13 Aon Risk Control Measures To Implement

The implementation of effective risk control measures is crucial for any organization seeking to minimize potential threats and maximize opportunities. Aon, a leading global professional services firm, provides comprehensive risk management solutions to help businesses navigate complex risks. Here, we will explore 13 Aon risk control measures that organizations can implement to enhance their risk management capabilities.

Introduction to Aon Risk Control Measures

Aon’s risk control measures are designed to help organizations identify, assess, and mitigate risks across various categories, including property, casualty, financial, and cyber risks. These measures are tailored to address the unique needs of each organization, taking into account their industry, size, and risk profile. By implementing Aon’s risk control measures, organizations can reduce their risk exposure, improve their resilience, and achieve their business objectives.

Category 1: Risk Assessment and Planning

The first step in implementing effective risk control measures is to conduct a thorough risk assessment and develop a comprehensive risk management plan. This involves identifying potential risks, assessing their likelihood and impact, and prioritizing mitigation efforts. Aon’s risk assessment and planning tools help organizations to:

• Identify and prioritize risks
• Assess risk likelihood and impact
• Develop a comprehensive risk management plan

Category 2: Risk Mitigation and Control

Once potential risks have been identified and assessed, organizations can implement risk mitigation and control measures to reduce their risk exposure. Aon’s risk mitigation and control measures include:

• Implementing risk-reducing controls, such as access controls and incident response plans
• Conducting regular risk audits and compliance reviews
• Developing and implementing business continuity plans

Category 3: Risk Financing and Transfer

In addition to risk mitigation and control measures, organizations can also consider risk financing and transfer options to manage their risk exposure. Aon’s risk financing and transfer solutions include:

• Insurance products, such as property insurance and liability insurance
• Risk retention and self-insurance programs
• Captive insurance arrangements

The following 13 Aon risk control measures can be implemented across these categories to enhance an organization's risk management capabilities:

1. Risk assessment and prioritization: Conduct regular risk assessments to identify and prioritize potential risks.
2. Risk management planning: Develop a comprehensive risk management plan that outlines risk mitigation and control measures.
3. Access controls: Implement access controls to restrict access to sensitive data and systems.
4. Incident response planning: Develop and implement incident response plans to respond to potential risks and minimize their impact.
5. Risk audits and compliance reviews: Conduct regular risk audits and compliance reviews to ensure that risk controls are effective and compliant with regulatory requirements.
6. Business continuity planning: Develop and implement business continuity plans to ensure that critical business functions can continue to operate in the event of a disruption.
7. Risk financing and transfer: Consider risk financing and transfer options, such as insurance products and captive insurance arrangements, to manage risk exposure.
8. Supply chain risk management: Implement supply chain risk management measures to mitigate potential risks associated with suppliers and third-party vendors.
9. Cyber risk management: Implement cyber risk management measures, such as firewalls and intrusion detection systems, to protect against cyber threats.
10. Property risk management: Implement property risk management measures, such as property insurance and fire safety systems, to protect against property damage and loss.
11. Liability risk management: Implement liability risk management measures, such as liability insurance and compliance training, to protect against liability claims and lawsuits.
12. Environmental risk management: Implement environmental risk management measures, such as environmental impact assessments and sustainability initiatives, to mitigate potential environmental risks.
13. Reputation risk management: Implement reputation risk management measures, such as crisis communications planning and reputation monitoring, to protect against reputation damage and loss.