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Aon Benfield

Insurance, United States, Illinois, Chicago

Aon Benfield is a leading global reinsurance intermediary and capital advisor, known for its expertise in risk assessment, strategic advisory, and catastrophe modeling.

About Aon Benfield

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Basics

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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
United States of America, Illinois state
Official Website
http://www.aonbenfield.com
Location Address Official Phone Email
United States of America, Illinois state United States, Illinois, Chicago **** ****
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FAQs – Aon Benfield

How do regulatory bodies oversee treaty reinsurance?

Regulatory bodies ensure treaty reinsurance agreements comply with solvency standards, financial reporting rules, and consumer protection laws. In many jurisdictions, reinsurers must be licensed and meet minimum capital requirements.


Does homeowners insurance liability cover accidents away from home?

Homeowners insurance liability coverage can extend to accidents that occur away from home if the incident is related to the homeowner’s actions. For example, an injury caused by a homeowner’s negligence in public.


Can third-party insurance cover legal expenses?

Yes, many policies include coverage for legal fees if the insured is sued by a third party for damages.


Why do insurance companies have exclusions?

Exclusions help insurers prevent financial losses by eliminating high-risk or uninsurable events. They also ensure policyholders pay fair premiums based on covered risks. Without exclusions, premiums would be significantly higher to cover all potential scenarios.


Does Usage-Based Insurance apply only to car insurance?

While UBI is most commonly associated with car insurance, there are also usage-based options for other types of insurance, like motorcycle or commercial vehicle insurance.


What is the purpose of an indemnity clause in contracts?

An indemnity clause in contracts outlines the obligations of one party to compensate the other for specific losses or damages. It is designed to transfer risk, ensuring that the indemnifying party covers financial liabilities arising from breaches, negligence, or legal disputes.


How long do short-term disability benefits last?

The duration of benefits varies by policy but usually ranges from three to six months. Some policies may extend coverage up to a year, depending on the terms of the plan.


Do underwriters look at my driving record for auto insurance?

Yes, underwriters assess your driving record to evaluate the risk of insuring you. A history of accidents or traffic violations can result in higher premiums due to the higher perceived risk.


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