Aon Corp. launches new risk transfer service
transfer service which allows companies for the first time to secure blanket protection in excess of $100 million to recover intellectual property assets.
Aon Corporation, a leader in innovative risk management services with a family of insurance brokerage, consulting and underwriting subsidiaries, said this new market reflects the growing importance of intellectual property and other intangible assets such as patents, trademarks and copyrights.
For example, patent-licensing revenues are expected to exceed $500 billion by 2005, up from $100 billion in 1998.
"The spectrum of business risk is expanding and changing quickly,'' said Patrick G. Ryan, chairman and CEO of Aon Corporation.
"Companies are realising that their overall risk profile is shifting from hard assets -- property, plants and equipment -- to so-called intangible assets, such as patents and copyrights.
"The issue of how to protect intellectual property is now a pre-eminent concern among CEOs.''