On Aon

In this Industry Insight episode of the On Aon podcast, Aon construction leaders explore the scale, complexity and opportunity shaping the global construction sector. The discussion examines how construction is driving global economic growth, with spending projected to rise sharply through 2030, while also creating new Risk Capital and Human Capital considerations. The conversation focuses on how construction organizations can manage increasing costs, supply‑chain pressures and insurance complexity, while also addressing persistent talent shortages, technological change and safety challenges. Key Takeaways: Construction is a critical engine of global economic growth, accounting for trillions in annual spend and employing hundreds of millions of people worldwide. Continued investment in data centers, power and critical infrastructure is set to drive growth for years to come. As projects grow larger and financing structures evolve, risk management has become a leadership discipline rather than a technical exercise. Advanced approaches to natural catastrophe exposure, project delay risk and capital allocation help organizations protect balance sheets and keep complex projects on track. Human Capital is emerging as a strategic differentiator. Talent shortages and rising technical demands mean workforce capability, safety and upskilling are essential inputs to growth — not just downstream considerations. Experts in this episode: Tariq Taherbhai, Chief Commercial Officer, Construction and Infrastructure, Aon James MacNeal, Global Industry Specialty Leader, Construction and Infrastructure, Aon Key Moments: (04:55) A look at the main risk pressures facing construction leaders — rising costs, ongoing supplychain disruption and increasing insurance and project complexity. (08:50) How construction leaders are using data, analytics and scenario analysis to understand projectlevel exposure to natural catastrophes and climate risk — moving beyond portfoliolevel views to inform smarter decisions on individual sites. (12:42) How construction organizations are responding to Human Capital challenges, including labor shortages, skills gaps, safety and the growing role of technology on job sites. Soundbites: James MacNeal: “With projects getting more complicated and private financing playing a much bigger role, solid risk management and insurance, they're not just optional anymore, they're absolutely essential.” Tariq Taherbhai: “Construction is a massive employer. If you think about it, 220 million people around the world have some sort of job in construction. It's mindboggling.”

In this Risk Capital Insight episode of the On Aon podcast, Aon credit specialists discuss how leading power and energy organizations are using Risk Capital to drive confidence, continuity and growth. The conversation centers on leadership choices that strengthen balance sheets, reinforce trading relationships and expand access to capital. Rather than reacting to external conditions, the episode highlights how credit, political risk and surety solutions are deployed proactively to support investment and long-term resilience. Key Takeaways: Credit and political risk solutions are increasingly being used as strategic tools to support growth and strengthen trading relationships, not simply to transfer risk. Credit insurance enables leaders to manage unsecured exposure with confidence, preserving flexibility and decision‑making speed. This approach supports continued trading and commercial activity while reinforcing disciplined balance‑sheet management. By strengthening the credit quality of payment streams, organizations are unlocking additional bank and investor capital. Improved cash‑flow certainty creates balance sheet headroom that supports investment, strategic expansion and long‑term value creation. Experts in this episode: James Ponsford, Global Commodities Industry Leader, Aon David Kinzel, Structured Credit and Political Risk US Leader, Credit Solutions, Aon Meera Saunders, Client Director, Structured Credit Solutions, Aon Key Moments: (3:30) How leaders are using credit solutions to create balance‑sheet headroom, manage concentration risk and sustain trading activity. (06:15) How credit insurance supports confident management of unsecured exposure as transaction sizes and values increase. (10:15) A breakdown of credit insurance, political risk insurance and surety — and how these tools can help protect payment streams, manage geopolitical uncertainty and unlock capital. Soundbites: David Kinzel: “The other area that I think we could talk about is the ability for the insurance to unlock capital. So, what we're doing is we're looking at the counterparty risk and we're essentially using credit insurance as a credit enhancement. Getting that certainty around continued payment streams just has a big effect on working with banks.” Meera Saunders: “We see sophisticated energy companies utilizing credit solutions as a tool to enable them to continue operating in their business and grow, rather than just as a way of offloading risk.”

