Podcast 23 mins
Better Being Series: Understanding Burnout in the WorkplaceHow the Construction Industry is Navigating Climate Change
As the need for climate-resilient infrastructure grows, the industry contends with changes in regulations, building strategies and risk.
Key Takeaways
-
Climate-resilient building projects require strategic planning and compliance with new government regulations.
-
The construction industry can build climate resilience by rethinking its operations and choice of building materials.
-
Risk awareness and collaboration can help builders increase efficiency and keep green projects on track.
Overview
Climate change touches all areas of life, including where we live, work and socialize. Natural disasters and extreme temperatures are destroying some structures and making others uninhabitable, resulting in staggering personal and economic loss: in 2022, extreme weather events caused more than $165 billion in damages in the U.S. alone.
To confront the effects of climate change, construction companies are exploring new approaches to buildings, materials and project planning. However, these transformations are often accompanied by logistical challenges, uncertainty and risk. Depending on their roles in the construction life cycle, businesses in the construction industry have different goals when it comes to cost, design and sourcing. Some contractors may resist abandoning established building methods and materials in favor of new alternatives. And new climate-resilient construction must be accessible as well as durable.
But as the planet warms and atmospheric CO2 levels reach record highs, the industry is recognizing the importance of collaboration, innovation and risk management to meet the challenges of climate change.
In Depth
With building projects and companies generating more than 40 percent of the world’s annual CO2 emissions, the construction industry has a unique opportunity to make changes for greater climate resilience and energy efficiency. Construction companies, project owners and designers are realizing the importance of considering the environmental impacts of building design, materials and onsite operations as well as making sure structures can withstand heat waves, torrential rain and other climate extremes. Yet no part of the construction industry operates independently, and conversations about climate-resilient construction require shared awareness of the benefits and limitations of today’s sustainable building techniques.
Planning Efficient, Compliant Construction
Alignment around climate strategy in the construction industry can be challenging due to varying priorities and timelines. Developers, suppliers and contractors each have unique cost considerations, which can influence decisions about green construction materials and building strategies.
Brenna Mann, head of strategy, U.S. Construction and Infrastructure at Aon, highlights how developers consider incentives and building codes when planning construction, but depending on a contract’s structure, contractors may have little input in building design. “They are there for the construction phase and focusing just on that part of the timeline of a building or a project,” she says. “Owners are responsible for the life cycle of buildings, and they must work with designers to ensure future weather is contemplated.”
A strategic approach to scheduling a construction project will be critical as the industry pursues climate resilience. By planning according to seasonal limitations, developers and contractors could minimize negative environmental and financial impacts. “If construction happens during the right time of year, they save on emissions, overall energy costs and gas,” Mann explains. “Generators are operating to keep things heated or cooled during construction as well. Post-construction project owners focus on lower operating costs because they’re heating and cooling a site or building more efficiently, a factor that is taken into account during the design, sourcing and installation phases of a project.”
Location-specific guidelines also influence climate-friendly building decisions. For example, the government of British Columbia has proposed an update to its building codes, requiring all new homes to have at least one temperature-controlled room. Cities around the world are also adopting embodied carbon policies, which specify the building materials and methods that are approved or encouraged by local governments.
Though understanding these policies can accelerate permit processes, Chris McLean, managing director, national leader, Construction and Infrastructure at Aon, explains how new government carbon policies for green building materials may not be popular with everyone. “Local governments are requiring the use of cross-laminated timber with little consultation with contractor and owner stakeholders,” he says. “Trade performance and availability of the manufactured product need to be considered in order for this material to be used successfully and sustainably.”
Climate-Conscious Building Materials and Technology
Making changes to construction materials and methods could create lasting and positive outcomes for the environment, though in some cases, builders may face higher up-front costs or logistical problems. Sourcing the right supplies takes time, and the definition of what truly makes a building material or process “green” is still up for debate. As the industry pursues climate resilience, construction industry leaders are exploring ways to balance the pros and cons of emerging materials and methods.
Technology is enabling climate-friendly solutions from the initial phases of building to ensuring energy efficiency. For example, 3D printing gives builders a way to cut down on construction time by quickly generating materials and sections of a building. Though industrial 3D printing often uses carbon-intensive cement, new models use a low-carbon mix of natural and recycled materials.
