Developers and contractors entering new markets that are looking to mitigate their projects’ risk now have available an interactive tool that not only allows them to access real-time updates pertaining to the risk climate of municipalities across the U.S., but also to create a job-specific risk profile that takes into account such factors as local statutes and the potential for catastrophic exposure.
Aon Risk Solutions, through its Construction Services Group, has gone live with its Construction Risk Portal, a web-enhanced tool that helps clients navigate risk when working across multiple geographies simultaneously.
Aon Risk Solutions is a division of London-based Aon plc, a publicly traded global provider of risk management, insurance and reinsurance brokerage, and human resources solutions and outsourcing services. It has clients in 120 countries.
The portal is a single website with two applications:
• Construction Risk Map is a searchable reference library. It provides a macroeconomic vantage of the construction risk climate across the country, and outlines specific issues—such as litigation, legislation, and insurance requirements—that contribute to overall construction’s risk rating;
• Construction Risk Register is an interactive module through which users can create project- and location-specific risk profiles based on data about the project. The profile would have three components: State-specific statutes and case law based on construction-specific issues as tracked in the Construction Risk Map; 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; and a risk “matrix” that plots the potential severity of jurisdictional issues and catastrophic exposures on a construction project.
Aon Risk Solutions developed this interactive platform with assistance from Johnson & Bell, a real estate and construction litigation firm, and one of several information partners with which Aon has on retainer.
“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,” says Matt Walsh, Executive Vice President and Chief Broking Officer of Aon Risk Solutions’ Construction Services Group.
Aon now includes access to this portal as one of the services it offers to clients, says Walsh. The plan is to add other applications in 2015, which Walsh says could revolve around safety drivers, contractual issues, and information about risks in other countries, such as Canada.
Related Stories
| Oct 23, 2013
Architecture Billings Index hits seven-month high in September
AIA's Architecture Billings Index was 54.3 in September, the highest level since February 2013
| Oct 18, 2013
Meet the winners of BD+C's $5,000 Vision U40 Competition
Fifteen teams competed last week in the first annual Vision U40 Competition at BD+C's Under 40 Leadership Summit in San Francisco. Here are the five winning teams, including the $3,000 grand prize honorees.
| Oct 18, 2013
A picture’s worth a thousand words… if you can find it
Photographs are becoming more essential to project communication and documentation. Recently, I sat in a local airport integration project meeting in which the owner outlined their expectation for construction documentation. One of the first requirements was to provide photographs throughout the building process.
| Oct 18, 2013
Researchers discover tension-fusing properties of metal
When a group of MIT researchers recently discovered that stress can cause metal alloy to fuse rather than break apart, they assumed it must be a mistake. It wasn't. The surprising finding could lead to self-healing materials that repair early damage before it has a chance to spread.
| Oct 18, 2013
Call for submissions: AIA Emerging Professionals Summit essays
The American Institute of Architects (AIA) is seeking essays that will address what role architects will play in society in 2033.
| Oct 16, 2013
5 secrets of successful entrepreneurs
If you’re on the outside looking in, successful entrepreneurship may seem mysterious. But it isn’t. Here are five patterns of behavior that are common to successful entrepreneurs.
| Oct 15, 2013
High-rise Art Deco courthouse gets a makeover in Amarillo, Texas
Recognized as one of the most significant Art Deco courthouses in Texas, the Potter County Courthouse is modernized and restored to its 1930s aesthetic.
| Oct 10, 2013
Behind the scenes at the U40 Summit: See the $5,000 U40 Vision competition in progress [slideshow]
Sixty-five up-and-coming AEC leaders are battling for $5,000 in prizes today at BD+C's Under 40 Leadership Summit in San Francisco.
| Oct 10, 2013
Arthur Gensler to architects: Don't give away your ideas
The founder of Gensler advises dozens of up-and-coming AEC professionals at BD+C's Under 40 Leadership Summit in San Francisco.
| Oct 9, 2013
From power plant to office: Ambler Boiler House conversion
The shell of a 19th-century industrial plant is converted into three levels of modern office space.