UK-based risk, retirement and health professional services company Aon plc on Monday (11 January) launched its new fuel insurance solution, designed to help companies protect against rising fuel costs.
Backed by AAA-rated credit insurance, the coverage will be activated if the cost of fuel rises and exceeds an agreed limit.
The policy will cover the difference between the agreed price and the higher price, paid out monthly, to help companies manage their fuel cost exposure and avoid significant spikes in market price.
This insurance product can provide a valuable solution to companies that consume large amounts of fuel, including marine, aviation, construction, mining and energy, and is one of the first of its kind commercially available in the sector.
“Aon is committed to identifying, understanding and developing innovative solutions to meet our clients’ evolving needs,” said Chris Bhatt, Global Head of Sales, Marine, Aon
“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.”
Photo credit: Aon plc
Published: 13 January, 2021
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