Smart building sensors also make use of technology to reduce energy output by monitoring air quality, humidity and other conditions within structures. Sensors can have long-term value in monitoring a building’s heating and cooling efficiency, though short-term considerations about saving costs may keep some construction projects from using this technology unless required.
Reconsidering how structures are designed and where they are built could also drive sustainability in construction. Passive House, for example, is a building standard that describes energy-efficient structures that use insulation and the strategic placement of high-quality windows to keep energy from being lost through walls. Though Passive House design can reduce energy expenses, higher initial costs may limit the wider adoption of this practice. Developers are also exploring infill housing, which brings construction to vacant lots in cities and leads to greater benefits for the environment and infrastructure.
Some climate innovations come in more familiar forms. White paint can reduce building temperatures by reflecting light and heat, and a new kind of paint could reflect up to 98 percent of the sun’s rays. Though this advancement raises potential geoengineering concerns, it offers a way to take fast action to counteract global warming. Bricks made from algae are also on the horizon, giving builders a way to lower their carbon footprints from the ground up.
Construction, Risk and Climate Resilience
Builders are now considering the financial consequences of creating structures that fail to meet current standards for energy efficiency. “It’s changing the risk profile for contractors. By doing that, it’s driving different contractual or risk transfer behavior. Now, there’s a surety product that needs to be pursued to guarantee performance, or a letter of credit that needs to be issued,” McLean says.
Meeting these needs requires an agile approach to insurance coverage. “If owners are trying to transfer liability to guarantee performance around energy efficiency, then we’ve got to be smart contractually,” Mann says. “All parties need to understand what risk they are taking and whether, as a contractor for instance, they can insure, mitigate or transfer the risk.”
Contractors face liability risks after a project’s completion, and newer climate-resilient materials may create uncertainty about their long-term performance. “Contractors also take on the risk for means and methods — and if those are being driven by the specifications of a building or a material, that gets complicated,” says Mann, adding that these contractors may need to turn to outside experts for guidance. “Construction is generally a low-margin, high-risk business. If you are a smaller or midsize contractor, it’s hard to allocate the resources and become experts about a new building material or method.”
Construction is generally a low-margin, high-risk business. If you are a smaller or midsize contractor, it’s hard to allocate the resources and become experts about a new building material or method.
Collaboration for Climate Resilience in Construction
Uniting construction stakeholders over climate resilience is no easy feat, but it will be essential to future structures. Having critical conversations in early phases of building development can lay the groundwork for environmentally sound decisions throughout construction. Contractors and designers can work together to ensure that newer green approaches are the right fit for a project, in addition to determining realistic timelines for construction.
Leaders within the construction industry and in government should also be well-informed on new materials and methods and look to research, testing and a sense of what the public wants to shape their decisions.
McLean explains that there is no single industry solution to the challenges of climate change; critical thinking and innovation needs to happen at every stage of construction. “We need our business leaders to be challenged. Politicians need to be challenged, too. Collaboration is the only way that all these things are going to be addressed.”
We need our business leaders to be challenged. Politicians need to be challenged, too. Collaboration is the only way that all these things are going to be addressed.
General Disclaimer
This document is not intended to address any specific situation or to provide legal, regulatory, financial, or other advice. While care has been taken in the production of this document, Aon does not warrant, represent or guarantee the accuracy, adequacy, completeness or fitness for any purpose of the document or any part of it and can accept no liability for any loss incurred in any way by any person who may rely on it. Any recipient shall be responsible for the use to which it puts this document. This document has been compiled using information available to us up to its date of publication and is subject to any qualifications made in the document.
Terms of Use
The contents herein may not be reproduced, reused, reprinted or redistributed without the expressed written consent of Aon, unless otherwise authorized by Aon. To use information contained herein, please write to our team.
Aon's Better Being Podcast
Our Better Being podcast series, hosted by Aon Chief Wellbeing Officer Rachel Fellowes, explores wellbeing strategies and resilience. This season we cover human sustainability, kindness in the workplace, how to measure wellbeing, managing grief and more.
Aon Insights Series Asia
Expert Views on Today's Risk Capital and Human Capital Issues
Aon Insights Series Pacific
Expert Views on Today's Risk Capital and Human Capital Issues
Aon Insights Series UK
Expert Views on Today's Risk Capital and Human Capital Issues
Construction and Infrastructure
The construction industry is under pressure from interconnected risks and notable macroeconomic developments. Learn how your organization can benefit from construction insurance and risk management.
