Record Heatwaves: Protecting Employee Health and Safety
With the continued threat of rising temperatures, companies should focus on building climate and weather-related impacts into their overall workforce resilience plans.
Key Takeaways
-
Record heatwaves will soon represent a new normal.
-
Heat is a health and safety risk — employers should treat it like any other serious risk to mental and physical health.
-
HR leaders must take steps to learn who is most at risk, and help employees adapt or mitigate the risk.
Summer in the Northern Hemisphere has once again brought record heatwaves in 2023. Globally, the hottest day, week and month ever recorded all occurred in July of this year1. And extreme heat events, both in temperature and duration, are only expected to become more common.2
Heatwaves are certainly not a new phenomenon. The hottest summer in Europe in over 400 years occurred in 2003. However, that record has since been surpassed at least six times since. From mental wellness and the physical health threats associated with extreme heat, to a rise in atmospheric pollutants and resulting challenges, the people-related risks associated with today’s changing climate are undeniable.
The Risk to Employees
A warming climate is a threat to workforce resilience. People are adjusting how they live and operate in a warmer planet — and the full extent of how extreme heat affects health is still being studied. The human health impacts of extreme heat span all areas of wellbeing. Specifically, recent research reveals the effect of heat on mental health.3 One 2022 study4 found that emergency room visits for mental illnesses were much higher during the hottest days of summer compared with the coolest days in the same season. Additionally, heat is associated with a spike in violent crime.5
Beyond mental illness, extreme heat poses a range of physical health risks as well.6,7 In fact, there’s been more awareness and research on how heat affects people with preexisting health conditions such as diabetes8.
Like other extreme weather events, heatwaves expose income and racial disparities. For example, a 2021 study9 in the science journal Nature, found people of color were exposed to more extreme urban heat in almost every major U.S. city. In the United States, individuals without health insurance or those who are functionally uninsured (meaning they can’t afford to cover basic out-of-pocket costs like deductibles, copays and coinsurance), are particularly vulnerable to heat-related illnesses. Heatwaves also contribute to the development of atmospheric pollutants such as ozone and particulate matter, which can have adverse impacts on respiratory and cardiovascular health. Increased risk of infectious disease, like Lyme disease and West Nile virus,10 as well as the proliferation of heat-loving bacteria can also lead to infections and increased risk of a future pandemic. Additionally, heatwaves increase the risk for wildfires — yet another factor driving atmospheric particulate matter. Still more respiratory risks come from an increased demand for electricity to power air conditioning. This causes potential outages, which can exacerbate heat-related problems while creating new ones — for example, a lack of power for sanitation systems or medical devices.
Addressing the Risk to Employers
Employers have a responsibility to their employees and their business operations to ensure the health and safety of their workforce. Beyond this, extreme heat can also cause productivity issues and business interruption. It’s recommended to treat heatwaves similarly to other public health risks like outbreaks of disease.
Employers should consider building climate and weather-related impacts into their overall workforce resilience plans. This includes:
- Flexible working to limit outdoor work during unsafe conditions.
- In the U.S., the National Institute for Occupational Safety and Health (NIOSH) recommends that employers implement measures to protect the health of workers exposed to heat and hot environments.11
- The European Agency for Safety and Health at Work has published similar guidelines, based on NIOSH standards as well as those from the UK, Australia and Canada.
- The availability of adequate shade, water and regular resting breaks. Workplace safety regulations related to heat are evolving to provide more protection.
- Contingency plans for locations not traditionally considered prone to certain natural disasters, but which are now susceptible.
- Loosened location requirements for remote workers if they don’t have access to air conditioning and need to go to a public space.
- The acknowledgement that employees in lower income areas may be more susceptible (e.g., longer waits in the heat for public transportation, less reliable electricity infrastructure) and less able to adapt to the effects of extreme heat. For example, turning on the air conditioning means a higher energy bill, which some employees may not be able to afford.
- An adjustment plan for new and returning workers. A lack of acclimatization has proven to be a major factor associated with worker heat-related illness and death.12
Employers should also ensure healthcare access for vulnerable populations. Many heatwave- related illnesses like heat stroke are acute, so the availability of adequate and immediate medical care is important. Employers should establish a monitoring program for early identification of signs that may be related to heat-related illness. This program should include a plan for monitoring workers on the job. Using data and analytics, employers can identify which employees are most vulnerable based on factors such as pre-existing conditions and location. They can then take extra action to ensure these people are protected.
Employee benefits are another way companies can better support employee health, safety and wellbeing. Offerings could range from financing to access efficient heating and cooling systems like heat pumps, to financing for energy costs themselves, especially if workers are hybrid and working from home.
Employers can also have a significant impact on the communities in which they operate. Positive investments in activities like regreening urban communities can not only help combat extreme heat and urban heat islands, but it can also help bring employees and community members together.
Global Climate Issues Warrant Global Solutions
While policies around medical care and heat-related illness are vital, employers and employees in areas not traditionally affected by heat could take a lesson or two from other parts of the world, where extreme heat is common. Some workers in India, South America and other regions, for example, work a split shift, with much of the workday taking place before the sun rises and later in the evening when it cools14. Other adaptations can include developing indoor spaces to take advantage of air flow, wearing light-colored, loose-fitting clothing (rather than wearing less), and keeping a damp cloth covering the neck — an important spot for temperature regulation in the body.
17˚C
July 3-9 2023 was the first 7 day period ever to have a global average daily surface temperature exceeding 17˚C (62.6˚F)
Source: Copernicus Climate Change Service ERA5 data
Companies need to adapt and reduce greenhouse gas emissions through sustainable transitions of their business models. They also need to create adaptation plans across locations — especially places that haven’t historically dealt with heatwaves.