In this Industry Insight episode of On Aon, Emma Crookes, global insurance vertical leader for Aon, sits down with Andy Marcell, CEO of Global Solutions for Aon, about how the insurance industry is evolving to meet a more complex and fast‑moving risk landscape. They discuss why insurers are prioritizing stronger data foundations, more integrated capital strategies and new approaches to talent as they adapt to emerging risks — from climate and cyber to technology‑driven change. Andy shares why insurance remains a critical enabler of global growth, how insurers can differentiate themselves through better insight and decision‑making and what it takes to stay relevant in an industry where confidence, capital and innovation are deeply connected. Key Takeaways: Data and insight are becoming the primary sources of competitive advantage. Insurers are strengthening data foundations to improve risk assessment, capital allocation and decision‑making speed in an increasingly complex environment. Risk, capital and talent strategies are deeply connected. As technology and AI reshape underwriting, distribution and portfolio management, insurers must align workforce strategy with business and risk objectives to stay ahead. Insurance plays a vital role in enabling confidence, investment and growth. By helping organizations manage evolving risks the industry supports broader economic progress. Experts in this episode: Andy Marcell, CEO of Global Solutions, Aon Emma Crookes, Global Insurance Vertical Leader, Aon Key Moments: (1:30) Andy Marcell explains why Aon launched the insurance industry vertical, moving beyond reinsurance alone to address insurers’ broader business, risk and people challenges. (5:35) Data emerges as a defining challenge for insurers, shaping how they assess risk, deploy capital and adapt to a rapidly changing market. Soundbites: Andy Marcell: “The type of skills that the insurance companies need to have are different and are rapidly changing. And so, to connect those two things, strategy and people, is more and more important than it’s ever been.”

In this Risk Capital Insight episode of On Aon, Ciaran Healy, global captives leader for Aon, is joined by Joe Peiser, Aon’s CEO of Risk Capital, to explore how rapidly shifting risk profiles and capital dynamics are reshaping the way organizations protect their balance sheets. Ciaran and Joe examine the forces driving unprecedented volatility — including weather, cyber, litigation and geopolitical risk — and discuss why traditional approaches to risk financing are no longer sufficient. The conversation highlights how insurance, alternative capital and captives are becoming more strategic levers, enabling leaders to strengthen resilience, align risk appetite with analytics, and deploy capital with greater confidence and flexibility in a changing global landscape. Key Takeaways: Insurance capacity is becoming more segmented, with alternative forms of capital such as insurance-linked securities, parametrics and structured insurance playing a growing role. Organizations are increasingly using captives as strategic platforms to access multiple sources of capital, aggregate risk across the enterprise and make more analytics-driven decisions. Effective risk financing now depends on blending insurance, reinsurance and alternative capital in a more deliberate way to better match risk to the balance sheet. Experts in This Episode: • Joe Peiser, CEO of Risk Capital, Aon • Ciaran Healy, Global Captives Leader, Aon Key Moments: (4:20) Insurance capacity is fragmented as loss severity rises, with risk transfer increasingly coming from a broader mix of capital sources such as ILS, parametric solutions and structured insurance. (8:00) A shift from transactional insurance buying to a more strategic risk financing mindset, with analytics positioned as the foundation for better capital allocation decisions. (14:45) Captives are increasingly being used as tools to deploy capital more strategically, offering flexibility, control and new ways to manage risks that traditional markets may not yet cover. Soundbites: Joe Peiser: “So a reason we created Risk Capital is because we want to make sure we can access that capital in whatever form it comes and in whatever market it comes in, because that's how we're going to generate solutions for our clients.” Ciaran Healy: “The captive is moving from a controller of insurance into a controller of capital. And that's a really interesting place to be. And I think it opens up a huge opportunity for risk professionals and all captive owners.”