Cyber Labs
Stay in the loop on today's most pressing cyber security matters.
Cyber Resilience
Our Cyber Resilience collection gives you access to Aon’s latest insights on the evolving landscape of cyber threats and risk mitigation measures. Reach out to our experts to discuss how to make the right decisions to strengthen your organization’s cyber resilience.
Employee Wellbeing
Our Employee Wellbeing collection gives you access to the latest insights from Aon's human capital team. You can also reach out to the team at any time for assistance with your employee wellbeing needs.
Environmental, Social and Governance Insights
Explore Aon's latest environmental social and governance (ESG) insights.
Q4 2023 Global Insurance Market Insights
Our Global Insurance Market Insights highlight insurance market trends across pricing, capacity, underwriting, limits, deductibles and coverages.
Regional Results
How do the top risks on business leaders’ minds differ by region and how can these risks be mitigated? Explore the regional results to learn more.
Human Capital Analytics
Our Human Capital Analytics collection gives you access to the latest insights from Aon's human capital team. Contact us to learn how Aon’s analytics capabilities helps organizations make better workforce decisions.
Insights for HR
Explore our hand-picked insights for human resources professionals.
Workforce
Our Workforce Collection provides access to the latest insights from Aon’s Human Capital team on topics ranging from health and benefits, retirement and talent practices. You can reach out to our team at any time to learn how we can help address emerging workforce challenges.
Mergers and Acquisitions
Our Mergers and Acquisitions (M&A) collection gives you access to the latest insights from Aon's thought leaders to help dealmakers make better decisions. Explore our latest insights and reach out to the team at any time for assistance with transaction challenges and opportunities.
Navigating Volatility
How do businesses navigate their way through new forms of volatility and make decisions that protect and grow their organizations?
Parametric Insurance
Our Parametric Insurance Collection provides ways your organization can benefit from this simple, straightforward and fast-paying risk transfer solution. Reach out to learn how we can help you make better decisions to manage your catastrophe exposures and near-term volatility.
Pay Transparency and Equity
Our Pay Transparency and Equity collection gives you access to the latest insights from Aon's human capital team on topics ranging from pay equity to diversity, equity and inclusion. Contact us to learn how we can help your organization address these issues.
Property Risk Management
Forecasters are predicting an extremely active 2024 Atlantic hurricane season. Take measures to build resilience to mitigate risk for hurricane-prone properties.
Technology
Our Technology Collection provides access to the latest insights from Aon's thought leaders on navigating the evolving risks and opportunities of technology. Reach out to the team to learn how we can help you use technology to make better decisions for the future.
Top 10 Global Risks
Trade, technology, weather and workforce stability are the central forces in today’s risk landscape.
Trade
Our Trade Collection gives you access to the latest insights from Aon's thought leaders on navigating the evolving risks and opportunities for international business. Reach out to our team to understand how to make better decisions around macro trends and why they matter to businesses.
Weather
With a changing climate, organizations in all sectors will need to protect their people and physical assets, reduce their carbon footprint, and invest in new solutions to thrive. Our Weather Collection provides you with critical insights to be prepared.
Workforce Resilience
Our Workforce Resilience collection gives you access to the latest insights from Aon's Human Capital team. You can reach out to the team at any time for questions about how we can assess gaps and help build a more resilience workforce.
More Like This
-
Article 8 mins
Mitigating Volatility and Maximizing Profits: A Guide to Risk Capital in the Food, Agribusiness and Beverage Industry
In an industry with tight operating margins, FAB organizations face significant challenges in managing spend and protecting their financial health — requiring industry leaders to adopt a sophisticated approach to risk capital optimization.
-
Article 15 mins
5 Top Trends for Risk Capital in 2025
The risk capital landscape is poised for change, driven by emerging trends reshaping market dynamics. With a buyer-friendly market currently prevailing across most lines, opportunities abound for strategic investment and risk management.
-
Article 8 mins
Aon’s Capital Poll: U.S. Insurers See Further Growth Opportunities in 2025
Aon’s Fall 2024 Capital Poll explores U.S. insurers’ attitudes toward their current retentions, growth outlook and capital solutions companies plan to employ to meet their 2025 targets.
