View the latest insights and analysis on the transport sector. You will find press releases, white papers, reports, publications and articles that help you reduce risk and improve performance of your motor fleet.
Risk and Innovation
Our recent survey evaluated how companies responded to COVID-19 their priorities for reshaping their business, and implications for risk and inurance.
Risk & Innovation
Aon’s global COVID-19 Risk Management and Insurance Survey, conducted at the end of 2020, found interesting insights into the Technology, Media and Telecom (TMT) sector’s response to the pandemic. Half of survey respondents in this industry were from North America and EMEA (Europe, Middle-East and Africa).
People & Organisations
Even before the pandemic, many South Africans were already facing significant constraints in saving enough for their retirement. This trend has been exacerbated by the pandemic as workers face reduced earnings, either due to reduced work hours or retrenchment.
Risk & Innovation
With above normal rainfall[1] predicted for South Africa until April, flooding could be a reality for many South Africans in 2021. In Aon’s Weather, Climate and Catastrophe 2020 Report, flooding was identified as the second largest peril across the globe, following tropical cyclones, with a devastating cumulative economic loss of $1,191bn (R17,674bn). What is even more concerning is the fact that only 17% of losses were insured.
Risk & Innovation
The world certainly looks very different a year later, and nowhere is it more apparent than in the Small, Medium and Micro Enterprises (SMME) space. The sector has faced more than its fair share of obstacles during the COVID-19 pandemic amidst a contracting economy and lockdown measures that reduced income streams to a trickle.
Risk & Innovation
Cycling became a lifeline for countless South Africans during the various lockdowns in the past year, offering a means to stretch those legs and relieve some stress. Many cyclists however underestimate the financial implications of having to replace lost or damaged pedal cycles and gear with top of the range cycles costing as much as R250k.
Risk & Innovation
Historically, Directors and Officers liability insurance (D&O) catered for low frequency/high severity risks. The D&O market has, however, experienced a fundamental shift to high frequency/high severity claims for damages and judgements, in addition to an increase in high frequency/low severity claims for defence costs, regulatory investigations and enquiries.
Risk & Innovation
According to a new report by the Council for Scientific and Industrial Research (CSIR) on SA’s electricity crises and ongoing load shedding, South Africa will grapple with an electricity supply gap until 2022, in a best-case scenario. Load shedding will be a regular feature for the foreseeable future.
Risk & Innovation
The Sports, Recreation and Entertainment (SRE) industry has been one of the hardest hit by the pandemic with large parts of the industry still fighting to survive. Aon’s global COVID-19 Risk Management and Insurance Survey, conducted at the end of 2020, sheds some light onto the SRE sector’s response to the pandemic.
Aon Insights
Evolving cyber risks and the Protection of Personal Information Act (POPIA) has created a greater awareness of the financial impact of cyber risks, considering the fact that maximum penalties under POPIA are a R10 million fine or imprisonment for a period not exceeding 10 years or both[1]. It emphasises the need for organisations to increase their understanding of cyber insurance.
Business Insurance
When you’re in the thick of running your business and tending to day-to-day work responsibilities, it’s easy to leave aspects such as risk and insurance simply to ‘tick’ over, but that could leave you compromised as your business evolves and the exposures in your environment and industry change.
Business Insurance
Traditionally, the development of risk management plans is tailored to address assessed and quantified risks. There is however always the ‘the unknown factor’. Enter the COVID-19 pandemic. Of course, we have faced localised pandemics before, but never one on such a globally synchronous scale, thanks to global travel and trade. It propelled the entire world into unchartered territory as mass economic and travel lockdowns were implemented, and contingency plans were hurriedly rolled out.
Business Insurance
If your business relies on high-value or specialist machinery in its daily operations and service/product delivery, the breakdown of such machinery can incur significant losses - not only from a repair or replacement perspective, but also in terms of business interruption losses and reputational damage incurred during down time.
Notable market updates in EMEA
Aon plc (NYSE:AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, released its Quarter 1 Global Market Insights with notable market updates for the Europe, the Middle East and Africa (EMEA) region.
Personal Insurance
While insurance is an essential aspect of recovering financially from vehicle theft, there are still unexpected costs you may not have planned for, and some which you cannot attach a monetary value to.
