UNITED STATES
SECURITIES AND EXCHANGE COMMISSION 
 Washington, D.C. 20549

 
FORM 8-K
 
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported): October 22, 2004

 
Aon Corporation 
 (Exact Name of Registrant as Specified in Charter)

Delaware	 	1-7933	 	36-3051915	
(State or Other Jurisdiction
of Incorporation)	 	(Commission File Number)	 	(IRS Employer
Identification No.)	
 	 	 	 	 	
200 East Randolph Street, Chicago, Illinois	 	60601	
(Address of Principal Executive Offices)	 	(Zip Code)	
 
Registrant’s telephone number, including area code: (312) 381-1000
 
Not Applicable
 (Former Name or Former Address, if Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):
 
o                                     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o                                     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o                                     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o                                     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
Item 8.01.  Other Events.
 
On October 22, 2004, Aon Corporation (the “Company”) issued a press release announcing that it will eliminate its practice of accepting contingent commissions from underwriters.
 
A copy of the Press Release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
 
Item 9.01. Financial Statements and Exhibits.
 
(a)—(b)    Not applicable.
 
(c)            Exhibits:

Exhibit
Number	 	Description of Exhibit	
 	 	 	
99.1	 	Press Release issued by the Company on October 22, 2004.	
 
2

 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 	Aon CORPORATION	
 	 	
 	By:	/s/ David P. Bolger	 	
 	 	David P. Bolger	
 	 	Executive Vice President, Chief Financial Officer and
Chief Administrative Officer	
 	 	 	
Date: October 25, 2004	 	 	
 
3

 
EXHIBIT INDEX

Exhibit
Number	 	Description of Exhibit	
 	 	 	
99.1	 	Press Release issued by the Company on October 22, 2004.	
 
4

Exhibit 99.1
 
Aon Eliminates Contingent Commissions;
CEO Calls for New Approach
 
CHICAGO – October 22, 2004 – Aon Corporation (NYSE: AOC) today announced that it is eliminating its practice of accepting contingent commissions from underwriters.
 
Patrick G. Ryan, chairman and CEO, said, “Because trust and client satisfaction are top priorities for all of us at Aon, we are discontinuing a practice that has created enormous controversy and confusion.  We cannot permit even the slightest impression of a conflict between acceptance of these commissions and our paramount obligations to our clients.”
 
Contingent commissions are non-service-specific, volume- or profit-based compensation arrangements.  The practice of contingent commissions developed over several decades as a means of compensating insurance intermediaries for services provided on behalf of insurers.
 
The company said that it will provide more detail on contingent commissions and other compensation for services to underwriters in its upcoming third quarter earnings release and conference call.  Earnings will be released after the market close on Thursday, October 28, with a conference call scheduled for 10 a.m. central time on Friday, October 29.   The webcast can be accessed at www.aon.com.
 
Mr. Ryan added, “We will work closely with insurance carriers, regulators and other constituencies to establish a new business model that ensures appropriate linkage of compensation to specific, measurable services in a way that is transparent, accepted and understood by our clients.  We provide important services on behalf of underwriters; however, certain current compensation models must change.”
 
Aon has begun winding down contingent commission agreements and expects to complete the process by the end of 2004.
 
About Aon
 
Aon Corporation (www.aon.com) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. The company employs approximately 51,000 professionals in its 600 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 relating to future results, 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 the general economic conditions in different countries around the world, fluctuations in global equity and fixed income markets, exchange rates, rating agency actions, resolution of regulatory issues, including those related to compensation arrangements with underwriters, pension funding, ultimate paid claims may be different from actuarial estimates and actuarial estimates may change over time, changes in commercial property and casualty markets and commercial premium rates, the competitive environment, the actual costs of resolution of contingent liabilities and other loss contingencies, and the heightened level of potential errors and omissions liability arising from placements of complex policies and sophisticated reinsurance arrangements in an insurance market in which insurer reserves are under pressure.  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.
 
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Investor   Contact:	Julie   Ann  Kotowski	 	
 	Investor   Relations	 	
 	(312) 381-3318	 	
 	 	 	
Media Contact:	Gary   Sullivan	 	
 	Corporate   Communications	 	
 	(312) 381-2467