-
Article 9 mins
3 Strategies to Help Avoid Workers Compensation Claims Litigation
When a workers compensation claim goes to litigation, expenses rise dramatically — a burden that is often shouldered by the business. To mitigate attorney-related costs, organizations should re-think their approach to engaging injured workers and use artificial intelligence to enhance outcomes.
-
Article 35 mins
5 Human Resources Trends to Watch in 2025
Human resources is increasingly involved in all areas of a company’s strategy. As the workforce changes, HR leaders should identify and leverage these five important and evolving trends.
-
Article 6 mins
The Long-Term Care Conundrum in the United States
Long-term care is expensive, and costs are rising due to shortages. With the population aging at the fastest rate in a century, finding solutions to pay for care is an urgent priority. How can employers support this growing population?
-
Article 6 mins
Improving Benefit Communication for a Multi-Generational U.S. Workforce
With a multi-generational and diverse workforce, it is important for employers to develop benefit communications and engagement strategies to help employees understand their unique benefit options. Here are five useful tips to consider.
-
Article 13 mins
Medical Rate Trends and Mitigation Strategies Across the Globe
Rising medical costs are a global phenomenon. Aon’s 2025 Global Medical Trend Rate Survey found that costs are projected to rise 10 percent in 2025.
-
Article 7 mins
Key Trends in U.S. Benefits for 2025 and Beyond
As healthcare costs continue to rise, employers are trying to balance the need to take care of their workers with the need to keep costs under control. Aon’s 2025 U.S. Health Survey provides insights into the choices employers are making, and their potential effects on costs.
-
Article 9 mins
Pension Reform: Navigating the Future of Retirement
Pension reforms in Europe are reshaping retirement planning, demanding more oversight from employers and new strategies for employees’ financial wellbeing.
-
Article 6 mins
Managing Non-Financial Risks to Build Organizational Resilience in the Financial Institutions Industry
Non-financial risks are often difficult to predict and quantify, yet present a real threat to financial institutions. In this volatile environment, risk management is playing a greater role in creating business resilience and identifying where capital should be deployed.
-
Article 9 mins
Ensuring Operational Stability Post-Spin-Off: A Conversation with Daniel Halter from Sandoz
Daniel Halter, Director Global Insurance at Sandoz, discusses how smart risk and insurance management supported the Sandoz core mission to provide affordable, off-patent medicines to patients who need them most with Ana Serdarevic, Head of Aon’s Transaction Advisory Services for DACH.
-
Article 7 mins
How to Navigate AI-Driven Cyber Risks
Business leaders are aware of AI-driven cyber risks and their implications. But understanding changing risk profiles to make better decisions around the management of new exposures is the key to cyber resilience.
-
Article 8 mins
U.S. Rail Sectors Work to Mitigate Capacity and Pricing Risk Issues
U.S. freight and commuter rail industries are facing excess liability and property issues for different reasons. These railroads are critical to infrastructure and vital to the economy, yet finding effective solutions remains complex.
-
Article 11 mins
D&O Risks and Considerations for Businesses Planning an IPO
As private companies prepare for an IPO, they face increased risks that require directors and key leaders to adopt essential risk management strategies to ensure a smooth transition.
-
Article 10 mins
How Public Entities and Businesses Can Use Parametric for Emergency Funding
As climate change intensifies the frequency and severity of extreme weather events, public entities and businesses need more flexible funding solutions. Parametric stands out as an adaptable resource capable of swiftly responding to potential disasters.
-
Article 17 mins
How Insurance Helps Unlock Capital for Hydrogen Projects Amid Financing Pressures
Funding challenges due to macroeconomic factors have prevented several green and blue hydrogen projects from getting off the ground. Organizations facing hurdles in accessing capital can work with risk and insurance experts to expedite projects and help make the promise of hydrogen a reality.
-
Article 11 mins
Strengthening Human Capital Strategies to Attract Talent in the Food, Agribusiness and Beverage Industry
Learn how strong human capital strategies can help recruit, retain and motivate vital talent in a competitive and evolving job market.
-
Article 7 mins
Trends U.S. Corporate Boards Should Prepare for in 2025
As corporate boards meet to discuss strategy, including any changes to executive compensation, there are key trends to consider for the year ahead.
-
Article 6 mins
Leading the Biofuels Transition: Risk Strategies to Cut Through Complexity
Companies aiming to be a net-zero company may face many challenges during the biofuels transition. Read more on risk strategies to cut through complexity.
