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
| Feb 24, 2011
Lending revives stalled projects
An influx of fresh capital into U.S. commercial real estate is bringing some long-stalled development projects back to life and launching new construction of apartments, office buildings and shopping centers, according to a Wall Street Journal article.
| Feb 23, 2011
London 2012: What Olympic Park looks like today
London 2012 released a series of aerial images that show progress at Olympic Park, including a completed roof on the stadium (where seats are already installed), tile work at the aquatic centre, and structural work complete on more than a quarter of residential projects at Olympic Village.
| Feb 23, 2011
Call for Entries: 2011 Building Team Awards, Deadline: March 25, 2011
The 14th Annual Building Team Awards recognizes newly built projects that exhibit architectural and construction excellence—and best exemplify the collaboration of the Building Team, including the owner, architect, engineer, and contractor.
| Feb 23, 2011
The library is dead, long live the library
The Society for College and University Planning asked its members to voice their thoughts on the possible death of academic libraries. And many did. The good news? It's not all bad news. A summary of their members' comments appears on the SCUP blog.
| Feb 23, 2011
Data center trends: green design, technology upgrades
While green data centers will continue to be a trend within the industry, technology is also driving infrastructure upgrades that have never been seen before, according to the 2011 Data Center Technical Market Report from Environmental Systems Design. The report also includes an overview of the national data center market, construction costs, blackouts and disaster prevention, and site selection.
| Feb 23, 2011
“School of Tomorrow” student design competition winners selected
The American Institute of Architecture Students (AIAS) and Kawneer Company, Inc. announced the winners of the “Schools of Tomorrow” student design competition. The Kawneer-sponsored competition, now in its fifth year, challenged students to learn about building materials, specifically architectural aluminum building products and systems in the design of a modern and creative school for students ranging from kindergarten to sixth grade. Ball State University’s Susan Butts was awarded first place and $2,500 for “Propel Elementary School.”
| Feb 23, 2011
Barbie's newest career: Architect
Mattel is introducing Architect Barbie this fall, following a campaign that started in 2002 to give the iconic blond a design job. The doll comes in a signature pink outfit, but if she's truly hoping to pass an an architect, shouldn't she be wearing all black?
| Feb 23, 2011
Green building on the chopping block in House spending measure
Bryan Howard, Legislative Director of the U.S. Green Building Council, blogs about proposed GOP budget cuts that could impact green building in the commercial sector.
| Feb 23, 2011
Architecture Billings hold steady after two months of improving conditions
After showing positive momentum during the fourth quarter of 2010, the Architecture Billings Index (ABI) slipped almost four points in January. The January ABI score was 50.0, which is down from a reading of 53.9 the previous month, but still reflects stable demand for design services. Any score above 50 indicates an increase in billings.
| Feb 22, 2011
LEED Volume Program celebrates its 500th certified Pilot Project
More than 500 building projects have certified through the LEED Volume Program since the pilot launched in 2006, according to the U.S. Green Building Council. The LEED Volume Program streamlines the certification process for high-volume property owners and managers, from commercial real estate firms, national retailers and hospitality providers, to local, state and federal governments.
