developed a
comprehensive Earthquake Viewing Guide. The viewing guide provides
a range of potential loss outcomes based on possible earthquake
events throughout the United States. The guide provides exposure
summaries and probable maximum-loss outcomes for given ranges of
magnitudes in earthquake-prone regions. (Logo:
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO ) With this
tool, insurance companies can now utilize a unique methodology to
assess earthquake loss potential. The Earthquake Viewing Guide can
also assist in making decisions regarding exposure accumulation,
reinsurance capacity decisions and capital utilization. Said
Jeremiah Konz, vice president and managing director, Aon Re
Services: "Throughout the 2004 and 2005 hurricane seasons, clients
utilized our Hurricane Viewing Guide as storms approached the
United States coastline to quickly and easily determine potential
loss scenarios without having to re-run catastrophe models. The
resounding success of the Hurricane Viewing Guide has had numerous
insurers clamoring for a similar product for the earthquake peril."
Said Dan Dick, executive vice president, Aon Re Services: "The
beauty of the Earthquake and Hurricane Viewing Guides is that they
utilize the potential loss severity as determined by the various
catastrophe models, but remove the underlying frequency. This
allows the user of the guide to make decisions, not based on the
subjective probability provided by a modeling firm, but rather by
determining how severe the loss could be given a certain event
occurs. The past two hurricane seasons have put the various
catastrophe models under a lot of scrutiny. These guides remove one
of the largest areas of model uncertainty from the equation, event
frequency. We are excited to be able to provide such a valuable
product to our clients." About Aon Aon Corporation (NYSE:AOC) (
http://www.aon.com/ ) is a leading provider of risk management
services, insurance and reinsurance brokerage, human capital and
management consulting, and specialty insurance underwriting. There
are 47,000 employees working in Aon's 500 offices in more than 120
countries. Backed by broad resources, industry knowledge and
technical expertise, Aon professionals help a wide range of clients
develop effective risk management and workforce productivity
solutions. For more information, contact: Al Orendorff, Aon Corp.,
312.381.3153, Or Thaddeus Woosley, Aon Corp., 312.381.2446, This
press release contains certain statements related to future
results, or states our intentions, beliefs and expectations or
predictions for the future which are forward-looking statements as
that term is defined in the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from either historical or anticipated results
depending on a variety of factors. Potential factors that could
impact results include: general economic conditions in different
countries in which we do business around the world, changes in
global equity and fixed income markets that could affect the return
on invested assets, fluctuations in exchange and interest rates
that could influence revenue and expense, rating agency actions
that could affect our ability to borrow funds, funding of our
various pension plans, changes in the competitive environment, our
ability to implement restructuring initiatives and other
initiatives intended to yield cost savings, our ability to execute
the stock repurchase program, changes in commercial property and
casualty markets and commercial premium rates that could impact
revenues, changes in revenues and earnings due to the elimination
of contingent commissions, other uncertainties surrounding a new
compensation model, the impact of investigations brought by state
attorneys general, state insurance regulators, federal prosecutors,
and federal regulators, the impact of class actions and individual
lawsuits including client class actions, securities class actions,
derivative actions, and ERISA class actions, the cost of resolution
of other contingent liabilities and loss contingencies, and the
difference in ultimate paid claims in our underwriting companies
from actuarial estimates. Further information concerning the
Company and its business, including factors that potentially could
materially affect the Company's financial results, is contained in
the Company's filings with the Securities and Exchange Commission.
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO
http://photoarchive.ap.org/ DATASOURCE: Aon Corporation CONTACT: Al
Orendorff, +1-312-381-3153, or , or Thaddeus Woosley,
+1-312-381-2446,, or , both of Aon Corporation Web site:
http://www.aon.com/
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