-
Article 6 mins
DC Pension Schemes: Improving Investment Returns
With DC schemes growing across Europe, many organizations are realizing the importance of ensuring strong performance from their investments. Here’s how asset owners and managers can optimize DC outcomes through the right investment strategy.
-
Article 9 mins
Developing a Paid Leave Strategy That Supports Workers and Their Families
With no federal paid leave law in the U.S., employers have limited guidance in designing equitable and comprehensive paid leave programs to support their workforce. Looking beyond compliance to focus on strategy and values will help create fair and well-designed policies.
-
Article 8 mins
Unlock the Potential of Alternative Risk Transfer Solutions
Risk managers are increasingly looking to Alternative Risk Transfer Solutions for potential enhancements in managing risk.
-
Article 8 mins
2025 Salary Increase Planning Tips
Amid economic uncertainty, companies are taking a careful approach to hiring and salary planning — one that includes focused hiring strategies, revising salary budgets and implementing measures that respond to the current economic environment.
-
Alert 7 mins
Client Alert: Responding to Heightened Risk in the Middle East
The current operating environment in the Middle East is increasingly complex and multifaceted, characterized by ongoing conflicts in Gaza, Israel, Lebanon and neighboring states, alongside significant changes in the business and insurance environment.
-
Article 8 mins
Florida Hurricanes Not Expected to Adversely Affect Property Market
Hurricanes Helene and Milton insured loss estimates are expected to fall between $34 billion and $54 billion. Healthy, well-capitalized insurance and reinsurance markets are positioned to absorb those losses.
-
Article 17 mins
Q3 2024: Global Insurance Market Overview
Buyer-friendly conditions continued across much of the global insurance market in Q3, painting a largely positive picture as we head into year-end renewals.
-
Article 10 mins
Why It’s Key to Conduct Cyber Due Diligence in Financial Services During Mergers and Acquisitions
A successful M&A strategy relies on due diligence across financial, legal, human capital, technology, cyber security and intellectual property risks. As cyber threats become more complex, robust cyber due diligence in private equity and acquisitions is increasingly necessary.
-
Article 8 mins
The Evolving Threat of Cargo Theft: 5 Key Mitigation Strategies
Cargo theft in the transportation industry is escalating, driven by sophisticated criminal tactics that exploit both physical and digital vulnerabilities. Businesses must adopt proactive risk management strategies to counter these evolving threats.
-
Article 11 mins
4 Megatrends Affecting Middle Market Organizations in North America
Trade, technology, weather and the workforce are interconnected trends shaping the future of business in North America. Understanding them is key to long-term resilience.
-
Article 9 mins
Building Resilience in a Buyer-Friendly Cyber and E&O Market
Competition and capacity are dominating the cyber liability market and pricing remains favorable as a result. Taking advantage of the current buyer’s market to build sustained cyber resilience is the key to success.
-
Article 10 mins
How Risk Transfer Solutions Increase Capital Access in Renewable Energy M&A Deals
The growing renewable energy sector is boosting M&A activity. Risk transfer solutions can help unlock capital access in these transactions.
-
Article 7 mins
Managing Human Capital to Drive Innovation in Life Sciences
Digitalization presents both opportunities and challenges in life sciences, driving new organizational approaches to human capital to keep up with evolving talent needs while building a resilient workforce.
-
Article 5 mins
Connected Perspectives: Better Decisions on Digitalization for Financial Institutions
As financial institutions reshape human capital strategies for the digital age, leaders face pressure to balance the risks and opportunities of digitalization.
-
Article 9 mins
The Next Evolution of Wellbeing is About Performance
Employers are concerned that previous wellbeing strategies aren’t moving the needle enough. But when wellbeing is part of an organization’s culture, it has positive effects on costs, engagement and productivity.
-
Article 6 mins
How Human Capital Data Enhances Risk Management for Financial Institutions
Financial institutions can increase their resilience to volatile threats through enhanced risk management frameworks and innovative models powered by people data and technology.
-
Article 10 mins
How Financial Institutions can Prepare for Pay Transparency Legislation
As the deadline for implementing the EU Pay Transparency Directive fast approaches, some financial institutions feel unprepared to comply. These five steps can help guide the way through the upcoming regulatory landscape.
