POWERED BY MOMENTUM MEDIA
Aussie business risks “uninsurable”
The risk management sector does not currently have the solution to address catastrophic threats facing Australian businesses, Aon says.
The risk management firm expressed fears the industry is quickly losing relevance, particularly when it comes to threats like cyber attacks.
Aon said there's a significant onus on the risk industry to adapt to stay ahead of business risks or lose its key clients.
"Our industry is very sophisticated in handling smaller risks, such as health, vehicle and even safety. However...the truth is that the risk industry has struggled to develop strategies relevant to clients' needs in the catastrophic risk space," Aon Risk Solutions Australia CEO Lambros Lambrou said.
"The risk industry must stay ahead of clients and develop risk mitigation and financing strategies if they are to continue offering value and relevance," Lambrou said.
Recommended for you
The insurance company has joined this year’s awards as a principal partner.
The $135 billion fund has transitioned away from TAL Life Insurance following an “extensive tender process”.
The $80 billion fund is facing legal action over allegedly signing up new members to income protection insurance by default without active member consent.
In a Senate submission, the Financial Services Council has once again called for further clarification that the government will assess the consumer outcomes of group insurance against the enshrined objective of superannuation.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
93.34 3 y p.a(%)
2
Global X GlobalX FANG+ ETF
37.15 3 y p.a(%)
3
GAM LSA Private Shares AU I
33.96 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
29.68 3 y p.a(%)
5
Plato Global Alpha A
28.73 3 y p.a(%)
