Crisis Management

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Global Crisis Solutions

A crisis may be unpredictable, but it should not be unforeseeable. In today’s volatile environment, organizations are vulnerable to a wide range of crises. They have to navigate an increasing number of evolving and interconnected risks, all the while making decisions that have significant impacts on their customers, employees and balance sheet.

How Aon Can Help

Aon’s Global Crisis Solutions team helps organizations prepare for crisis events involving people, property and products by providing consultative risk mitigation and placement strategies. We combine this with crisis response expertise to enhance our clients’ ability to prepare for, navigate and respond to a crisis while minimizing organizational disruption and damage.

Going beyond traditional risk transfer solutions, our global network of crisis specialists offers a full range of consultancy services, helping clients to quantify their risk exposure and find the right balance between risk retention, risk management and risk transfer.

Our team of specialist brokers, crisis consultants and in-house claims management combines threat assessment, impact analysis, crisis management and response with individually structured insurance programs. Our consultative approach means our clients can choose the most appropriate measures for them and implement these measures to better protect their balance sheet, people, brand and reputation.

Aon’s interactive Risk Maps Portal provides insights into political risk, terrorism and political violence.

What Coverage is Available?

Broadly, we address risk in the following areas, providing local guidance where appropriate:

  • Political Risk and Structured Trade Credit

    Emerging markets have become increasingly important as businesses look to alternative areas for growth. However, in these economies, assets, contracts and loans or supply chains can be adversely affected by geopolitical uncertainties. The broad range of political risks companies face can include:

    • Expropriation or creeping expropriation
    • Unilateral termination of contracts
    • License cancellation, embargo, import/export restrictions
    • Terrorism, civil unrest, war and related acts of violence
    • Restrictions on the movement of funds across borders
    • Non-payment or non-performance by government buyer or supplier
    • Adverse regulatory changes that render investments uneconomic
    • Revocation of concession rights
  • Product Recall and Product Contamination

    Whether a consumable, automotive or consumer product, product recall and contamination is a concern across the industry’s entire supply chain. The consequences of a contamination or recall incident can range from damage to a company’s bottom line to loss of customer support or brand reputation. Product recall and contamination policies are designed to mitigate the financial consequences of an incident as well as provide expert resources to help respond to a crisis.

    Coverage can include first and third-party costs ranging from recall and replacement costs to business interruption and extra expense. Policies can be tailored for each client.

  • Terrorism and Political Violence

    The threat of terrorism and political violence, as well as widespread civil unrest, has increased around the world. Terrorism and political violence insurance offerings may include standalone policies to address the following:

    • Terrorism
    • Political Violence (including insurrection, revolution, rebellion, mutiny, coup d’etat, war and civil war)
    • Strikes, Riots, Civil Commotion (SRCC)
    • Malicious Damage
    • Terrorism Liability
  • Kidnap and Ransom

    As our world becomes more volatile and complex, organizations need to consider the threat of kidnap, ransom and extortion (KRE). Aon has a long history of creating and designing effective KRE coverage for clients. Where applicable, this typically includes kidnap, extortion, detention and hijacking and is commonly extended to include loss of earnings and hostage crisis. Aon’s KRE coverage design may include (as applicable/relevant and as agreed with insurers):

    • Broadly covered person’s language carefully tailored to fit each client’s unique requirements
    • Emergency evacuation for both travelers and expatriates
    • Loss of earnings caused by a covered incident
    • Threat coverage
    • Missing persons
    • Express kidnap
    • Virtual kidnap
    • Expanded definition of ransom
    • Assault coverage
    • Child abduction

  • Contingency

    Aon provides a range of worldwide contingency products:

    • Event cancellation: Designed to indemnify a client in the event of the necessary and unavoidable cancellation/postponement/abandonment/curtailment/relocation of an event by protecting the financial investment the client has made.
    • Non-appearance: Designed to protect against the financial consequences a client would suffer following the necessary and unavoidable cancellation of an event due to the non-appearance of any key person such as entertainers, performers, artists and public speakers.
    • Prize indemnity: Allows companies that offer high-value prizes some peace of mind by insuring the prize amount for a fraction of its value.
    • Contractual bonus: Professional sports clubs and sponsors often have contractual obligations to pay players bonuses if they achieve certain feats. This insurance will indemnify the sports club/sponsor if these targets are met.
    • Over redemption: Sales promotions such as two-for-one deals and trial offers often work as a great sales incentive, but companies risk the promotion becoming more successful than expected and exceeding a client’s marketing budget.
  • Media and Entertainment

    Production insurance may cover the following production-related risks:

    • Cast: Non-appearance of cast (due to illness or injury) that causes a financial loss to production
    • Extra expense: Something totally beyond the control of production causes a delay or financial loss to production.
    • Physical damage to owned/hired equipment
    • Physical damage to props, sets and wardrobe
    • General/Public Liability

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Emerging Trends in Product Recall and Product Contamination Insurance

The first line of defense against product recall or product contamination risk starts internally. Companies must have proper quality control and safety plans, manufacturing procedures, supply chain management, traceability capabilities and a recall plan.

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