@Risk

Just last week, I wrote about Aon Corporation’s 2009 Defense Industry Benchmarking Report.

Now, the company is in the news again with the release of its first U.S. Quarterly Market Overview for Property, Casualty, and Directors’ and Officers’ Lines.

Aon, one of the world’s leading providers of risk management services, hopes companies will use trend data identified in the report to support informed decision-making in risk management.

“In this difficult economic climate, it has never been more critical to an organization’s overall health and performance to have an effective risk management program in place,” says Warren Mula, chairman of U.S. retail for Aon Risk Services.

I agree. And, in today’s global, complex, and ultra-competitive marketplace, it’s vital to incorporate the most up-to-date data in your risk management strategies.

Here are a few highlights from the 16-page report:

• Property – Compared to a tumultuous 2008, results for the Property Insurance Market in the first half of 2009 have been mostly positive with higher prices and low losses. According to the report, insureds should expect renewed competition and modest downward pressure on rates into 2010.

• Casualty – Overall, the Soft Casualty Market has experienced rate decreases. The  notable exception here is primary automobile, which saw an increase of <1% in Q2 ’09, the first increase in on any casualty line in several years.  Aon expects Soft Market Casualty conditions to continue in 2010.

• Directors’ and Officers’ Liability – Among financial institutions it has become difficult to place risk, and Aon has seen claims activity and rate increases across all segments. However, D&O liability in all other sectors continues to be competitive, with rates trending down.

The full report is available for download at http://insight.aon.com/?elqPURLPage=4625 (registration required).