Better data analytics is enabling a number of new parametric insurance solutions from a product to cover losses caused by an active assailant to ways to manage supply chain risk.
In March, a large container ship blocked the Suez Canal for six days, costing nearly $400 million an hour in global trade losses. Now, cargo and vessel owners are asking, “Who foots the bill?”
At the heart of every plan should be strategies to maintain the effective delivery of critical products and services. These must include giving people charged with responsibility for crisis management clearly defined actions that could be taken to maintain the business.
As the economic effects of COVID-19 rage on, many business interruption losses won’t be covered, threatening insurers with grueling litigation for years to come.
There are numerous steps employers can be taking now to minimize damage to properties and harm to employees as work forces shelter in place during the pandemic.
This environmental broker examines whether or not pollution legal liability policies can provide some relief to enterprises struggling with the effects of COVID-19.