Management Consulting
Aon
Full Credential Description
Aon plc launched a new fuel insurance solution aimed at helping companies manage the financial risks associated with rising fuel costs. This innovative product is particularly beneficial for industries that consume large amounts of fuel, such as marine, aviation, construction, mining, and energy. The insurance coverage is activated when fuel prices exceed a predetermined limit, covering the difference between the agreed price and the higher market price, with payouts made monthly. This solution addresses a critical niche issue faced by companies in these sectors: the volatility of fuel prices, which can lead to significant financial strain. By providing a safety net against unexpected spikes in fuel costs, Aon's fuel insurance solution promotes corporate resiliency and sustainability, allowing businesses to better navigate the complexities of their operational environments. The introduction of this product marks a significant advancement in the insurance market, being one of the first of its kind commercially available, thus offering a unique benefit to clients looking to stabilize their fuel cost exposure.