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Article: Doing away with "named location" risk on environmental policies: executive pushes for holistic coverage of environmental risk at financial institutions with a little help from Aon and AIG.(RISK & INSURANCE[R] RISK INNOVATORS: FINANCIAL INSTITUTIONS & SERVICES)
- Article from:
- Risk & Insurance
- Article date:
- September 15, 2008
- Author:
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Three years ago, Merrill Lynch's Director, Global Insurance & Risk, Ash Kilada, recently promoted to the position of first vice president, saw a need for global environmental insurance coverage that went beyond being location specific.
Ash became instrumental in the development of a new-to-market environmental insurance product called Aon Environmental Edge. "If Ash hadn't pushed this so hard it wouldn't nave happened," said an executive close to the development of the product.
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Developed in conjunction with AIG, the product was designed to address the diverse risks of a financial institution, including lender's ...