CHICAGO, July 30 /PRNewswire-FirstCall/ -- Aon Corporation (NYSE: AOC), the leading global provider of risk management services, today released its 2009 U.S. Food System, Agribusiness and Beverage Industry Report. The first annual report was generated by Aon Analytics to help Aon's clients in these industries remain abreast of emerging issues and learn how peers and competitors are managing risk, overcoming challenges and capturing opportunities.
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The analysis is comprised of three main components:
- Risk insights, where the top 10 risks faced by the food system, agribusiness and beverage industry are identified and examined and expertise on risk assessment and drivers is provided.
- Client insights, where industry-specific insight into choosing an insurer, working with markets, staffing a risk management department and using captives are among the areas discussed.
- Market insights, where coverage terms and conditions; carriers requested to quote; submit-to-quote, quote-to-bind and submit-to-bind ratios; top carriers in a competitive bid situation; changes in premium rates over the past year and the most common reasons for carriers not quoting and clients rejecting a carrier's quote are addressed.
For example, risk professionals in the food system, agribusiness and beverage industries cited commodity price volatility, weather/natural disasters and product recall as the leading industry risks. In addition, the report finds that many firms are not prepared to deal with increasing regulation, such as tougher food safety laws proposed by the current U.S.