Product Family

Will deliver enhanced large batch event coverage to clients

Aon Risk Solutions, the global risk management business of Aon plc (NYSE: AON), and XL Group’s Bermuda Insurance Operations, XL Insurance (Bermuda) Ltd (“XLIB”), announced today a new stand-alone integrated occurrence product called Catastrophic Integrated Occurrence or CAT IO. With up to $50 million of capacity, this product is designed to provide catastrophe coverage in the event of a large batch (integrated occurrence) event. This product is a result of collaboration between the health care practices of Aon and XLIB in an effort to address the needs of health care industry clients.

By basing CAT IO on the Bermuda XL 004 form, which has a proven history with respect to integrated occurrence claims, the new product will provide risk managers within the health care industry additional coverage for catastrophic claims.

"There have been an extraordinary number of batch incidents over the past few years in the health care industry due to clinical integration, which have come to light because of greater transparency and improved reporting mechanisms," says Annie Sousa, senior vice president with Aon Risk Solutions’ Broking Center in Bermuda. "This product, as a continuous policy, will allow a client to group together a series of related incidents, which often extend over considerable periods of time, into a single integrated occurrence, subject to one self-insured retention, helping to insure the health care system from a catastrophic batch event."

Carla Greaves, senior vice president, Chief Excess Casualty Underwriter, and Wesly Guiteau, senior vice president, Underwriting Manager, Healthcare at XLIB agree that XL-004 Policy Form offers a much broader level of batch coverage than the typical Claims Made and Captive Forms utilized for health care insurance programs.

“The XL-004 Policy Form Integrated Occurrence feature has been tested and has proven to respond effectively to health care risks. In fact, 70 percent of health care claims paid by XLIB have been on the basis of integrated occurrences,” notes Greaves.

There are various options for integrating CAT IO into a casualty insurance or reinsurance program:

-- Top up: CAT IO sits on top of the current program, providing pure catastrophe cover in the event of a large batch claim.
-- Difference in Condition: Excess and DIC of current tower, the integrated occurrence language will drop down DIC to the required level to pick up coverage where the underlying batch coverage in place does not.
-- WRAP: Will sit alongside current single occurrence program and wrap the selected layer of coverage which does not contain any coverage for integrated occurrences
-- Cloud Cover: A single limit sitting anywhere above the current hospital and physician professional liability program tower as pure catastrophe cover. This product does not need to be placed directly excess of the current program, but rather, can sit at whatever excess attachment point that meets with the specific client’s needs and comfort level.

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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 65,000 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 for more information on Aon and to learn about Aon’s global partnership and shirt sponsorship with Manchester United.

About XL Group plc’s Insurance Operations
XL Group plc’s insurance companies offer property, casualty, professional and specialty insurance products globally. Businesses that are moving the world forward choose XL as their partner. To learn more, visit

About XL Group plc
XL Group plc (NYSE:XL), through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. XL is the company clients look to for answers to their most complex risks and to help move their world forward. Its principal offices are located at XL House, 8 St. Stephen’s Green, Dublin 2, Ireland. To learn more, visit

XL Group is the global brand used by XL Group plc’s insurance and reinsurance subsidiaries.