As you have probably heard, there has been another setback to the Aon/WTW merger.
Last week, the Department of Justice (DOJ) in America released a lawsuit to block the proposed $30bn merger between Aon and Willis Tower Watson. The reason for the lawsuit was that the DOJ feared the creation of a "broking behemoth" which would eliminate any competition in the insurance space and also increase prices.
Aon and WTW have understandably expressed disagreement at the lawsuit and accused the DOJ of not understanding their business, their clients and even the markets they are working in.
Whether the lawsuit is justified is not what should be important to asset owners. Indeed, the ongoing uncertainty, and the length of time this process has taken, may impact the service Aon or WTW offer. Asset owners therefore must assess and review their providers and look elsewhere before everyone does. Having a plan B is good governance.
This reviewing process is not something which should be daunting but a natural part of good business practice. Avida International can help you assess your provider using our Avida International Governance Scorecard (AIGS©). This tool can help you navigate through the whole process and enables you to regularly assess your providers. To date we have carried out more than 100 assessments, which enable you to benchmark your provider's service against the universe.
Why wait until it is too late when you can start the evaluation process now?