Aon Forms Captive MGU

Aon Forms Captive MGU

Aon ARU group captive solutions are aimed principally at private companies or closely held public companies that have a better-than-average loss experience, solid financial condition, and pay multiline premium between $200,000 and $2 million, the Chicago-based insurance broker said.

Working through independent agents and brokers, the captives would be all member-owned group captives, not single-parent or rent-a-captive programs.

Aon ARU coverages can include primary casualty lines of business, workers' compensation, general and product liability, and commercial auto. Other coverages, such as commercial property and business interruption and directors & officers, can also be considered, typically after casualty coverages are established, Aon said.

Group captive formation requirements include six to 12 qualified insureds with good historical loss and exposure information, which generate $5 million or more in premium.

Christopher R. Payne, Aon ARU president, noted that a captive solution has potential application in a variety of business segments, including transportation, manufacturing and distribution, agribusiness, food wholesalers, equipment dealers, and construction.