Australian regulators probe insurers in Greensill collapse as Marsh named broker

Australian regulators probe insurers in Greensill collapse as Marsh named broker

Australian regulators probe insurers in Greensill collapse as Marsh named broker

QBE has denied any exposure to supply chain financing firm Greensill, which filed for insolvency earlier this month, amid regulatory probes and legal challenges concerning the company’s collapse. Meanwhile, the Financial Times (FT) newspaper has named Marsh & McLennan as Greensill’s commercial insurance broker. Australian regulators APRA and ASIC said they are working together to untangle Greensill’s liabilities and the…

Growing number of companies fear supply chain cover won’t meet their needs

Growing number of companies fear supply chain cover won’t meet their needs

Growing number of companies fear supply chain cover won’t meet their needs

Although more organisations reported partial or full insurance cover for supply chain disruption last year, a growing number fear that the insurance market won’t meet their needs going forward, according to a poll by the Business Continuity Institute (BCI). The BCI’s Supply Chain Resilience Report 2021 is based on a survey of individuals, including risk managers, at organisations across the…

Covid-19 drives record supply chain disruption and renewed focus on risk, finds BCI survey

Covid-19 drives record supply chain disruption and renewed focus on risk, finds BCI survey

Covid-19 drives record supply chain disruption and renewed focus on risk, finds BCI survey

Organisations from across the world reported more supply chain disruption in 2020 than any time in the last 12 years, with Covid-19 the main cause and having a big impact on Tier 2 and beyond, finds the BCI Supply Chain Resilience Report 2021. The survey of more than 173 individuals – including risk managers and business continuity professionals – from…

Covid-19 and ESG demand greater supply chain risk transparency

Covid-19 and ESG demand greater supply chain risk transparency

Covid-19 and ESG demand greater supply chain risk transparency

Supply chain risk management must go deeper to cope with more frequent and severe shocks, as the pandemic highlights that many companies do not fully understand the risk. Covid-19 is putting supply chains under immense strain, adding to existing pressures from natural catastrophes and political risks. The pandemic, for example, has caused severe delays in shipping. A shortage of containers…

Half of UK corporates set to increase risk management focus on back of Covid-19

Half of UK corporates set to increase risk management focus on back of Covid-19

Half of UK corporates set to increase risk management focus on back of Covid-19

Almost half of UK corporates surveyed by Aviva expect to increase their focus on risk management this year, with roughly three quarters planning to make changes to current practices. The poll of 1,260 business leaders from organisations of all sizes, industries and locations across the UK, finds that a third expect to increase their focus on risk management in 2021.…

Supply chain risks to hit hard in France as insolvencies rise

Supply chain risks to hit hard in France as insolvencies rise

Supply chain risks to hit hard in France as insolvencies rise

As some believe that vaccinations and economic recovery will bring their companies some peace of mind in 2021, a French consultancy has warned the worst is yet to come for supply chain risks. According to Laurent Giordani, a partner at Paris-based KYU Associés, even companies that have managed to avoid supply chain disruptions during the Covid-19 pandemic may struggle later…

Supply chain risk set to escalate as NDBI cover evaporates

Supply chain risk set to escalate as NDBI cover evaporates

Supply chain risk set to escalate as NDBI cover evaporates

Despite initial fears and severe restrictions on the movement of people, the Covid-19 pandemic has so far caused limited disruption to global supply chains. But the worst may be yet to come, an audience of French risk professionals was told late last week. “The Covid crisis has made supply chains more fragile, but we are in a somewhat anesthetised mode,”…

Pandemic shakes up top risks facing global firms, finds AGCS Barometer

Pandemic shakes up top risks facing global firms, finds AGCS Barometer

Pandemic shakes up top risks facing global firms, finds AGCS Barometer

Business interruption (BI) has reclaimed its position as the top risk facing global firms, followed by a pandemic outbreak in second place and cyber incidents a close third, after taking the number one spot last year, according to Allianz Global Corporate & Specialty’s (AGCS) Risk Barometer 2021. BI held the top spot for four consecutive years in the Allianz Risk…

European firms name cyber as top risk for 2021 in AGCS poll

European firms name cyber as top risk for 2021 in AGCS poll

European firms name cyber as top risk for 2021 in AGCS poll

Cyber incidents have retained their position as the number one risk facing businesses in Europe during 2021, with business interruption (BI) in second place and pandemic outbreak third, finds a poll of risk experts and business leaders by Allianz Global Corporate & Specialty (AGCS). BI’s position is unchanged from last year, while pandemics are a new entry in the top…

Covid-19 supply chain impact will roll into 2021, says the BSI

Covid-19 supply chain impact will roll into 2021, says the BSI

Covid-19 supply chain impact will roll into 2021, says the BSI

Global supply chains suffered unprecedented disruption as Covid-19 struck and many of these risks will impact business into 2021, according to the British Standards Institute (BSI). After studying data during the past year, the BSI and supply chain intelligence platform SCREEN found the economic fallout from Covid-19 sparked an increase in targeted cargo thefts, more human rights violations against migrants…