For workers’ compensation personnel who face supply chain shortages and delays to providing injured worker care, there are some effective strategies to mitigate disruptions.
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?”
As supply chains continue to lean into a digitized marketplace, it is imperative that risk managers view every potential threat that could manifest into a true cyber catastrophe.
In their annual risk report, Allianz reported that the risk of pandemic outbreak skyrocketed to the top of 2020’s largest risks. Other risks that are usually ranked high, including business interruption and cyber risk, became even more prominent amid COVID-19.