Fluidity of Technology Development and Deployment Provides Business Opportunity While Creating Unexpected Risk

CHICAGO, June 14, 2011 /PRNewswire/ -- Constant change in the development and use of technology is posing greater risk while offering increased opportunity to technology and communications companies, finds the 2011 Technology and Communications U.S. Industry Report of Aon Risk Solutions, the global risk management business of Aon Corporation (NYSE: AON). The economic slowdown and increasing competition top the list, reaffirming that companies are still concerned about economic recovery and feeling pressure to obtain and retain business. The failure to innovate and meet customer needs jumped from number eight in the 2010 Technology and Communications report to the number three risk this year.

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Rounding out the Top 10 list of risks for technology and communications organizations identified by Aon's report are:

• Business interruption
• Regulatory and legislative changes
• Loss of intellectual property and data
• Failure to attract or retain top talent
• Damage to reputation and brand
• Exchange rate fluctuation
• Cyber crime

"With the rate of change seen in the technology and communications industry, it is now more important than ever for companies to recognize and plan for these top risks," said Shawn Ram, managing director of the Technology Practice for Aon Risk Solutions. "Organizations must consider the potential impact of all viable risk events and be prepared for the next catastrophe before it strikes. Failure to do so could have serious consequences. Bringing together the functions of IT, legal, finance, HR and risk management provides a valuable multi-disciplined approach to managing risk."

Additional Key Findings from Aon Risk Solutions' 2011 Technology and Communications U.S. Industry Report:

In light of the tsunami and earthquakes that hit Japan, the potential impact of supply chain disruption proves very timely as a key finding from Aon's report. Technology and communications companies need to prepare for business interruption, as the threat is significant and will affect business operations quickly.

According to a recent report from Gartner, the volume of electronically stored data is growing exponentially and expected to increase by 300 times by 2020. This will further complicate corporate network security and the risk of privacy breach, which will pose an even greater risk to businesses in the coming year.

"Cyber crime, which includes security and privacy breaches, continues to be a significant threat to companies across all industries," said Kevin Kalinich, co-national managing director of the Financial Services Group at Aon Risk Solutions. "Technology is driving the growth and success of businesses, but asset protection and awareness of the greatest risks for companies will ensure continued achievement."

A healthy level of confidence in the technology and communications sector is being further manifested through growth in mergers and acquisitions, IPO and venture capital activity. With this increase, organizations need to consistently evaluate their risk profiles and adjust their risk management programs accordingly.

To download the report, visit http://www.aon.com/technology-2011report.

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About Aon

Aon Corporation (NYSE: AON) is the leading global provider of risk management services, insurance and reinsurance brokerage, and human resources solutions and outsourcing. Through its more than 59,000 colleagues worldwide, Aon unites to deliver distinctive client value via innovative and effective risk management and workforce productivity solutions. Aon's industry-leading global resources and technical expertise are delivered locally in over 120 countries. Named the world's best broker by Euromoney magazine's 2008, 2009 and 2010 Insurance Survey, Aon also ranked highest on Business Insurance's listing of the world's insurance brokers based on commercial retail, wholesale, reinsurance and personal lines brokerage revenues in 2008 and 2009. A.M. Best deemed Aon the number one insurance broker based on revenues in 2007, 2008 and 2009, and Aon was voted best insurance intermediary 2007-2010, best reinsurance intermediary 2006-2010, best captives manager 2009-2010, and best employee benefits consulting firm 2007-2009 by the readers of Business Insurance. Visit http://www.aon.com for more information on Aon and http://www.aon.com/manchesterunited to learn about Aon's global partnership and shirt sponsorship with Manchester United.

SOURCE Aon Corporation