Risk & Innovation
Exposure to environmental litigation is an issue that companies are increasingly expected to deliver on as awareness of climate change increases. Whether it is driven by legislative requirements, a need to economise on resources or considerable media coverage of the issue, it is clear that being kinder to our planet is becoming a board requirement.
Risk & Innovation
Social restrictions, remote working and the impact of reduced physical activity has raised awareness of issues like emotional and social wellbeing and what this means for employees. With the impact of the pandemic set to be long-term, and many work models becoming the norm and not bouncing back to pre-COVID-19 models, it’s important that business leaders reinvent the approaches to employee health, safety and wellbeing.
Personal Insurance
According to Aon South Africa, insurance brokerage and risk advisors, while your business may now be based at home, the risks it faces are very much in the business realm. There are a number of important aspects to consider from an insurance and risk perspective when working from home.
Personal Insurance
There’s nothing quite like buying your first car. While it is exciting, it could also be overwhelming to address the insurance aspect of securing your vehicle against theft, loss or damage. There are so many variations of cover and costs available.
Political Risk Maps
Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions, has published its 2021 Risk Maps report, which finds that the COVID-19 pandemic both suppressed and aggravated terrorism and political violence risks in 2020-2021. The scale of government intervention, economic inequality and public unrest about government responses to the COVID-19 pandemic will continue to play an influential part in growing global unrest.
Personal Insurance
Fire is one of the major causes of outright insured losses in South Africa, yet it is also one of the most underestimated and underinsured risks. Your home and everything in it are likely to constitute your single biggest investment, so make sure you take all the necessary fire mitigation steps, and that you are correctly insured for a worst-case scenario.
Business Insurance
Not only is the gig economy benefiting individuals, but businesses are also embracing this technologically enabled approach to unlock new revenue streams. Some small business owners have successfully used it to secure new clients, while millennials are particularly open to this model of working from a flexibility perspective.
Healthcare & Employee Benefits
Few people consider the far-reaching implications of a health crisis on every facet of their lifestyle. The devastating effect of a serious health crisis such as cancer, a stroke or heart attack, COVID-19 or even an accident typically extends far beyond the physical consequences of such an event, with significant implications for your financial and emotional wellbeing too, and even your ability to work and earn an income.
Opinion by Nyasha Madzingira
Climate change is a hotly debated environmental risk and with a marked increase in the frequency and severity of extreme weather events as outlined by Aon’s Annual Catastrophe Report, there is a rising concern that weather catastrophes will impact the sustainability of insurance businesses.
Personal Insurance
The art and collectables industry has undergone somewhat of an evolution amidst the ongoing COVID-19 pandemic, with the industry taking the viewing and purchasing of artwork onto digital platforms. This has also opened the market from a global perspective, allowing art enthusiasts from anywhere in the world to participate in the growing art craze.
Personal Insurance
Opportunistic crime is on the rise and so is the trend of cellphone snatching Brazen criminals are willing to risk life and limb to snatch a R20k smart phone and make off with it - phones left on tables right next to you in restaurants, in vehicles hooked up to car kits, peeping out of back pockets, and even while in use and against your ear – its all fair game to criminals who will accost anyone to get their hands on a smartphone payday.
Personal Insurance
Amidst the ongoing pandemic, many households are taking financial strain and tightening their purse strings to cope with the rising cost of living and soaring job insecurity. Faced with these financial pressures, there’s always the temptation to cut insurance costs in a bid to save money on what many view as a grudge purchase – until something goes wrong that is!
Cyber Insurance
Ransomware Defence brings Aon’s cyber security expertise and capabilities together into one solution to help mid-market organisations improve and demonstrate their cyber preparedness. This offering can help a client mitigate their risk of a ransomware attack while also facilitating their cyber insurance placement.
Cyber Insurance
Aon’s Cyber Security Risk Report found that ransomware is a crisis that will only get worse as threat actors continue to grow in sophistication and expertise. Ransomware attackers often operate with the discipline and approach of a legitimate traditional business, except with criminal intent. Fortunately, there are strategies companies can take to reduce the risk of falling victim to a ransomware attack.
Specialty Business Insurance
The construction industry has been navigating a challenging landscape due to the economic slowdown caused by the COVID-19 pandemic. The sector has historically been highly sensitive to economic cycles that have been compounded by government-sanctioned lockdowns, leading to the delay, suspension and cancellation of projects around the globe.