-
Article 9 mins
4 Ways to Foster a Thriving Workforce Amid Rising Health Costs
Thriving organizations rely on thriving employees to succeed. With healthcare costs on the rise, it’s time for employers to challenge the status quo in providing health benefits. Organizations need to consider the human side of these increases and take bold action to achieve better outcomes.
-
Article 9 mins
How Social Inflation is Impacting the Aviation Industry
The aviation industry is watching the rise in nuclear verdicts with concern as social inflation and associated risks continue to squeeze the sector. Organizations should review their risk management processes to limit the dollar value of future losses.
-
Article 12 mins
Navigating AI-Related Risks: A Guide for Directors and Officers
As AI evolves, directors and officers must maneuver through a complex landscape of regulatory and legal risks. Implementing best practices around the use of AI and robust governance-focused risk mitigation can help manage exposures.
-
Article 11 mins
A Middle Market Roadmap for Cyber Resilience
Middle market organizations face unique challenges in the ever-changing cyber environment, requiring holistic insurance solutions and enhanced resilience readiness to manage risks that could impact profitability.
-
Article 17 mins
3 Strategies to Improve Career Outcomes for Older Employees
With life expectancies and retirement ages on the rise, organizations can capitalize on the value that older employees offer and support them by fostering a workplace where both the business and its people thrive.
-
Article 8 mins
Wildfire Risk Fuels New Challenges for U.S. Communities
As climate change compounds wildfire risk, organizations play a critical role in protecting their workforce before and after an event.
-
Article 10 mins
5 Ways to Address Health and Wellbeing in the Transportation Industry
The transportation and logistics industry faces unique challenges which can negatively impact employees' health. A cultural shift to more tailored wellbeing strategies can improve health outcomes and boost company performance.
-
Article 8 mins
Workforce Shortages as a Future Risk
As workforce and skills shortages emerge as a significant future risk, companies seek winning talent and tech solutions.
-
Article 6 mins
A Streamlined Retirement Solution for Spin-Off Organizations
Pooled employer plans (PEPs) can offer a streamlined solution to the retirement planning challenges inherent in spin-off and M&A events.
-
Article 20 mins
5 Ways HR Can Partner with Finance to Drive Growth
The role of HR professionals is becoming more strategic, which requires collaboration with other areas of an organization to help drive growth. Given that people and benefit costs are a large portion of business expenses, partnering with finance is a natural step forward.
-
Article 5 mins
Remote Work and Potential Employment Practices Liability Perils
Aon analyzes employee perception about return to office policies following the COVID-19 pandemic, as well as recent actions one organization took for alleged lack of remote employee productivity.
-
Article 11 mins
The Silver Lining on M&A Deal Clouds: M&A Insurance Insights from 2023
Despite subdued global M&A in 2023, positive trends have been emerging in the M&A insurance market to help clients improve their deal-making and ‘value-protection on investment’.
-
Article 7 mins
Specialist Insights: A Deep Dive into Effective Crisis Management and Evacuation Protocols
Graeme Hudson and Ghonche Alavi from Crisis24 discuss Crisis24’s approach to Political Evacuation and Threat Management with Cara LaTorre from the Financial Services Group at Aon.
-
Article 8 mins
3 Human Capital Recommendations for Construction Contractors Entering Asia
European construction contractors are looking with increasing interest at Asia, but to expand successfully into the region, they need to overcome key workforce and market challenges.
-
Article 8 mins
How Cyber and Data Resilience Support Growth in Life Sciences
As digitalization presents new risks and opportunities for life sciences organizations, implementing cyber and data resilience ensures that innovation doesn’t result in business interruption.
-
Article 7 mins
How Insurance Companies can Sustain Profitable Growth Through the Market Cycle
For insurers, making decisions on where and how to deploy capital becomes more difficult during times of volatility.
-
Article 5 mins
Key Considerations When Exploring Captives for Voluntary Employee Benefits Version 4
Employers in the U.S. should understand the unique risks associated with voluntary benefit captives when considering alternative insurance arrangements for their voluntary benefit plans.
-
Article 7 mins
Improve Safety and Loss Control to Lower Workers Compensation Costs
Workers compensation is an area of risk management that could benefit from a more holistic approach. A safety program that incorporates wellbeing and uses data in a meaningful way can contribute greatly to lowering costs.
-
Article 8 mins
How Aon Partnered with Minnesota Firefighters to Create Crucial Health Benefits
Firefighters face a unique set of risks and long-term health consequences from their jobs. Aon worked with Minnesota firefighters to create a benefit program to address three primary health issues.
