BSI gives free access to Covid-19 supply chain tool

BSI gives free access to Covid-19 supply chain tool

BSI gives free access to Covid-19 supply chain tool

BSI has opened access to the Covid-19 section of its Supply Chain Risk Exposure Evaluation Network (Screen) tool to help companies manage the risk and boost resilience. Screen is a web-based global supply chain intelligence system that includes information to help companies anticipate, respond to and avoid supply chain disruptions. It is a subscription service, but the Covid-19 section is…

Risk managers advised on dangers of mothballed facilities

Risk managers advised on dangers of mothballed facilities

Risk managers advised on dangers of mothballed facilities

Most corporate insurance managers will be focusing on how, if possible, to call on their liability coverage to help their company through the current pandemic, but they also need to act on the property risks posed to their mothballed production facilities and industrial plants or face some potentially nasty surprises, warns Allianz Global Corporate & Specialty (AGCS). “Many companies are…

Experts put forward supply chain risk management response for triple-shock Covid-19

Experts put forward supply chain risk management response for triple-shock Covid-19

Experts put forward supply chain risk management response for triple-shock Covid-19

The business impact of Covid-19 will be unlike anything in recent memory, with supply, demand and liquidity shocks set to combine and cause unprecedented disruption, according to expert speakers on a Commercial Risk Europe webinar. The specialists said that although supply chain risk management is lacking in many organisations, there are steps they can take now to respond to the coronavirus…

New Jersey cases offer US risk managers BI and CBI coverage hopes for Covid-19

New Jersey cases offer US risk managers BI and CBI coverage hopes for Covid-19

New Jersey cases offer US risk managers BI and CBI coverage hopes for Covid-19

Risk and insurance managers should not give up on the idea that business interruption (BI) and contingent business interruption (CBI) policies could be triggered by the coronavirus (Covid-19) outbreak, according to lawyers at US law firm Anderson Kill. In a recent note issued by Robert Chesler and Nicholas Insua, the lawyers said that most commentaries on BI and wider supply…

World Bank warns against shift to protectionist policies and simplified supply chains to combat coronavirus

World Bank warns against shift to protectionist policies and simplified supply chains to combat coronavirus

World Bank warns against shift to protectionist policies and simplified supply chains to combat coronavirus

The World Bank has advised national governments not to react to the rise of coronavirus (Covid-19) and its devastating impact on the global economy too hastily by raising protectionist barriers and particularly by restricting the export of badly needed food and medical products. Now is the time for the nations of the world to pull together to combat the virus…

Covid-19 insurance claims uncertain as insurers turn to policy language and exclusions, warns Marsh

Covid-19 insurance claims uncertain as insurers turn to policy language and exclusions, warns Marsh

Covid-19 insurance claims uncertain as insurers turn to policy language and exclusions, warns Marsh

Insurers have learnt from previous virus outbreaks and in many cases policy language and exclusions could be used to deny cover for coronavirus (Covid-19), making insurance recoveries complex and uncertain, according to experts from various business lines on a Marsh webinar. Liability and business interruption losses from Covid-19 could potentially be covered by traditional property and casualty insurance coverages, such…

Parima urges risk managers to stress test insurance programmes for Covid-19 triggers

Parima urges risk managers to stress test insurance programmes for Covid-19 triggers

Parima urges risk managers to stress test insurance programmes for Covid-19 triggers

Risk managers should stress test their insurance programmes to see how coverage may be triggered for losses caused by coronavirus (Covid-19), according to Franck Baron, group deputy director, risk management and insurance at International SOS, and chairman of the Pan-Asia Risk & Insurance Management Association (Parima). Key lines that may be triggered by the impact of the virus include business…

Business urged not to take adversarial approach to supply chain Covid-19 problems

Business urged not to take adversarial approach to supply chain Covid-19 problems

Business urged not to take adversarial approach to supply chain Covid-19 problems

Aon’s Peter Kapler has urged the construction industry and wider business community not to take a short-sighted, adversarial approach to dealing with supply chain and contractual problems thrown up by Covid-19, which could lead to insolvencies and do no one any good. Mr Kapler, who is SVP national director in Aon’s Canadian construction services group, added that the outbreak will…

Top global brands accused of using forced labour in Chinese factories

Top global brands accused of using forced labour in Chinese factories

Top global brands accused of using forced labour in Chinese factories

Leading global brands such as Apple, BMW, Sony, Gap and Nike are unwittingly using forced labour that the Chinese government has transferred from internment camps into factories, according to the Australian Strategic Policy Institute (ASPI). The ASPI is a non-partisan defence and strategic policy thinktank founded by the Australian government and partly funded by the Australian Department of Defence. China…

Coronavirus set to ravage global supply chain according to Russell Group analysis

Coronavirus set to ravage global supply chain according to Russell Group analysis

Coronavirus set to ravage global supply chain according to Russell Group analysis

Ten Chinese companies, with combined revenues of almost $1.5trn, will be exposed to an estimated $122bn of connected loss exposures from the coronavirus, according to risk modelling firm Russell Group. The numbers provide further evidence of the potentially catastrophic impact the virus could have on the global economy, as both imports into China and exports out of the country are…