COVID-19 INSIGHTS
Most people who have contracted COVID-19 recover within two weeks, while those who have experienced acute infection can take up to six weeks to recover. Many people are, however, experiencing a wide range of symptoms beyond six weeks, often in excess of six months.
Insights
As we close off 2021 and as a new year beckons, it is understandable that we are all hoping for relief and a return of some normality – a ‘new better’. It seems fitting to acknowledge how far we have come and the tremendous ability we all possess to adapt and remain resilient despite the adversity. You have pivoted, you have realigned work and home life, many have completely reimagined business models and ways of work to find opportunity in the risks.
Risk & Innovation
Many global communities are exposed to increasingly volatile weather conditions that are in part enhanced by the growing effects of climate change. This includes record-setting episodes of extreme temperatures, rainfall and flooding, droughts and wildfires, rapidly intensifying tropical cyclones and late season severe convective storms.
Personal Product Solutions
Making better decisions about your risk and insurance starts with having a clear understanding of the common terms and definitions used in your insurance policy. In its absence, many individuals may only discover a specific exclusion or condition of cover at claims stage which may adversely affect the outcome of a claim.
Managing Emerging Risks
The pandemic has shaken up the world of work across the globe with the work-from-home (WFH) and gig-economy phenomena becoming viable and increasingly popular options.
Risk & Innovation
Aon, a leading global professional services firm, published its 2021 Weather, Climate and Catastrophe Insight report, which evaluates the increasing frequency and severity of disruptive natural disasters and how their resulting economic losses are protected globally.
Risk & Innovation
The Sports, Recreation and Entertainment (SRE) sector has been dealt a devastating blow by the Covid-19 pandemic. Two years in, the industry is finding its feet, rising above immense adversity and shifting gear to find innovative solutions in a world that has been changed, irrevocably.
Risk & Innovation
Products inefficacy insurance is an aspect of liability insurance which is sometimes overlooked or misunderstood. This may be because it is closely aligned, but different, from products liability insurance. Products inefficacy insurance is designed to cater for a very defined risk that operates alongside and in tandem with conventional products liability insurance cover.
People & Organisations
Although not new, Environmental, Social and Governance (ESG) issues have become a key focus in the last 18-24 months, in part driven by growing awareness of environmental and equity and inclusion issues, as well as the health and wellness impacts of COVID-19. The events of 2020 highlighted how ESG issues can become financial risks overnight.
Business Insurance
No professional relishes the thought of making a mistake or being accused of being negligent in the execution of their professional duties. In fact, you may not even have made a mistake for a claim of negligence to be brought against you. However you’ll still need to defend any such claims to resolution, which can be a costly affair, both in time and financially.
Personal Product Solutions
When obtaining an insurance quote, it may seem like you’re drowning in an alphabet soup of terminology, but once you understand the key terms and why they are so important, it all becomes a lot clearer. Aon provides an overview of some of the most common, and important insurance terms that you may encounter in your insurance dealings.
Risk & Innovation
Opinion by Craig Kent, Head of Risk Management at Aon South Africa
No matter which way you approach it, COVID-19 has fundamentally changed the parameters for business of what constitutes success in the future, and how risks will be measured and mitigated.
Personal Product Solutions
Mandy Barrett of insurance brokerage and risk advisors, Aon South Africa, offers parents the following invaluable tips when it comes to insuring student assets.
Risk & Innovation
The recent SolarWinds debacle5 highlights the fact that billions of Rands of IT security can be undermined by one weak entry point, an example of the ingenuity of criminal attackers and their methods to obtain access. Aon offers seven tips to help mitigate the risk of falling victim to ransomware and better prepare for a ransomware incident.
People & Organisation
Aon South Africa has been certified as a Top Employer for the fourth consecutive year by the Top Employer’s Institute.
Keys to Managing COVID-19
Traditionally, the development of risk management plans is tailored to address assessed and quantified risks. There is however always the ‘the unknown factor’. Enter the COVID-19 pandemic. Of course, we have faced localised pandemics before, but never one on such a globally synchronous scale, thanks to global travel and trade. It propelled the entire world into unchartered territory as mass economic and travel lockdowns were implemented, and contingency plans were hurriedly rolled out.
