Aon sees about 74% taking settlement offer

By Sally Roberts
Business Insurance
December 20, 2005


Aon Corp. has restated details about the extent of client participation in its $190 million compensation fund established as part of its contingent commission settlement.

According to figures released Tuesday by the Chicago-based brokerage, 74% of the fund, which represents about $140 million, will be distributed to clients that have elected to participate in the settlement.

Last week, an Aon spokesman incorrectly informed Business Insurance that 70% of the 352,000 settlement offers it has made to clients had been accepted, with some clients receiving multiple offers. Aon will not say how many clients or what proportion of the offers were accepted overall, though it stated that 90% of its “top 1,000” clients accepted distribution from the fund.
 

Copyright © 2006 Crain Communications, Inc.


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