Aon launches the Aon Rail Excess Liability facility, providing coverage for emerging risks arising out of impending legislation
CHICAGO – Aon Risk Solutions, the global risk management business of Aon plc (NYSE: AON), today announced the launch of Aon Rail Excess Liability facility. The insurance facility was created in response to emerging risks arising out of requirements in the Rail Safety Improvement Act of 2008 and the Federal Railroad Administration rule of 2012 involving Positive Train Control technology.
The new facility, backed by the security of Lloyd’s of London and other highly rated commercial markets, will provide up to $175 million of liability insurance to qualified buyers and is designed to sit excess of the current liability limits carried by the individual railroad subject to a minimum excess point of $25 million. The facility is open to all insureds, even if Aon did not place the underlying coverage.
“With the imminent implementation of Positive Train Control technology and the recent unfortunate events in the rail arena, Aon developed this innovative facility to respond to client interest in purchasing higher excess liability limits,” said Otis Tolbert, Aon Risk Solutions’ Rail Practice leader. “Our unmatched rail expertise and innovation will help ensure that our clients have comprehensive coverage needed for its operations and will empower results for their organization moving forward.”
For more information on the Aon Rail Excess Liability facility contact:
Otis Tolbert: firstname.lastname@example.org
Deborah Bates: email@example.com
Ian Hacker: firstname.lastname@example.org
Simon Good: email@example.com
Aon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 62,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world’s best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources. Visit www.aon.com for more information on Aon and www.aon.com/manchesterunited to learn about Aon’s global partnership and shirt sponsorship with Manchester United.
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