People & Organisations
The impact of mental health on workforce productivity is well recognised. Employers hold the key to supporting emotional and mental wellbeing in the workplace, but as businesses grow their workforces globally across geographies, how can employers provide holistic, cross-cultural health and wellbeing solutions that support hugely diverse workforces?
Managing Emerging Risks
Cyber has become the latest battle front in times of geopolitical conflict. Here's how organizations can take steps to improve their cyber defenses.
Rising Health & Retirement Costs
Without supplementary cover, members potentially face large shortfalls between their medical scheme benefits and the actual costs incurred for surgery or other in-hospital treatment.
Managing Emerging Risks
Having a solid understanding of the implications of underinsurance is crucial at a time when many South Africans are financially strained and looking for ways to save on household costs
Managing Emerging Risks
In situations of liability, it is better to be safe than sorry. Capture all circumstances in respect of which you have an awareness of the possibility, however remote, that a claim might arise, and notify your insurer or broker in writing as quickly as possible
Managing Emerging Risks
Ransomware industry flourishes in SA while business are largely unprepared for the business interruption and financial fallout of a breach
South African market trends
Business leaders have been confronted with a number of decisions as they steer their workforces, operating models, customers, portfolios and finances through massive uncertainty. Some of the changes are likely to last — and some are poised to completely reshape parts of their business. In the case of risk, COVID-19 has pushed companies to reprioritise risk and resilience.
Insights
Read the mid-year 2021 credit market insights from Aon’s thought leaders related to global credit insurance market trends, placements and claims dynamics
Healthcare
Few people consider the far-reaching implications of a health crisis on every facet of their lifestyle. The devastating effect of a serious health crisis such as cancer, a stroke or heart attack, COVID-19 or even an accident typically extends far beyond the physical consequences of such an event, with significant implications for your financial and emotional wellbeing too, and even your ability to work and earn an income.
Business Insurance
Theft, misappropriation or infringement of intellectual property (IP) – assets that lack physical substance such as patents, trademarks, copyrights, data rights and trade secrets – poses a significant and growing risk to organisations.
Risk & Innovation
Due to government’s efforts to halt the spread of the COVID-19 virus, South Africa has undergone various levels of government-sanctioned lockdowns. As a result, many businesses have had to adapt its business operations, allowing staff members to work from home. As the work-from-home wave grows, more companies are rethinking their office space and utilising less, leaving property owners to rethink the use of space.
Business Insurance
The violent and destructive protest action of the last few days has thrown supply chain risk into stark contrast yet again, with businesses scrambling to secure the weak links, safeguard lives and property and reduce the risks to business continuity as far as possible.
Business Insurance
Theft, misappropriation or infringement of intellectual property (IP) – assets that lack physical substance such as patents, trademarks, copyrights, data rights and trade secrets – poses a significant and growing risk to organisations. IP is core to innovation and business growth, and with cyber incidents targeting IP on the rise, the danger of brands and IP being hijacked by cybercriminals is rapidly escalating.
Risk & Innovation
With ransomware attacks filling the headlines and the COVID-19 pandemic pushing organisations to embrace remote working and online business models, cyber security has become a top-of-mind concern for many business leaders. It should come as no surprise, then, that cyber-attacks and data breaches rank first on the list of the top 10 risks in Aon’s 2021 Global Risk Management Survey.
Risk & Innovation
In Aon’s 2021 Global Risk Management survey, failure to innovate or meet client needs was pegged as the #10 risk facing businesses around the globe. The COVID-19 pandemic and subsequent global lock-downs have magnified the need for digital technology solutions to drive operational efficiencies and deliver service to clients.
Risk & Innovation
With trade already heavily challenged by the COVID-19 pandemic, the recent wave of riots, looting and destruction of businesses in Gauteng and Kwa-Zulu Natal has exponentially exacerbated matters, presenting a tipping point for many businesses as to whether they survive or not. The violent and destructive protest action is not, however, unique to South Arica with Aon’s 2021 Risk Maps finding that persistent political instability and unrest is slowing global economic rebound in the face of the ongoing pandemic.
People & Organisations
The impact of mental health on workforce productivity is well recognised. Employers hold the key to supporting emotional and mental wellbeing in the workplace, but as businesses grow their workforces globally across geographies, how can employers provide holistic, cross-cultural health and wellbeing solutions that support hugely diverse workforces?
