Risk Management (September 01, 2009)

COMMODITY PRICING IS FOOD SYSTEM’S GREATEST RISK: AON REPORT Commodity price risk ranked Number 1 on a list of greatest risks faced by the food system, agribusiness and beverage industry, according to the 2009 U. S. Food System, Agribusiness and Beverage Industry Report. Issued by Aon Corporation, the report is based on data from Aon’s […]

August 31, 2009 | Last updated on October 1, 2024
1 min read

COMMODITY PRICING IS FOOD SYSTEM’S GREATEST RISK: AON REPORT

Commodity price risk ranked Number 1 on a list of greatest risks faced by the food system, agribusiness and beverage industry, according to the 2009 U. S. Food System, Agribusiness and Beverage Industry Report.

Issued by Aon Corporation, the report is based on data from Aon’s Global Risk Insight Platform, 2009 Global Risk Management Survey, and other proprietary databases.

Price volatility is a tremendous concern and a sizeable risk for both sellers and buyers in food system, agribusiness and beverage

companies, the report found. These respondents also reported the lowest state of preparedness in regulatory and legislative changes (55%), cash flow and liquidity (57%) and economic slowdown (57%).

These areas are typically more complex, difficult to control, carry a degree of unpredictability and are enterprise- wide, according to survey respondents.

The top two risks with related losses in the past 12 months were commodity price (67%) and economic slowdown (43%), according to the report.

Yukon gets $45M to prevent Whitehorse-area landslides, more money for flood recovery

Risk

Yukon gets $45M to prevent Whitehorse-area landslides, more money for flood recovery

The federal government is contributing $45 million to help prevent landslides along the Whitehorse Escarpment with the aim to protect the land under Whitehorse International Airport and its access road to the Yukon’s capital. The escarpment has been plagued by landslides in the last several years, prompting the construction of a protective barrier along the […]

By Jason Contant | May 7, 2024

1 min read

Regulator defends use of territories for rating auto insurance

Risk

Regulator defends use of territories for rating auto insurance

Ontario’s auto insurance regulator is allowing insurers to explore different ways to rate for territories other than the standard — and rigid — postal code method, but the regulator won’t be banning territorial rates, the regulator’s top exec confirmed Monday. Mark White, CEO of Ontario’s Financial Services Regulatory Authority (FSRA), addressed a question about the […]

By David Gambrill | March 4, 2024

3 min read

Earthquakes Canada receives hundreds of reports in B.C. after 4.9 magnitude quake

Risk

Earthquakes Canada receives hundreds of reports in B.C. after 4.9 magnitude quake

VICTORIA – Earthquakes Canada says a 4.9 magnitude earthquake was recorded Sunday afternoon and public reports poured in from hundreds of kilometres away from the event’s epicentre. John Cassidy, a seismologist with Natural Resources Canada, says people over a “very wide region” of the province have reported feeling the earthquake, which hit just before 3:30 […]

By Jason Contant | December 18, 2023

2 min read