In the first Industry Insight episode of On Aon, Charles Philpott and Paul Pryor explore why mining and natural resources are becoming more critical than ever before. From electrification and the energy transition to data center expansion and national security, demand for minerals is accelerating at an unprecedented pace. Against this backdrop, Charles and Paul discuss how mining companies are navigating deeper and more complex extraction, evolving geopolitical and supply chain dynamics and rising expectations around ESG and safety — while also unlocking new sources of capital and competitive advantage. The conversation also examines one of the sector’s most pressing opportunities: building the workforce of the future. As automation, AI and autonomous operations reshape mining, organizations that invest in skills, technology and compelling employee value propositions will be best positioned to attract and retain the next generation of talent. Key Takeaways: Natural resources underpin the modern economy, from electrification and decarbonization to data center growth — placing mining at the heart of global growth and resilience. End‑to‑end visibility across the mining value chain — from extraction and processing to transport and infrastructure — is increasingly essential as demand for metals such as copper, gold and critical minerals accelerates. Talent and technology are becoming sources of competitive advantage. Mining companies that embrace automation, AI and differentiated employee value propositions will be better positioned to secure future skills and sustain long‑term performance. Experts in this episode: Charles Philpott — Global Natural Resources Leader, Enterprise Client Group, Aon Paul Pryor — Global Mining Practice Leader, Aon Key moments: (4:10) As the natural resources industry transforms and makes more use of autonomous vehicles and autonomous operations, so too are they exposed to greater technology and cyber risks. (5:35) Extraction is getting more difficult, the new deposits are deeper and complex geologies and at the same time the demand for minerals will increase about six times through 2040. (9:30) Data centers depend on mining — from construction materials to battery metals and cooling systems — underscoring how critical minerals underpin every layer of modern data and cloud capacity. Soundbites: Paul Pryor: “The biggest issue facing natural resources companies today is trying to satisfy the world's incessant demand to improve the quality of life.” Charles Philpott: “Few industries are under as much pressure and opportunity as mining right now.”

On Aon — Episode 100Title: Building Climate Resilience: Insights from Aon’s 2025 Climate and Catastrophe ReportIn the first Risk Capital Insight episode of On Aon, host Alexandra Lewis is joined by Aon leaders Tracy Hatlestad and Michal Lorinc to discuss the findings of Aon’s 2025 Climate and Catastrophe Insight report. They explore another year of more than $100 billion in insured catastrophe losses, driven largely by secondary perils, and what a changing climate means for people, infrastructure and the global economy.Key Takeaways:Climate risk is increasingly blurring lines between property and people risk, demanding more integrated decisions.Secondary perils, including severe convective storms and wildfire, are now major drivers of global insured catastrophe losses.Alternative risk transfer and parametric solutions complement traditional reinsurance to manage climate‑driven volatility.Experts in this episode: Tracy Hatlestad — Executive Managing Director and Global Head of Property, Reinsurance, AonMichal Lörinc — Head of Catastrophe Insight and Impact Forecasting, AonKey moments: (1:35) In 2025, secondary perils were the primary driver of insured catastrophe activity, totaling around $100 billion.(5:40) The insurance protection gap was the lowest on record in 2025, but half of the losses still went uninsured globally.(6:05) Heat waves are one of the primary impacts on human health and we saw the impacts of heat waves around the world in 2025 with 42,000 fatalities from heat-related issues alone.Soundbites: Michal Lorinc:“One ‘under-average’ year is no reason for complacency. Organizations need to keep strengthening their resilience for the future.”Tracy Hatlestad:“We also saw the lowest protection gap on record for the year 2025, and that’s predominantly as a result of the fact that 81% of losses are coming from the United States.” Find out more:2026 Climate and Catastrophe Insight