Personal Insurance
Let’s face it – most of us cannot wait to see the back of 2021 - and are desperate for some much-needed R&R. Before you immerse yourself in the holidays, take a little time to make sure that your hard-earned and precious items are correctly insured and secure.
People & Organisation
The 2022 Top Employers have been announced by the Top Employer’s Institute, with Aon South Africa recognised as a Top Employer for an impressive fifth consecutive year.
Managing Emerging Risks
In 2020, when the COVID-19 pandemic cut a deadly swathe across the world, only 27 countries in the world experienced economic growth. Global economic growth dropped from an annual rate of –3.4 percent to –7.6 percent.
Notable market updates
Aon’s 2021 Global Risk Management Survey polled more than 2,300 respondents in 60 countries across 16 industries at both public and private companies. The report highlights the top 10 risks by industry and region, as well as risk readiness, associated losses and mitigation actions for each of the top 10 risks. In addition, the report includes the predicted top 10 risks in the next three years and Aon’s analysis of underrated risks.
Personal Insurance
Many families are having to contend with changing family and work structures such as taking care of elderly parents, grown children staying home for longer and working from home. These lifestyle changes are fuelling an increase in home renovations...
Managing Emerging Risks
Like most businesses, car rental companies had to tighten the proverbial belt on all operational levels including fleet sizes as a result of the COVID-19 pandemic, causing severe shortages of rental vehicles.
People & Organisations
Aon, a leading global professional services firm, launched a report into value creation and risk in M&A, providing clear strategies for buy- and sell-side dealmakers to follow in light of the complex nature of M&A today.
Managing Emerging Risks
Public markets are becoming harder for dealmakers to navigate due to a combination of factors. From the curious role played by special purpose acquisition companies (SPACs) to a revival of shareholder activism and more rigorous disclosure requirements, there is complexity at every turn.
Risk & Innovation
Consumers’ and businesses’ accelerated flight to digital during the pandemic underscores the vital importance of technology to business competitiveness. Digitally enabled business models will account for an estimated 70% of new value created in the global economy in the next ten years, according to the World Economic Forum.
Managing Emerging Risks
Many businesses are faced with an increasingly volatile political and socio-economic climate. Not only are businesses having to manage a whirlwind of change and disruption in their business models, such as technology, changing consumer behaviour, socio-demographic shifts, climate change and the pandemic, but they’re also being confronted by a heavily constrained economy and rising inflation.
Managing Emerging Risks
In the early days of the COVID-19 pandemic, entire industries came to an abrupt halt. Border closings, as well as port and factory shutdowns, disrupted global supply chains, leading to severe scarcity of materials.
Risk & Innovation
Contending with the intensity and frequency of cyber threats to business operations is a 24/7/365 challenge. While the banking sector has intensified its cyber defences, threat actors have set their sights on the retirement industry. Not only is the financial quantum at risk huge, but the wealth and sensitivity of personal data sitting within retirement funds places the employers, administrators and trustees of retirement plans at significant risk in an environment that is increasingly litigious.
Personal Insurance
Retirement is a time for you to be enjoying a more relaxed pace of life, spending time with loved ones and friends and enjoying the fruits of your working career. However, retirees could be at risk of becoming victims of cybercrime fraudsters who are targeting your ‘nest egg’.
Risk & Innovation
In his latest article, Zamani Ngidi, our Cyber Solutions Client Manager takes a closer look at data privacy and the liability that emanates from cyber related crimes for all directors and officers. If an organisation suffers a cyber breach the directors and officers are likely to face investigation as to the IT governance and data privacy controls and whether these were up to standard as outlined by the King IV report and POPIA. Is your organisation prepared to navigate the risk?
Personal Insurance
In her latest article, Mandy Barrett unpacks the financial ramifications of vehicle under-insurance and why it is important to ensure that you have sufficient cover in place for the full cost of a claim. Being better informed about current market conditions relating to used car prices, inflation and parts is why it is essential to review your sums insured.
Risk & Innovation
Many South Africans are facing financial difficulties as the costs of living rise dramatically, fuel prices soar and the economic hangover of Covid-19 still looms large in many households and businesses.
