Internet Ruling Poses New Risk Management Challenges: Aon Expert
June 14 2007 - 11:00AM
PR Newswire (US)
CHICAGO, June 14 /PRNewswire/ -- Last week's admission by the
National Weather Service that one of its sites used to track severe
weather was compromised may be the prelude to a storm of another
kind for Web sites providing user-generated content, according to
an Aon technology expert. (Logo:
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO ) A series
of phony weather alerts were sent this spring to the Weather
Service site used by meteorologists to track the movement of severe
storms. Kevin Kalinich, co-national managing director of Aon's
Financial Services Group, says the 9th U.S. Circuit Court of
Appeals recently ruled that Web sites can now be held at least
partially responsible for some user-generated content. The ruling
came as a result of a lawsuit filed against a Web site that was
found liable for discriminatory postings. Kalinich says the new
ruling means that sites that control user-generated content may be
considered publishers and held liable despite the protections of
the Digital Millennium Copyright Act, which poses new risk
management challenges for the managers of those sites. He says,
"The question becomes, 'should a site have a better oversight
process?' Site managers may now be tasked to find a generally
acceptable standard." In the past, Kalinich says, liability has
been determined in part by what is called the "Reasonable Person"
test, which asks what risk mitigation standards would a rational
person accept as practical and appropriate. However, Kalinich says
as user-generated content becomes more sophisticated and users
become increasingly adept at site management, risk managers may no
longer be able to rely on the broad parameters of the 'reasonable
person' test as they evaluate risks posed to clients offering
information on the Net. "These are questions no one has asked
before," he says. "Now we have to find answers that work for
everybody." 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 43,000 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. This press release
contains certain statements related to future results, or states
our intentions, beliefs and expectations or predictions for the
future which are forward-looking statements as that term is defined
in the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially
from either historical or anticipated results depending on a
variety of factors. Potential factors that could impact results
include: general economic conditions in different countries in
which we do business around the world, changes in global equity and
fixed income markets that could affect the return on invested
assets, fluctuations in exchange and interest rates that could
influence revenue and expense, rating agency actions that could
affect our ability to borrow funds, funding of our various pension
plans, changes in the competitive environment, our ability to
implement restructuring initiatives and other initiatives intended
to yield cost savings, our ability to execute the stock repurchase
program, potential regulatory or legislative changes that would
affect our ability to sell, and be reimbursed at current levels
for, our Sterling subsidiary's Medicare health product, changes in
commercial property and casualty markets and commercial premium
rates that could impact revenues, changes in revenues and earnings
due to the elimination of contingent commissions, other
uncertainties surrounding a new compensation model, the impact of
investigations brought by state attorneys general, state insurance
regulators, federal prosecutors, and federal regulators, the impact
of class actions and individual lawsuits including client class
actions, securities class actions, derivative actions, ERISA class
actions, the impact of the analysis of practices relating to stock
options, the cost of resolution of other contingent liabilities and
loss contingencies, and the difference in ultimate paid claims in
our underwriting companies from actuarial estimates. Further
information concerning the Company and its business, including
factors that potentially could materially affect the Company's
financial results, is contained in the Company's filings with the
Securities and Exchange Commission. Media Contact: Al Orendorff
1.312.381.3153
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO DATASOURCE:
Aon Corporation CONTACT: Al Orendorff of Aon Corporation,
+1-312-381-3153, Web site: http://www.aon.com/
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