Aon Unveils New Environmental Program

Aon Corporation announced the availability of Aon Environmental Edge(SM), a customizable program and the first of its kind to provide global coverage for environmental exposures with limits up to $300 million for the most complicated risks. Once assessed, environmental liability is strict, joint and retroactive; there is no statute of limitations. Environmental liability survives bankruptcy as well as dissolution of the liable entity. Unlike typical environmental insurance policies, Aon Environmental Edge reportedly encompasses legal liability protection across the board and around the world, without the need for scheduling specific locations or activities. Corporations have reportedly long-enjoyed a false sense of security created by the "innocent lender" legal protection status and the protection of individual assets by corporate veil, or limited liability protection. Aon Environmental Edge reportedly helps fill the gaps in general liability and directors' and officers' policies, rendering obsolete these insufficient umbrellas of security. Structured to respond in the event the corporate veil is pierced, Aon Environmental Edge imparts a broad insuring agreement for third party claims arising from environmental conditions alleged to be caused by an insured entity. Additionally, the program reportedly manages this risk in a cost-effective manner, all on a single policy.