CHICAGO (Nov. 11, 2014) – The Construction Services Group of Aon Risk Solutions, the global risk management business of Aon plc (NYSE: AON), today announced the launch of the Construction Risk Portal, an innovative web-based tool to help clients navigate the risk challenges of pursuing work in multiple geographies.
The Construction Risk Portal is a single website that currently houses two applications. The first is the Construction Risk Map – a searchable reference library focusing on the macroeconomic view of the construction risk climate across the U.S. The map outlines specific risk issues that contribute to a jurisdiction’s overall construction risk rating, including litigation environments, legislation and insurance requirements.
The second application, the Construction Risk Register, is an interactive module that allows users to create a project/location-specific risk profile based on a limited number of data inputs about the project. The Register produced profile consists of three main components:
- Jurisdictional Issues: State-specific statutes and case law based on construction specific issues as tracked in the Construction Risk Map
- Catastrophic Risk Exposure: a map that plots a project’s location based on information input and through a partnership with Aon Benfield’s Impact Forecasting capabilities and analysis of catastrophic exposure. Current capabilities include named windstorm and earthquake with future capabilities to include flood and convective storm
- Risk matrix: systematic plot of the potential severity of both jurisdictional issues and catastrophic exposures that may negatively affect a specific construction project
“As the construction landscape continues to grow, contractors entering new states continually express frustration when confronted with differences in regulation, statutory requirements and hazard risks between geographies,” said Matt Walsh, executive vice president and chief broking officer of Aon Risk Solutions’ Construction Services Group. “The Construction Risk Portal will allow our clients and colleagues to have access 24-hours a day, seven days a week to statutory developments, case law, risk trends and regulatory updates to help facilitate the understanding of these dynamics.”
Walsh added, “Thanks to the help of real estate and construction litigation firm Johnson & Bell, this interactive platform features publicly available information of development-related regulations in each state. We are excited at the capabilities this platform has to offer for our clients. As we move into 2015, we will build out additional applications to include more robust project risk tracking and options for international project risks.”
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Aon plc (NYSE:AON) is the leading global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. Through its more than 66,000 colleagues worldwide, Aon unites to empower results for clients in over 120 countries via innovative and effective risk and people solutions and through industry-leading global resources and technical expertise. Aon has been named repeatedly as the world’s best broker, best insurance intermediary, reinsurance intermediary, captives manager and best employee benefits consulting firm by multiple industry sources. Visit www.aon.com for more information on Aon and www.aon.com/manchesterunited to learn about Aon’s global and principle partnership with Manchester United.
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