Menu

Reinsurance News

Aon targets rising fuel costs with new insurance solution

18th January 2021 - Author: Luke Gallin

Global insurance and reinsurance brokerage firm, Aon, has launched a new fuel insurance solution for the shipping and aviation industries, backed by AAA-rated credit insurance.

reservesDesigned to help companies mitigate the impacts of rising fuel costs, the new protection will be activated if the cost of fuel increases and exceeds an agreed limit.

Specifically, the policy will cover the difference between agreed price and the higher price, paid out monthly, to help firms manage their fuel cost exposure and avoid significant spikes in market price.

Chris Bhatt, Global Head of Sales, Marine, at Aon, commented: “Aon is committed to identifying, understanding and developing innovative solutions to meet our clients’ evolving needs.

“With the launch of this solution, we are pleased to support our clients as they navigate an increasingly complex commercial environment and address long-tail risks to promote corporate resiliency and sustainability.”

According to Aon, the new solution, which is one of the first of its kind commercially available, offers a valuable solution to companies that consume large amounts of fuel, including marine, aviation, construction, mining and energy.

Print Friendly, PDF & Email

Recent Reinsurance News

Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.

  • Only email is mandatory, but the more you tell us about yourself the better we can serve you in future!
  • This field is for validation purposes and should be left unchanged.

By submitting the form you are giving your consent to be emailed by us.

Read previous post:
SCOR deems pandemic risk uninsurable

Experts from global reinsurer SCOR have concluded that pandemics are uninsurable due to insurers not having the capacity to absorb...

Close