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Aon Announces Industry Collaboration To Protect COVID-19 Vaccine Shipments

British insurance company Aon Plc (AON) on Tuesday announced a collaboration offering supply chain protection for international COVID-19 vaccine shipments.

Towards this, Aon has collaborated with insurtech firm Parsyl, which will function as the data platform for the solution on behalf of insurers, and specialist underwriter Ascot Group, working as the lead underwriter.

The protection package provides transparent cargo insurance coverage for the vaccines by using both sensor data and analytics. The package claims to improve upon the All-Risk Marine Cargo insurance by offering on-time payment for doses that were not kept within the agreed-upon temperature range while being packed or transported. This feature is expected to help with improved risk management and better claims support.

Aon said that on-spot reporting of any temperature deviation will also lessen the burden of losses and increase the number of doses being made available to people.

The company said that the insurance solution is open to qualified parties in the vaccine supply chain like pharma companies, government bodies, transportation and logistics companies, distributors, health systems, pharmacy chains and inoculation centers. Aon plans to donate all revenues earned from this new package in 2021 to a charity working to remove the human and economic side-effects of the pandemic.

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