AON, a leading global professional services firm, announced the launch of a North America Healthcare vertical within its Risk Capital business. The vertical will enable greater coordination between Aon's healthcare liability reinsurance practice, which serves U.S. insurers of physicians, hospitals and long-term care organizations, and its commercial risk expertise for U.S. healthcare providers. Nick Gaudiosi has been appointed North America Healthcare Industry Leader, Risk Capital, to lead it.
U.S. healthcare providers are increasingly taking on financial risk traditionally held by health plans and payers. Nearly 29% of U.S. healthcare payments now flow through value-based arrangements carrying downside risk, according to the Health Care Payment Learning & Action Network. At the same time, rising liability costs, social inflation and large verdicts are putting pressure on health systems and their insurers alike.
The vertical will help clients quantify these connected risks, decide which to retain and which to transfer, and determine how best to manage them across insurance, reinsurance, captives and alternative capital to reduce volatility.
“Healthcare providers in the U.S. are becoming risk-bearing organizations, and the insurers that protect them face the same pressures," said Joe Peiser, CEO, Risk Capital, Aon. "Through our Risk Capital structure, Aon is uniquely positioned to help connect both providers and insurers with the right capital, in the right structure, at the right time.”
Since 2025, Gaudiosi has served as Senior Managing Director and Healthcare Segment Leader for Reinsurance, where he has supported the continued development of Aon's medical professional liability reinsurance practice and team. He will continue to guide that strategy in his new role. He joined Aon in 2023 and previously served as President and COO of American Healthcare Providers Insurance Services, which he led through its acquisition by Curi.
“The risks carried by health systems and by the insurers that protect physicians and hospitals are increasingly linked," said Gaudiosi. "Bringing our reinsurance and commercial risk expertise together gives clients one integrated view of that risk and a clear strategy for financing it.”
