Aon has warned that 2005 is believed to be the most costly year ever for insurers, with 2006 set to provide more of the same.
In its 2006 Risk Report, Aon said that while businesses continue to deal with traditional risks such as employers' liability, new or re-emerging risks such as pensions scheme legacies, terrorism, pandemics, and climate change have all risen up the corporate agenda.
Dennis Mahoney, chairman and chief executive of Aon, said: “It really is a case of in with the old and in with the new as we begin 2006. Old risks aren't going away and are increasingly being supplemented by new and previously unseen threats.
"Globalisation means that risks that were once prevalent only in far-away countries are now right on our doorstep. Terrorism, pandemics and environmental risks know no boundaries. Businesses need to be ever more alert and plan ahead.
"Whilst the risks in 2006 are unlikely to be identical to those in 2005, this report provides a reminder of the extent to which companies are exposed and need to be prepared”.
