Compliance programs must stay in step with changing regulations | Developer/contractor model builds relationships with subs | Poll: Americans support increase in taxes, tolls to fund infrastructure
September 20, 2017
Aon Construction Risk Advisor
Risk Management
Compliance programs must stay in step with changing regulations
Companies need to stay focused on compliance amid regulatory change and manage ongoing and emerging risks, says Kelly Watson of KPMG. Two essential measures that organizations must take are automating compliance and ensuring that skills, roles and responsibilities within the organization adjust along with regulatory shifts, Watson says.
Financial Executives International Daily (9/13) 
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Developer/contractor model builds relationships with subs
A number of developers are taking up the additional burden of being their own general contractors in a bid to cut costs. Doing so comes with risks associated with insuring workers and assuming responsibility for site accidents, but it helps create relationships between subcontractors and developers that assure quality work.
The Real Deal online (New York City) (9/12) 
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The Economy
Poll: Americans support increase in taxes, tolls to fund infrastructure
A survey by HNTB Corp. showed that 84% of Americans would support tax increases or tolls if the money was only spent on infrastructure. The survey also found that 73% support public-private partnerships and eight in 10 respondents support tolling existing roads.
Reuters (9/10) 
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Commercial Project News
Construction of commercial buildings continues to slow
Construction of commercial buildings declined 2.4% in July, according to the US Census Bureau, extending a decline that has lasted much of this year. Building activity now has declined in five of the past seven months.
NAREIT (9/8) 
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Project Delivery & Financing
Construction company presents 3 risk options for courthouse project
Design-build specialist Garmong Construction presented Daviess County, Ind., commissioners with three management options for building an $8 million courthouse annex. Agency management would pose no risk to Garmong and lower its rate, while a construction manager at-risk model would raise Garmong's risk and its rate, and the design-bid-build option is the most traditional choice.
The Washington Times-Herald (Ind.) (9/13) 
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News from Aon Construction Services Group
Aon to acquire leading real estate investment advisor Townsend Group, extending leadership position in investments
Aon, the leading global professional services firm providing a broad range of risk, retirement and health solutions, has entered into a definitive agreement to acquire The Townsend Group, majority-owned by Colony NorthStar Inc., a leading global real estate and investment management firm. Townsend is a leading provider of global investment management and advisory services primarily focused on real estate. Read more.
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Despite job-growth surge, US workers' pay, bonuses unlikely to rise much in 2018
Despite a strengthening economy and high job rates, most US workers are unlikely to see sizable increases in their salaries for 2018, according to Aon's 2017 US Salary Increase Survey of 1,062 US companies. It expects base pay to be 3% in 2018, up slightly from 2.9% in 2017. Read more.
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Money for nothing: Are we ready to go cashless?
"After hundreds of years of paper notes and cashiers in our banks, I predict that we will be cashless and digital within the next 30 years," says John Brosnan, head of Financial Services Group, Aon Risk Solutions. The Financial Times has described cash as a "barbarous relic," and around the world digital cryptocurrencies compete to provide people with what is designed to be a completely decentralized currency. Understanding why people are looking to stop circulating cash and what the advantages and pitfalls could be is becoming increasingly important. Read more.
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I would rather work with five people who really believe in what they are doing ... than five hundred who can't see the point.
Patrick Dixon,
business consultant
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About Aon
Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
About Aon Construction Services Group
Aon's Construction Services Group is the preeminent provider of risk and human resources solutions to general and specialty contractors, project owners, and industry stakeholders. As the segment leader, Aon provides an unparalleled platform to serve the risk management needs of global contractors, an expansive collection of offices to support service delivery for specialty firms and large infrastructure projects, and the risk management industry's leading global network, delivered through collaborative colleagues who specialize in risk management for construction activities.
Contact Aon
Ruya Qadir | CSG Solutions Marketing Manager
Aon Risk Solutions | Construction Services Group
100 Bayview Circle, Newport Beach, CA, 92660
(t) 949.608.6305 | (m) 516-462-2619 | twitter
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