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What’s happening: This week, U.S. President Joe Biden delivered his State of the Union Address, touching on important topics like COVID-19, inflation, climate change and employment, which present risks and opportunities to organizations around the world.

Aon’s experience, global reach and state-of-the-art analytics mean that we are better able to deliver the insights and advice that help clients protect and grow their organizations, amidst the growing complexity and heightened volatility. The end benefit of all that we do is enabling them to make better decisions.

• In the U.S., the unemployment rate has reached a 50-year low at 3.4 percent. Apprenticeship programs provide an opportunity to help bridge the skills gap and diversify talent pipelines. Aon is investing $30 million to expand its apprenticeship program and Apprentice Networks, with the goal to create 10,000 corporate apprenticeships at participating employers across the U.S. by 2030. Read more about Aon’s apprenticeship program in Employee Benefit News.
• According to President Biden, “Inflation has been a global problem because of the [COVID-19] pandemic that disrupted supply chains.” Experts at Aon have commented on the impacts of inflation, including higher losses from natural catastrophes globally, increased food security risks, rising health care costs and more. And read about how Aon is tackling some of the top challenges identified at the World Economic Forum’s annual event in Davos, Switzerland and check out key considerations for employers looking to provide better support during times of high inflation here.
• Weather events are becoming more severe and occurring more frequently around the globe. Aon’s annual Weather, Climate and Catastrophe Insight report examines the increasing frequency and severity of natural disasters around the world and how their resulting losses are protected. The latest report revealed $313 billion global economic loss from natural catastrophes in 2022. Explore how the insurance industry can play a role in reducing the investment risk of nature-based solutions and improve the integrity of carbon offset transactions in Aon’s whitepaper, “The Role of the Insurance Industry in Solving Biodiversity and Climate Crisis.”

The global outbreak of COVID-19 created challenges globally and across industries. During catastrophic events, all parts of an organization can be impacted. Aon explored the question: What have we learned from the COVID-19 pandemic that can be applied today? Check out the firm’s insights here.