Aon Risk Solutions has formed a risk-pooling practice to provide comprehensive property, casualty and employee benefits products for organisations involved in group purchasing.

The practice will address issues such as pool administration and risk transfer for public and private sector groups with tightening budgets, Aon says.

It will suit government agencies, higher education institutions, professional groups, industry associations, public and private authorities, school districts and religious institutions. Consortiums, reciprocals, trusts, associations, compacts and joint powers can also benefit.

Aon says the practice will also offer proprietary data analysis to identify risks for each pool, measure operational efficiency and develop pool-specific insurance through Aon eSolutions.

Tom Fitzgerald, CEO of Aon Risk Solutions’ US retail operations, says risk pooling “is an increasingly important strategy to help clients achieve long-term continuity”.