Risk & Innovation
Environmental Social Governance (ESG) and Corporate Social Responsibility (CSR) concerns are becoming increasingly challenging for the professional services and wider insurance industry and have the potential to cause damage to reputation and brand to those companies providing advice or risk services to select industry sectors.
South African Market Trends
In its 2022 Insurance State of the Market report, Aon South Africa unpacks key global insurance market trends as well as local trends that are affecting the insurance market in a volatile and unpredictable world. Insurers, looking to manage volatility, have already begun modifying coverage terms and conditions – including those related to cyber, terrorism, sanctions and war, pandemics as well as coverage territories.
Risk & Innovation
Increasingly, dealmakers recognise that almost any acquisition brings with it a series of ESG risks that are, at the same time, highly material, hard to quantify and subject to shifting goalposts. With shareholders and regulators intensifying scrutiny of companies’ ESG practices, dealmakers are in a race against time to improve ESG diligence. Find out more about this evolving risk.
Risk & Innovation
There is nothing linear about cyber security. In fact, a strategic approach to cyber resilience is circular and interactive, and importantly — informed by data. To realise the promise of sustained cyber resilience, it is critical that stakeholders — across the business — come together to assess where they sit in the circular journey. Find out more.
People & Organisations
Aon and Studyportals are providing insurance for international students that are completing their studies on European shores across 29 countries as well as Switzerland and Turkey. The program is accepted by hundreds of universities and is fully compliant with Schengen visa regulations for the Erasmus+ Exchange Program and Internships abroad. Find out more...
Risk & Innovation
Growing export-quality cannabis comes with a long list of stringent requirements, especially when you are growing cannabis for medicinal use. Aon South Africa takes a closer look at various risk factors that need to be considered throughout the cannabis growing process.
Risk & Innovation
The frequency of tax audits has increased significantly in the last two years, and it is no longer a matter of if, but when you or your business will be audited by SARS. Ann Cloete takes a closer look at Aon’s new insurance solution called “Tax Risk Insurance” that will provide you with access to some of South Africa’s leading tax experts to represent your case when you need it most.
People & Organisations
Did you know that reviewing another professional’s work can have liability ramifications? Sam Varela, our Senior Legal Risk Advisor unpacks this unique risk in her latest article.
Risk & Innovation
With the frequency of ransomware attacks increasing, it is becoming more apparent that these attacks have shifted from being oriented around liability to a focus on disruption. That is the cyber criminals’ new goal: to disrupt businesses rather than just to extract data. In our latest article we take a closer look at this trend and what it means for your business.
Managing Emerging Risks
New Aon research shows prepared leaders embrace risk and make better decisions during economic uncertainty. Find out more about our 2022 Executive Risk Survey: "Making Better Decisions in Uncertain Times”
Risk & Innovation
What happens when an event simply cannot go on? Philip Cronje, our Business Unit Manager in our Sport, Recreation and Entertainment division takes a closer look at various ‘show stoppers’ that could spell disaster for an event and how you can mitigate the risk.
Managing Emerging Risks
E-commerce has undergone a dramatic metamorphosis in recent years to the point where many of us cannot fathom a world without it! We unpack the inherent risks that come with the territory and how you can protect your personal bank account from fraudulent funds transfer activity.
Personal Insurance
The holidays are approaching at pace and most of us cannot wait for some much-needed R&R. Before you head out for that much-needed break, take a little time to make sure that your hard-earned and precious assets are correctly insured and secure.
Personal Insurance
As we face an increasingly tougher economic climate, many households are taking financial strain and tightening their purse strings to cope with the rising cost of living and soaring job insecurity. Faced with these financial pressures, there’s always the temptation to cut insurance costs in a bid to save money on what many view as a grudge purchase – until something goes wrong that is!
People & Organisation
The 2023 Top Employers have been announced and Aon South Africa has been recognised as a Top Employer in South Africa for the sixth consecutive year. Being certified as a Top Employer showcases an organisation’s dedication to a better world of work and exhibits this through excellent People policies and practices.
Risk & Innovation
Annual Weather, Climate and Catastrophe Insight report reveals $313 billion global economic loss from natural catastrophes. Prominence of droughts and heatwaves highlighted growing importance of these perils in a warming world.
