BELLINGHAM, Wash., Sept. 24 /PRNewswire-FirstCall/ -- Sterling Life Insurance Company, a subsidiary of Aon Corporation (NYSE: AOC), announced today that it has received approval from the Centers for Medicare & Medicaid Services (CMS) to resume marketing its non-group Medicare Advantage private-fee-for-service (PFFS) plans. This announcement follows the statement by CMS that the agency has completed its review and determined that Sterling Life Insurance has demonstrated accelerated compliance with 2008 CMS marketing requirements.
"Sterling is an organization that takes great pride in our reputation for trustworthiness with America's seniors," said Debbie Ahl, president, Sterling Life Insurance Company. "We fully support the acceleration of compliance with 2008 requirements. Our primary goal is to best serve Medicare beneficiaries. We take that responsibility very seriously."
Sterling Life Insurance will immediately resume marketing for beneficiaries eligible to enroll, and is prepared to begin 2008 marketing on schedule.
About Sterling Life Insurance Company
Sterling Life Insurance Company is the seventh largest insurer with respect to the number of enrollees in a Medicare Advantage private-fee-for- service plan, and was the first plan approved by CMS to offer such a product in 2000.
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, 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, derivatives actions, and ERISA class actions, 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.
|SOURCE Aon Corporation|
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