On Aon — Episode 98How Leaders Stay Ahead: Balancing Risk and Strategic ChoicesIn this episode of On Aon, Aaron Olson, executive vice president for Aon's Enterprise Client Group and co-author of the book Strategy and Change: Finding Opportunity in Disruption Through Insight, Choice and Risk, is joined by co-authors Richard Waterer, Aon's global risk consulting leader, and Ward Ching, Aon’s managing director of global risk finance. Together, they explore what it takes for leaders to stay ahead in a world of volatility — sharing approaches to balance risk, embrace change and uncover new paths for growth and innovation.Key takeaways: Aaron, Richard and Ward explore three key themes:Insight – To succeed, organizations must strengthen pattern recognition and systems thinking to surface blind spots and assumptions before they turn into costly errors.Choice – Business leaders need to focus on improving strategic choices and understand the impact of each decision to ensure every choice supports their goals.Risk – Rather than avoiding risk, organizations can harness it as a catalyst for growth — aligning risk appetite, feedback from incidents and execution so organizations can move boldly and adapt quickly.Experts in this episode:Aaron Olson — Executive Vice President, Enterprise Client Group, AonRichard Waterer — Global Risk Consulting Leader, Commercial Risk, AonWard Ching — Managing Director, Global Risk Finance, AonKey moments:(3:34) Aaron explains the concepts of insight, choice and risk — critical capabilities for navigating disruptive change that leaders and organizations will need to build.(5:53) Ward highlights how we have moved from the information age to the digital age, where information is being curated in fundamentally new ways, which reshapes the way leaders need to think about strategic choice and disruption. (10:20) Richard explains how risk has often been misunderstood as something to avoid when it can be seen as a driver of insight and opportunity.Additional Resources:Strategy and Change: Finding Opportunity in Disruption Through Insight, Choice and RiskFindings from Aon’s Global Risk Management Survey SoundbitesRichard Waterer:“So the idea is simple by clearly defining how much risk an organization is willing to take. You don't just draw a line between danger and safety, you actually create a runway for innovation and growth.”Aaron Olson:“We have found...during times of disruptive change, insight becomes particularly important, both the use of analytics to understand and evaluate situations and the importance of addressing and considering blind spots.”

On Aon — Episode 96Opportunities in a Changing Market — What Risk Buyers Need to Know November 20, 2025420 words … about a minute readWhat’s new: In the latest episode of On Aon, Global Chief Broking Officer Cynthia Beveridge and Global Chief Claims Officer Mona Barnes discuss emerging trends in the commercial risk market as it heads towards the January renewals period. They discuss how the market is becoming increasingly fragmented and explain the factors driving recent developments in claims, including heightened natural catastrophe exposures, macroeconomic and geopolitical pressures, rising cyber ransomware incidents and adverse litigation trends currently unfolding in the U.S.Experts in this episode:Cynthia Beveridge — Global Chief Broking Officer, Commercial Risk, AonMona Barnes — Global Chief Claims Officer, Commercial Risk, AonKey Takeaways:As organizations approach January renewals, they must adapt to a fragmented and rapidly evolving insurance market by reviewing and strengthening their risk programs.Despite generally favorable pricing, risk buyers face rising claims complexity and costs driven by natural catastrophes, inflation and adverse litigation trends.Success in today’s environment depends on close collaboration with claims advocates and leveraging insurer performance data to build resilient strategies for emerging risks.Key moments:(2:01) Insurers are generally growth-focused, competing aggressively and are looking to differentiate themselves through pricing, terms and risk improvement support.(4:17) Natural catastrophes, increasing ransomware severity, macroeconomic pressures and adverse litigation trends are shaping claims trends.(8:48) The growing availability of data and alternative sources of capital such as parametric, captives, catastrophe bonds, multiyear structured and facultative solutions are helping clients.Soundbites:Cynthia Beveridge“Capacity has increased across much of the market during 2025. It's flowing in from both traditional insurers and the reinsurance market, but notably it's fragmented. While most placements can achieve full tower limits, the towers are really compromised. It's comprised of more insurers and more segments.”Mona Barnes“Claims inflation is contributing to increasing costs of everyday items as companies are looking to recoup losses by raising prices on all items, including food, housing and medical care — as well as insurance.”Listen for more: The “On Aon” podcast is available on Spotify, Simplecast and Apple Podcasts (iTunes)More Like This:Q3 2025: Global Insurance Market OverviewAon’s Global Risk Management SurveyCyber and E&O: Pricing Holds, but Market Momentum is Shifting4 Strategies to Navigate Insurance Claims TrendsOptimizing Your Property Program: How to Use a Soft Market to Build Resilience