A Warming Climate Demands Better Decisions
There are many impacts a changing climate will have on organizations and their workforce resilience — from understanding and mitigating risks to business operations and addressing the health, safety and wellbeing of their people. A principal point to remember is that human activity, especially through the use of fossil fuels, is driving the accumulation of heat-trapping emissions in the atmosphere. This then accelerates climate change, leading to more intense and longer heatwaves. Organizations should not dismiss this truth and continue accelerating their shift away from fossil fuels. Every degree of warming counts, and every action taken now will have an impact on the future and the ability for humans to thrive.
Companies can partner with trusted advisors to address these risks and develop strategies to ensure employees and their families have access to health and benefit coverage that properly protects them from climate-related impacts and illnesses. In the process, they will also adapt and become more resilient to a changing climate that is less predictable. Aon’s risk tools, analytics and modeling capabilities identify where potential risks lie and help organizations anticipate and mitigate the worst impacts of climate on their operations and workforces.
Prepare for the future by shifting the paradigm from reactive to proactive. Indeed, it is this shift that will enable broad adaptation, resilience building and mitigation of climate change for a brighter, more livable future.
1 July 2023: Global air and ocean temperatures reach new record highs
2 Record-breaking heatwave will be an average summer by 2035, latest Met Office Hadley Centre data shows
3 Climate Change 2023 Synthesis Report
4 Association Between Ambient Heat and Risk of Emergency Department Visits for Mental Health Among US Adults, 2010 to 2019 | Psychiatry and Behavioral Health | JAMA Psychiatry | JAMA Network
5 Interpersonal violence associated with hot weather - The Lancet Planetary Health
6 Extreme Heat and Your Body: What Happens When It Gets Too Hot? - The New York Times (nytimes.com)
7 Climate Change 2023 Synthesis Report
8 People with diabetes are among those most vulnerable to heat waves. : NPR
9 Disproportionate exposure to urban heat island intensity across major US cities | Nature Communications
10 https://www.cdc.gov/ncezid/what-we-do/climate-change-and-infectious-diseases/index.html
11 https://www.cdc.gov/niosh/docs/2016-106/pdfs/2016-106.pdf?id=10.26616/NIOSHPUB2016106
12 Disproportionate exposure to urban heat island intensity across major US cities | Nature Communications
13 https://www.nytimes.com/2023/08/17/well/live/heat-hydration-advice.html
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 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 6 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.
-
Article 11 mins
Enhancing Cyber Resilience in the Renewables Sector
Renewable energy is critical to meet net-zero targets, but as the industry grows, so do cyber attack surfaces. Learn how to prepare for emerging threats and support long-term ambitions.
-
Article 7 mins
Connected Perspectives: Better Decisions on Interconnected Risks for FAB Organizations
As the scale and speed of interconnected risks escalate, innovative risk management strategies help FAB businesses build the resilience and agility needed to thrive.
-
Article 10 mins
Driving a Future-Proof, Skills Based Approach for the Renewable Energy Sector
The renewable energy sector is undergoing a sweeping transformation, as it plays a pivotal role in the challenge to achieve global net-zero goals. Attracting, upskilling and retaining talent is critical for sustainability.
-
Article 7 mins
How to Navigate Evolving Construction Contractor Risks in EMEA
Contractors in EMEA face an array of risks they must mitigate or transfer while managing the complexities inherent in major construction projects.
-
Article 12 mins
8 Focus Areas for the Renewable Energy Sector
As more companies seek to reduce their carbon footprint, the renewable energy sector continues to grow, presenting both opportunities and red flags for organizations with renewable energy growth plans.
-
Article 6 mins
Reshoring: Managing Risks and Building Resilience Closer to Home
Proactive risk management and data-driven reshoring strategies can empower risk managers in logistics companies to navigate supply chain complexities with confidence.
-
Article 5 mins
Captive Insurance: Uptick in Use Reflects Market Realities
As more companies become comfortable using captives and understanding the value they add, captives are likely to become further embedded into corporate risk strategies, regardless of market conditions.
-
Article 6 mins
Building Strategies for Sustainable Growth as a Mid-Sized Organization
Helping midsize organizations leverage key partnerships to address challenges around talent, market, regulatory compliance, and leveraging capital.
-
Article 12 mins
Helping Employers Navigate the Rise in High-Cost Medical Claims
A rapid rise in medical plan costs is being driven in part by high-cost claimants — a high-risk group that disproportionately accounts for a large amount of healthcare costs. Here are strategies for addressing this issue.
-
Article 9 mins
Four Steps to Implementing an Effective Online Benefits Platform
Online benefits platforms are a key component of the overall employee value proposition. As employers maximize the ROI of their people spend, here are four tips which may assist with implementing a successful online benefits platform.
-
Article 8 mins
Pay Transparency Can Lead to Better Equity Across Benefits
Efforts to bring more transparency to pay practices shine a light on benefits equity — and it’s not only about wages and salary.
-
Article 3 mins
Building Resilience Against the Constant Cyber Threat
The rapid pace of digitalisation means that organisations in the UK are constantly struggling with the ever-present threat of cyber attacks.
-
Article 2 mins
Creating a Fair and Equitable Workforce for Everyone
Equity has an important part to play in a balanced strategy to improve the attraction and retention of key employees.
-
Article 2 mins
How to Balance the Conflicting Forces of Efficiency, Performance and Wellbeing
How are business leaders adapting to a generational change in how work gets done?
-
Article 2 mins
Introduction: Clarity and Confidence to Make Better Decisions
Lori Goltermann, CEO of Regions and Enterprise Clients, Aon examines the main issues discussed at the event.
-
Article 2 mins