Business Interruption - Page 1

Marine Cargo Insurance Market Rocked by Large Losses, Especially Tianjin

September 17, 2015

Large cargo losses are having a significant impact on the marine insurance sector, says Nick Derrick, chairman of International Union of Marine Insurance's cargo committee. He spoke in Berlin, at IUMI's annual conference.

Hard Lessons in Disruption: What the West Coast Port Slowdown Really Taught Us

March 9, 2015

Suhas Sreedhar, Manager, Supply Chain & Technology Thought Leadership, GT Nexus

With a tentative agreement in place between the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA), the 7-month-long West Coast port crisis has come to an end. What comes next is the final body count - what percentage of GDP shrank because of the slowdown? What was the impact on the trade deficit? Who got hit hardest, and just how hard? Then what? There may be a collective sigh of relief in the air, but can things really go back to normal? Should they?

Political Upheaval, Cybercrime Top List of Supply Chain Risk Concerns

January 23, 2015

Property Casualty

The globalization of today's economy means that businesses are more interconnected than ever, creating a greater risk of business interruption, supply chain disruption, and exposures that can quickly multiply.

Despite Increased Production, Cocoa Prices Rise, Largely Due to Ebola Fears

October 23, 2014

Supply Management

The Ebola crisis in West Africa has helped push cocoa prices up by 10 percent since August to more than £1,000 ($1,617) per tonne, and this despite rising production.

While Dangers Remain, Supply Chain Risk Recorded at 18-Month Low

August 20, 2014

CIPS

Global supply chain risk reached an 18-month low in Q2 2014, decreasing for three consecutive quarters for the first time since the 2008 financial crisis, according to the Chartered Institute of Purchasing & Supply's (CIPS) latest CIPS Risk Index (CRI).

Low-impact Incidents Are One Thing, But Are You Ready for a Major Disruption to Your Supply Chain?

June 26, 2014

Industry Week

As manufacturers seek to source quality goods at the lowest cost, supply chains that were once confined to a single country or continent have stretched around the world. Managers have become adept at addressing recurrent risks—frequent, low-impact incidents such as demand fluctuations or supply delays that affect efficiency. However, they have devoted less energy to designing supply chains that prevent or mitigate the impact of disruptive risks such as labor strikes, political unrest, regulatory shifts, and natural disasters. These events can have severe and lasting repercussions on operations, so manufacturers would do well to devise strategies that alleviate this risk.

Supply Chain Heads List of Increasingly Connected Corporate Risks

February 14, 2014

Allianz

Business interruption and supply chain risks remain atop a list of the major hazards drawing companies' attention this year, according to the recently released Allianz Risk Barometer, a survey of some 400 of the firm's corporate insurance experts from more than 30 countries. Insurers are starting to pay much more attention to supply chain when underwriting industrial risks, the global insurer says.

If You Eliminate Risk by Spending Money, Should You Keep Investing in Risk Avoidance?

October 11, 2013

Yossi Sheffi, Director, MIT Center for Transportation and Logistics

As the saying goes: "One does not get promoted based on cost avoidance." One of the reasons is that costs avoided do not show up on financial statements. On the other hand, costs incurred - including security outlays - are visible, and often become prime targets for the CFO's cost-cutting knife.

Two Thirds of Businesses in EMEA Experience Value-Chain Disruption, Report Finds

May 1, 2013

Supply Chain Standard

Almost two thirds of businesses have experienced disruption to their value chains as a result of events beyond their control, according to an Oracle survey of large organizations in the Europe-Middle East-Africa (EMEA) region.

Managing Global Supply Chain Risk

May 16, 2012

SupplyChainBrain

As a tier one automotive supplier, Active Tools International knows the importance of avoiding and mitigating supply chain disruptions. Bill Keller, president of global operations, says the company has developed written risk mitigation plans that emphasize the use of dual sourcing of parts.