Chicago — Aon eSolutions, the client technology arm of Aon Corp., a provider of global risk and insurance solutions, is releasing a new environmental module as part of RiskConsole, its market-leading, browser-based risk management information system (RMIS).

Developed in conjunction with Aon Environmental Services Group, RiskConsole's new environmental module provides organizations with the ability to effectively manage the multi-faceted environmental due diligence process, which generates volumes of sampling data, assessment reports, regulatory correspondence and other legal correspondence.

The environmental liabilities associated with the purchase, sale and development of properties can be extremely complex and costly. Risk managers must be vigilant in addressing environmental issues to reduce the possibility of losses. As an essential step in any real estate transaction, a piece of property must be evaluated for environmental contamination and potential liabilities for the new owner in regards to cleanup costs.

RiskConsole is designed to enable efficient tracking and warehousing of information to thoroughly document environmental conditions. Clients can utilize this information to resolve prospective conflicts over indemnities and regulatory actions, as well as to obtain the best-possible environmental insurance coverage for their individual properties or portfolios.

Key features of the RiskConsole module include:

  • The ability to manage the complex environmental due diligence process, as well as the environmental insurance submission and renewal process.
  • An easy-to-use, browser-based interface provides security-enabled access for brokers, risk managers, underwriters, engineers and asset managers. At renewal time, clients can provide competing carriers with access to the module, eliminating the need for underwriters to travel in order to review the hundreds of environmental documents that exist.
  • Real-time access to environmental coverage, enhancements, deductibles, limits, exclusions and claims history for individual properties, as well as information on an aggregate portfolio basis. Clients can manage environmental issues and coverage for both current properties and potential acquisitions.
  • Increased efficiencies through automatic scheduling of reports and distribution of e-mail alerts that notify clients of pre-defined risk events, such as the existence of non-compliant locations.
  • Client-owned data with complete portability regardless of broker or insurer relationship.

Source: Aon Corp.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access