October 21, 2025435 words…about a minute read What’s new: In the latest episode of On Aon, Vice President of Global Benefits Kathryn Davis and Global Business Development Director of Global Benefits Celine Ng tong examine the findings from two important Aon reports: the 2025 Global Benefit Trends Study and the 2026 Global Medical Trend Rate Report. The Global Benefits Trends Study highlights how multinational organisations are reshaping their benefits strategies by focusing more on employee value, controlling costs and improving global oversight. We also spotlight the 2026 Global Medical Trend Rates Report, which details that even as global inflation cools in some markets, health care costs remain under significant pressure and have become a pervasive business challenge. Experts in this episode:Kathryn Davis — Vice President, Global Benefits, AonCéline Ng tong — Global Business Development Director, Global Benefits, Aon Key Takeaways: Multinational businesses are making employee benefits more meaningful and visible, with a strong emphasis on transparency and providing greater choice.Effective governance is a top priority, with businesses using data, engaging senior stakeholders and applying disciplined change management to implement benefit strategies.Technology, including AI, is increasingly used to personalize benefits and enhance employee experience, helping businesses deliver greater value.Medical benefit cost growth is slowing and may be plateauing globally, but aging workforces are expected to drive ongoing increases in both medical and retirement benefit expenses. Key Moments:(1:05) The results of the Global Benefits Trends Survey reveal where employers focusing when it comes to their benefit programs and how they can enhance their programs in the eyes of employees.(4:22) The Global Medical Trend Rate Report shows a decrease in the topline rate for a second consecutive year, to 9.8%, from 10% last year. But with costs having gone up so much in recent years, what aren’t employers looking at when they look at spend?(8:12) An aging population has ripple effects throughout a company’s health, wealth and talent strategies. Higher healthcare costs, combined with higher salaried employees mean higher costs overall. Soundbites:Céline Ng tong“Number one, a big strategic focus on how do we do more and how do we enhance the perception of our benefits programs in the eyes of our employees.” Kathryn Davis“We may have finally hit the peak in medical trend, or at least that we're starting to plateau on a global level. So maybe (it is) time that we stop hyper focusing on cost containment from just medical inflation.” Listen for more: The “On Aon” podcast is available on Spotify, Simplecast and Apple Podcasts (iTunes) More Like This:2025 Global Benefits Trends StudyThe Global Medical Trend Rates Report 20265 Data-Driven Ways HR Can Optimize CostsBuilding a Global Benefits Identity in an Era of Cost Containment

On Aon — Episode 92 Title: The Longevity Shift: Rethinking Aging in the Modern Workplace In the latest episode of Better Being, we examine longevity and how it is becoming an important topic for businesses.Susan Fanning, Aon’s Head of Wellbeing for Asia-Pacific, and Professor Andrea Maier from the National University of Singapore examine how, as people live longer healthier lives, businesses can foster a diverse and dynamic workplace by harnessing the expertise of older employees. Key Takeaways:The distinction between “healthspan” (the number of years of good health) and lifespan (how long someone lives) is crucial — as is working to reduce the gap between the two.There is a common misconception that aging equals decline. Prof Maier explains that, while most people experience some poor health, much of the aging process is within our control.Employers have a significant role in promoting longevity by adopting proactive approaches to employee health. This includes considering biological age when determining job roles. Experts in this episode:Susan Fanning — Head of Wellbeing Solutions, APAC, Aon (Host)Prof Andrea Maier — National University of Singapore Key moments: (2:15) Some of our lifestyle habits are so poor that they will have a detrimental effect on our health and lifespans. (8:00) Rather than insisting on an abrupt end to a working life, it’s better for employers and employees to have a gradual “step-down” process. (14:55) A switch in careers every 20 years or so will open people up to experiences of different topics, different workforces and different ways of working. Additional Resources:3 Strategies to Improve Career Outcomes for Older EmployeesWorkplace Wellbeing | Aon Soundbites:Prof Andrea Maier:“So I would say it's not only a medical revolution, but it's societal revolution. And there was also a cultural revolution we are changing.” Susan Fanning:So, as we're seeing in terms of healthspans and lifespans increase, we're also starting to see that retirement systems as well as healthcare systems are coming under pressure.

