Aon launches Flood Secure, an insurance facility providing replacement coverage for organizations that suffered flood-related c

CHICAGO, Nov. 6, 2012 /PRNewswire/ -- In the wake of Post-tropical Cyclone [ Sandy ], [ Aon Risk Solutions ], the global [ risk management ] business of [ Aon ] plc (NYSE: [ AON ]), announced today that it created Flood Secure, a new insurance facility providing replacement coverage to U.S. organizations that have impaired aggregated flood limits on their property policy.

(Logo: [ http://photos.prnewswire.com/prnh/20100719/AQ37264LOGO ])

Flood Secure reinstates exhausted or eroded flood limits of liability to help ensure organizations have replacement coverage for subsequent events. Coverage will match existing policy wording and provide immediate reinstatement of a client's impaired flood limit, including high hazard flood zones, for up to $25 million for any one occurrence/reinstatement term aggregate limit of liability. Additional limits of liability are available. The facility provides pro-rata pricing for reinstated limits and terms of less than 12 months for major commercial property programs that will renew between January and June 2013.

"Flood coverage is one of the few aggregated limits found on most property policies," said [ Rick Miller ], chief broking officer, Aon Risk Solutions' U.S. Property Practice. "Many insureds have potentially impaired aggregates as a result of [ Sandy ]. Flood Secure will provide coverage for all flood zones backed by the security and stability of Lloyd's of London. While organizations may be unsure how their insurance flood limits will be impacted at this time, the facility is here to help ease that concern and provide another option for future coverage."

Flood Secure is not intended as a replacement for [ National Flood Insurance Program ] coverage. Clients should consult their policy for actual details of the replacement coverage.

Stay up to date with Sandy-related developments: [ http://www.aon.com/situationroom ]
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About Aon
[ 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 ].

Media Contacts:
Cybil Rose
+1.312.755.3537
[ cybil.rose@kemperlesnik.com ]

SOURCE Aon plc

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Aon launches Flood Secure, an insurance facility providing replacement coverage for organizations that suffered flood-related c