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Transaction Solutions Global Claims Study 2023

Based upon Aon’s proprietary global claims data, this study examines emerging trends with respect to claim size, frequency, and severity on policies placed in North America, Europe, Middle East, and Africa (EMEA) and Southeast Asia and Pacific (APAC). In addition, 18 insurers participated in our North American Insurer Survey, increasing industry participation over last year and providing even more clarity on the state of claims in the North American market.

Highlights include:

  • In North America, Aon clients have filed more than 800 total claims on R&W policies since 2013. Of those claims, 33% settled within the policy’s retention, 15% resulted in payment by the insurer, 34% remain active, 14.5% are inactive, and 3.5% have been denied.
  • Through the end of 2022, R&W insurers have paid more than $820m to Aon clients in North America and recognized more than $1.1b in total loss (including retention amounts).
  • More than $245m has been paid to Aon clients on claims filed more than 12 months post-close of the transaction.
  • Through 2022, insurers paid more than $95m to Aon clients on W&I claims in EMEA, with $35m paid since our last publication.
  • Aon Australia and New Zealand saw claims notified on an average of 20% of the W&I policies placed from 2012-2022.