Financial wellbeing is an increasingly important topic for both employers and employees. A survey of multinational companies by Aon found that 88 percent of employees surveyed experienced financial stress, which has a major impact on resilience, self-esteem and relationships. In this episode of Better Being, our experts — Paul Gordon, Aon’s chief commercial officer for global financial wellbeing, and Fleur Iannazzo, financial wellbeing coach and content creator at Aon — explore how understanding and reshaping financial behaviors can lead to lasting financial security. Key Takeaways:There is a notable disconnect between what employees expect and what employers currently provide in terms of financial education and support.Understanding individual financial behaviors is essential for designing effective financial wellbeing programs that resonate with both employees and organizational goals.Financial wellbeing issues vary by sector — some industries face talent loss due to financial mismanagement, while others see spikes in cyber fraud during economic downturns. Experts in this episode:Paul Gordon, Chief Commercial Officer for Global Financial Wellbeing, Aon (Host)Fleur Iannazzo, Financial Wellbeing Coach and Content Creator, Aon Key moments:(3:24) Financial stress is felt across all salary levels and industries. (5:33) There’s a big mismatch between employee expectations of financial wellbeing support and what employers are providing. (13:00) Financial wellbeing is coming to the top of everyone’s agenda. Additional Resources:2025 Employee Sentiment Study Soundbites:Paul Gordon: "So just retaining your best people by helping them understand their attitudes to money and how they can do things differently helps that organization." Fleur Iannazzo: "When you feel secure financially and resilient financially, it really improves your relationships and your emotional connections to people because of that independence."

The key to ensure employees grow — and stay — at an organization is creating a supportive environment where everyone can flourish. In this episode of Better Being, host Susan Fanning, Aon's Head of Wellbeing Solutions in Asia Pacific, talks to executive coach Tini Fadzillah, contributing author of The Purple Book of Coaching, about how leaders can develop both their task and relational skills to effectively support their teams. Key TakeawaysFostering a team environment that supports everyone contributes to resilience and wellbeing.Feedback from employees through surveys and data collection is vital to identify areas that need attention and foster a supportive environment.Strong social connections are linked to greater fulfillment and performance.Inter-functional collaboration builds trust and psychological safety. Experts in this episode:Susan Fanning — Head of Wellbeing Solutions, APAC, AonTini Fadzillah — Executive Coach and Trainer Key moments:[09:33] Why organizations should be more like a village and develop a communal approach.[12:41] Leaders who model wellbeing behaviors contribute to a more engaged and productive workforce.[15:21] The importance of trust within teams. Additional Resources2025 Employee Sentiment StudyAon Asia Mental Health Index Report Soundbites:Tini Fadzillah: "Can I trust you to reveal what's really going on in my heart and my head? Yeah. And trust meaning that you're not going to use it against me." Tini Fadzillah: "We're better with a few brains working together versus one brain trying to figure everything out."

As the construction industry navigates emerging risks and evolving opportunities, this episode explores how these dynamics are reshaping insurance and surety strategies worldwide. Hosts Tariq Taherbhai and James MacNeal unpack the latest insights from Aon’s 2025 Global Construction Insurance and Surety Market Report, offering expert perspectives on market trends, regional dynamics and strategic recommendations for navigating today’s complex risk environment.Key takeaways:North America remains the strongest surety market, driven by public infrastructure and inflation-driven growth.High-tech manufacturing projects, such as data centers, are a major global growth driver for construction insurance and surety markets.APAC markets, especially India and China, are rapidly maturing, with increased use of commercial and construction guarantees.Construction companies are advised to start early in the insurance placement process and carefully evaluate contract structures to avoid coverage gaps and delays. Experts in this episode: Tariq Taherbhai — Chief Commercial Officer, Construction and Infrastructure, AonJames MacNeal — Global Industry Specialty Leader, Construction and Infrastructure, Aon Key Moments:[1:38] Three key trends driving insurance and surety markets for the construction industry[2:58] What’s driving construction trends around the world?[5:17] Technological innovation is at the forefront of everything. [7:58] How the market is shaping up for construction liability.[10:09] The global surety market is projected to grow at about 5 percent annually for the next few years Additional Resources:2025 Global Construction Insurance and Surety Market Report Soundbites: “There seems to be an insatiable build going on in infrastructure, energy, high-tech manufacturing projects – for example, data centers that are just expanding rapidly globally.” — James MacNeal“Start early. Begin any insurance placement process as early as possible, especially if you have a complex, high-risk project. Underwriting timelines are lengthening due to increased scrutiny and demand.”— James MacNeal