Aon launches new tool to navigate U.S. construction risks

The Construction Services Group of Aon Risk Solutions has launched a new Construction Risk Portal, a web-based tool to help clients navigate risks when working across multiple geographies.

The portal includes a Construction Risk Map,”a searchable reference library focusing on the macroeconomic view of the construction risk climate across the U.S.,” according to Aon.

The map outlines specific risk issues that contribute to a jurisdiction’s overall construction risk rating, including litigation environments, legislation and insurance requirements, the company said.

The portal also includes what Aon calls the Construction Risk Register, 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 profile includes:

• 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,” Matt Walsh, executive vice president and chief broking officer for the Construction Services Group commented in the announcement.

“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.”