Business Insurance
Maria Teixeira, our Trade Credit Specialist says that “Trade credit insurance answers an important question: Whether you are dealing with a potential bad debtor or not. Isn’t that worth knowing?” Find out why trade credit insurance is vital in a constrained economy in her latest article.
Medical Malpractice
There is never a better time to be more aware of risk management than now. In an increasingly litigious society, medical practitioners are urged to stay up to date and informed of all the rules that regulate the profession. At Aon, we understand that this is no easy task.
Personal Insurance
South Africa is no stranger to the devastating losses of weather catastrophes. In the last few years, heavy rainfalls, flooding and wildfires have increased in frequency and intensity.
Risk & Innovation
In a constrained economic environment uncertainty abounds, and how your business responds to that uncertainty is key. Most businesses will have insurance to mitigate such risks.
Personal Insurance
The start of the academic year usually brings an avalanche of added costs for many parents sending their children to school or varsity. Besides tuition fees, textbooks, stationery, electronic devices such as smartphones, tablets, laptops, printers, uniforms, sports gear and musical instruments constitute a very hefty financial investment.
Risk & Innovation
The focus on the renewable energy sector has never been higher, with South Africa besieged with overcoming the crippling impact of load shedding on households, businesses and the economy.
Insights
We are excited to welcome Dr. Nolwandle Mgoqi our new CEO for Aon South Africa. Dr. Nolwandle has held various executive roles in the financial services sector, including most recently Chief Executive of Standard Insurance Limited and Head of Insurance for Standard Bank South Africa.
Business Insurance
Clayton Ellary, from our Commercial Risk Solutions team, says that small and medium commercial businesses are being hardest hit by business underinsurance. In the context of weather catastrophes such as fire and flood which often result in losses, underinsurance on property, plant, fleets, stock, machinery and business interruption will have potentially severe consequences for the balance sheet and the ability of the business to recover from an uninsured or underinsured loss. Find out more in Clayton’s latest article…
Bespoke Business Insurance
Major construction projects are more likely to be undertaken by clients with a global footprint, attracting investors to local economic development projects. And while there is currently a strong focus on smaller commercial projects such as office blocks or manufacturing facilities, the investment is welcomed in an industry that remains under pressure.
Bespoke Business Insurance
As a tourist destination, South Africa has a great deal to offer, with many tourists flooding wildlife reserves and boutique lodges to experience an authentic African bush adventure. And while the hospitality industry gears to deliver a memorable experience, the potential remains for something to go wrong, especially when wild animals and the ‘Big Five’ are in the equation.
Environmental, social, and corporate governance
Laura Wanlass, our global head of ESG, says defining an effective ESG strategy is a journey that starts with the basics. She unpacks a strategic, data-driven approach to benchmarking, coordinating and governing that could help companies gain the insights they need to make better decisions around ESG in her latest article.
Sports, Recreation and Entertainment
In a world obsessed with the lifestyles of the rich and famous, big brands are increasingly signing up with famous A-listers to endorse their products and services. But what happens when sponsored celebs behave badly? Philip Cronje unpacks the risks of celebrity sponsorship and the value of death, disability and disgrace insurance in his latest article.
Sports, Recreation and Entertainment
Philip Cronje, our Sports, Recreation and Entertainment Business Unit Manager takes a closer look at the risks involved in organising large scale events for organisers, sponsors, contractors, suppliers, staff members and promoters; and why event liability insurance is crucial.
Risk & Innovation
In its latest report, Aon South Africa unpacks the legislative changes to the cyber landscape in South Africa in relation to the Cybercrimes Act of 2020. The report takes a deep dive into the exposures and risks corporates are faced with and how these cyber risks impact their operations and balance sheet.
Medical Malpractice
Medical malpractice is a legal concept that refers to the negligence or improper treatment of a patient by a healthcare professional, such as a doctor, nurse or other medical practitioner. When a healthcare provider fails to provide an adequate standard of care to a patient, resulting in harm or injury to the patient, it may be considered medical malpractice.
E&O
Aon publishes insights on the cyber and E&O market in our latest report, identifying how the UK/EMEA region can capitalise on a buyer-friendly environment. Find out more…
Business Property Insurance
In his latest article, our head of risk consulting, Craig Kent, unpacks the fundamentals of business property insurance and why it is important to have accurate declared insured values.
