Aon launches fuel price insurance product

Global broker and professional services firm Aon has launched a fuel insurance product, designed to protect shipping and aviation firms against potential rises in fuel costs.

The cover will be activated if the cost of fuel rises above an agreed limit. The policy will cover the difference between the agreed price and the higher price, paid out monthly.

Aon said that “this insurance product can provide a valuable solution to companies that consume large amounts of fuel, including marine, aviation, construction, mining and energy, and is one of the first of its kind commercially available in the sector”.