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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.
Growing populations and rising property values, combined with an increase in high-severity catastrophes, are pushing the insurance protection gap to a critical level.
A recent supplier snafu saw KFC’s UK outlets run out of chicken. The growing use of analytics address supply chain and distribution vulnerabilities.
Marrying property and cyber coverage seamlessly is an area of increased focus for risk managers and underwriters.
There are billions to be made, but those transporting the product tread carefully.
Shifting strategies are influencing the way multinationals design their global programs.
Restaurant patrons call for locally sourced menus, but short supply chains up the risk of foodborne illness.
Key drivers are increased retail distress, but also bank eagerness to monetize.
Overall economic impact may reach $100 billion.
Underwriters now use the Internet of Things to help determine whether their agriculture and supermarket clients have adequate processes in place.
Nationalistic policies aim to boost American wealth and prosperity, but they may do long-term economic damage.
Manufacturing’s return will require re-evaluating insurance programs, challenging underwriters to analyze new risks.
Compliance officials rank reputational risks posed by third-party partners as their top risk, and one-third expect the risks of bribery and corruption to increase.
Insurers struggle to respond to a new regulation governing sanitary food transportation.
Companies that let their captives gather dust could be missing out on savings opportunities.
Bigger ships passing through an expanded Panama Canal translates to bigger risk accumulations.
Many small and mid-size businesses underestimate their exposure to supply chain disruption.
Ten percent of America’s bridges are plagued by deficiencies or load restrictions, threatening supply chains.
The insurance industry faces a long and arduous claims process for last year’s devastating Tianjin Port disaster.