Sports, Recreation and Entertainment
Advertising agencies and production companies run on pressured deadlines and tight budgets that require impeccable project management to stay on track. But what happens when things go wrong?
Risk Management
Effective risk management programs are critical to the success of any business. They help to ensure that business operations run smoothly and that risks are proactively pre-empted, managed and mitigated as far as possible. Effective risk management programs are particularly important when it comes to managing property risk.
Personal Insurance
Many households are clamouring for alternative energy and water solutions to decrease their dependency from municipal suppliers. While solutions such as solar and gas are the most popular alternatives that consumers are turning to, each brings its own unique set of risks to be aware of and to manage.
Managing Emerging Risks
On Friday 11 March 2011, a magnitude 9.0 earthquake struck just off the East coast of Japan, causing a tsunami that claimed thousands of lives.
Intellectual Property
As we move into an increasingly digital world where the concept of the metaverse (a single, shared, immersive, persistent, 3D virtual space) is slowly finding its origins, the perception of IP and how it is evolving in this new reality is pushing the boundaries on legislative rights, fundamentally changing the concept of what it means to own intellectual property and how to protect it.
National Health Insurance
Jacqui Nel, our Business Unit Head for Healthcare, unpacks the National Health Insurance (NHI) Bill that was passed by government on 12 June 2023. Many stakeholders in the healthcare industry are concerned as to what the implications are.
Managing Emerging Risks
While fire prevention may not be the primary responsibility of a security officer, they fulfil a critical role at any site operation when it comes to fire prevention, early detection and emergency response.
Cyber Liability Insurance
Companies of all sizes will find our 2023 cyber resilience report to be a resource and tool to help inform Cyber risk decision-making in 2023 and beyond. Cyber resilience is a journey, best navigated in partnership and through teamwork.
Skills Development in the Insurance Industry
While the shortage of skills in the insurance industry is not new, it is accelerating. It demands of every insurance player – big or small – to revisit their skills development strategies and succession planning to ensure that we can meet the risk demands of our clients and ensure the sector remains healthy with continued skills development and retention of great human talent.
Business Insurance
Anything is possible, and the severity of disruptions can be devastating, if not fatal, for businesses that do not plan with intent and focus. Find out why Business Continuity Management is more critical than ever.
Renewable Energy
In his latest article, Jacques De Villiers our general manager for commercial inland, unpacks risk and insurance matters in a shifting energy market, looking at ways to regain energy security through renewable energy.
Sports, Recreation and Entertainment
A hole-in-one is considered one of the most elusive but most wanted achievements in the golfing world, which is why marketers often offer a hole-in-one prize on a designated hole during a golf day. Philip Cronje, our sports, recreation and entertainment business unit manager, discusses hole-in-one prize indemnity cover and why it is crucial for marketers to consider at their next golf day.
Business Insurance
Being adequately prepared for major business interruption events has never been more crucial. Yolenda Makhathini unpacks the importance of having the correct business interruption covers in place in her latest article.
Commercial Risk
Unprecedented levels of load-shedding have been the catalyst for a dramatic increase in solar energy installations. We unpack solar installations from a risk management perspective during its installation and the maintenance thereof once installed.
Risk Consulting
In his latest article, Craig Kent, our head of risk consulting, explains why it is critical for business leaders and risk managers to realign their risk management interventions and strategies to ensure the insurability of their businesses.
Sports, Recreation and Entertainment
In his latest article, Philip Cronje, our business unit manager for sports, recreation and entertainment, unpacks the effect that climate change is having on the world of major events; and why cancellation and abandonment insurance is critical.
ESG
In her latest article, Angela Jack, our head of specialty solutions, takes a step back to examine the origins of Environmental, Social and Governance (ESG) issues and the factors that are contributing to its momentum.
People & Organisation
In her latest article, Jacqui Nel, our Business Unit Head of Healthcare, unpacks the state of South Africa’s mental well-being and how it is affecting the workplace.
RISK & INNOVATION
Parts of Johannesburg were battered on Monday, 13 November 2023 in a devastating hailstorm with golf ball-sized hailstones wreaking havoc. The frequency of severe weather storms is increasing at an accelerated pace with economic losses from natural disasters estimated at $ 313 billion in 2022 alone – with approximately 42 percent of losses covered by insurance, according to Aon’s 2023 Weather, Climate and Catastrophe Insight report.