Aon Risk Solutions, the global risk management business of Aon plc, announced today that it has formed the Aon Risk Solutions' Risk Pooling Practice, providing comprehensive property, casualty and employee benefits pooling solutions for private and public sector organizations that make group purchasing decisions. The Risk Pooling Practice will address key issues such as pool administration and optimal risk transfer solutions in an ever tightening budget environment.
"Risk pooling is an increasingly important strategy to help clients achieve long-term continuity," said Tom Fitzgerald, CEO of Aon Risk Solutions' U.S. Retail operations. "We are investing to build a dedicated team with the specialized expertise needed to support clients in making informed decisions. We believe Aon is uniquely poised to help clients optimize risk decisions by using our data and analytics capabilities, industry-leading brokers and global reach."
Guided by a leadership team comprised of more than 50 years of combined experience in servicing pools, Aon Risk Solutions' Risk Pooling Practice will deliver cost-effective risk solutions to meet the unique financial, operational and regulatory needs of government agencies, higher education institutions, professional groups, industry associations, public and private authorities, school districts and religious institutions. Types of groups that can benefit from Aon Risk Solutions' Risk Pooling Practice include consortiums, reciprocals, trusts, associations, compacts and joint powers.
Additionally, the practice will offer proprietary data analysis to identify the risks affecting each pool, measure operational efficiency, and further the development of pool-specific insurance coverage through Aon eSolutions, Aon's industry-leading technology solutions business.
William Becker, Aon Risk Solutions' Public Sector Practice leader added, "The Risk Pooling Practice is leveraging Aon's global breadth to provide an incredibly comprehensive offering of brokerage and consulting solutions to address the unique risks of public and private pools."