LONDON, 26 May 2005 – The UK Market Charitable Trust, set up by the insurance industry following the 9/11 tragedy, is hosting a ‘first of its kind’ educational programme for two New York insurance students.  The undergraduates will use the opportunity in June to research the UK market and report on their observations from a US perspective.

Following the terrorist attacks of 11 September 2001, the Trust was established by major UK players including, amongst others, Allianz, Aon, Beazley, Hiscox, JLT, Marsh, Royal & SunAlliance, Zurich, Lloyd’s and CII, with the intention to give something back to the American insurance industry by helping to invest in its future.  Fundraising over the last four years has enabled the market initiative to begin the implementation of their objective to help educate the grass roots of the industry.

Two undergraduates from St John’s University’s School of Risk Management, Insurance and Actuarial Science, Allah Jackson and Marco Perci, have been selected for funded bursaries. Their month-long programme is themed around the differences and similarities between the workflow and processes of insurance companies, brokers and Lloyd’s.

It will focus on comparing the underwriting, pricing and claims processes between composite insurers and Lloyd’s syndicates; the brokers’ approach to product development and services for clients, plus changing insurer relationships across the domestic market and wholesale brokerage; and the history of Lloyd’s, its current role in today’s industry and participation in a global market.

John Turner, divisional chairman within Aon, who is hosting the programme in 2005, said: “This is a unique initiative where the industry’s leading players have rallied together to achieve something positive out of such a tragic event. Being the first year, we have a great opportunity to set a precedent and offer undergraduates a fascinating insight into our market and culture. We are already looking to double the number of students for next year.”

Maureen Furlong Weber, marketing & industry relations director at St John’s University, added: “In return for giving our students an enlightening experience, we hope to thank and benefit the UK industry by offering an interesting, outsider’s perspective on your unique market. As newcomers to the industry, the students will bring a fresh point of view to the marketplace.”

The students’ assignments will examine changes in the UK insurance market since 2002 and make recommendations on the efficiency of market processes.

Notes for Editors

About Aon 

Aon Corporation (http://www.aon.com) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. There are 47,000 employees working in Aon's 500 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions.

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