Consumers are increasingly interested in eating organic and understanding the path of their food. One technology making advanced supply chain tracking a reality is blockchain.
Businesses will certainly want to insure catastrophe-related crop damage as well as keep supply chain coverage, but that could be difficult to insure as climate change continues its devastating wrath.
Food recall costs billions in waste and lost inventory. Experts say blockchain could reduce the losses by increasing transparency and making it easier to trace the source of contaminated food.
Captives can serve as a primary-layer risk-transfer mechanism. They can also allow organizations to access reinsurance to cover difficult-to-insure losses.
Growing populations and rising property values, combined with an increase in high-severity catastrophes, are pushing the insurance protection gap to a critical level.