-
Article 8 mins
4 Steps to Help Mitigate the Cost of Open Workers Compensation Claims
Open legacy workers compensation claims place rising financial burdens on employers, who are faced with closing out aged claim inventory and improving their balance sheets in the process.
-
Article 5 mins
Climate Change: Evolving Property Risk to Resilience
Organizations must consider the impact of climate change on property, which will vary now and years into the future. Therefore, a thoughtful approach can enhance risk mitigation and resilience strategies.
-
Article 8 mins
Middle Market Risk, Regulatory and Compliance Strategies
Helping midsize organizations strike the right balance between risk and compliance with a comprehensive regulatory and compliance framework.
-
Article 6 mins
Empowering Employees to Make Better Health Plan Decisions
As U.S. employers balance costs with providing employees more value from their benefits, creating an annual healthcare enrollment process that includes more choice and guidance can accomplish both goals.
-
Article 10 mins
Q2 2024: Global Insurance Market Overview
With many insurers reporting healthy profits in 2023, and in response to notable improvements in the reinsurance market, the insurance market in Q2 2024 remained growth-oriented.
-
Alert 3 mins
Better Decisions Brief: Perspectives on the CrowdStrike Outage
On July 19, 2024, the CrowdStrike outage became one of the largest IT events in history, impacting businesses and customers around the world. Leaders now have an opportunity to reexamine technology dependencies and business continuity plans to mitigate similar risks in future.
-
Article 7 mins
How Insurers are Integrating Climate Change into their Investment Decisions
Insurers are some of the world’s largest institutional investors. Recognising their crucial role in driving the global climate transition, they should identify and analyse climate-related risks and opportunities to improve long-term risk-adjusted returns.
-
Article 7 mins
Lessons Learned from the CrowdStrike Outage: 5 Strategies to Build Cyber Resilience
The global CrowdStrike IT outage demonstrated that even non-malicious cyber incidents may have serious repercussions. Events like these serve as a wake-up call for businesses to review their cyber resilience and be prepared for more significant incidents in the future.
-
Article 4 mins
Companies Need a Global Benefits Identity in an Era of Cost Containment
More global benefits professionals are aligning benefit strategy to an employer’s identity and values.
-
Alert 10 mins
Responding to the CrowdStrike Outage: Implications for Cyber (Re)Insurance
CrowdStrike, a global cybersecurity firm, released an update for its Falcon sensor, which caused system crashes on Microsoft Windows systems globally.
-
Article 8 mins
Responding to Cyber Attacks: How Directors and Officers and Cyber Policies Differ
Cyber incidents continue to grow in frequency and severity, especially as new technology emerges. While D&O and cyber liability policies offer distinct coverage differences, terms need to be carefully structured to avoid potential gaps.
-
Article 6 mins
Insurance and the Metaverse: Safeguarding Virtual Assets
Insurers are venturing into the thriving digital landscape of the Metaverse, covering virtual assets, safeguarding intellectual property, and protecting the wellbeing of users and avatars. With this evolution, comes new challenges and the unique opportunity to shape the future of insurance.
-
Article 10 mins
Build Resilience for an Extremely Active Atlantic Hurricane Season
Record-warm Atlantic Ocean temperatures and a shift to La Niña conditions have led forecasters to predict an extremely active Atlantic hurricane season in 2024. Learn how to build business resilience to mitigate risk for hurricane-prone properties.
-
Alert 7 mins
Workforce Implications of U.S. Supreme Court Ruling on ‘Chevron Deference’
The U.S. Supreme Court has changed the way laws are interpreted in the development of regulations. This change has the potential for far-reaching consequences for both regulatory agencies and employers.
-
Article 18 mins
The Optimal Outsourced Chief Investment Officer
For institutional investors, engaging an outsourced chief investment officer, or OCIO, is one of the most critical decisions an organization can make. Choosing the right partner can lead to achieving the desired results or unexpected consequences.
-
Article 4 mins
Credit Solutions Market Overview
Overview of the current trade credit insurance market and outlook on trend developments.
-
Article 11 mins
Building a Future-Ready Workforce for the Professional Services Industry
The need to attract and retain high-quality talent in an environment of intense competition is at the forefront of professional services leaders’ minds.
-