Supply Chain Risks: Responding to the Wake-Up Call

Last year served as a wake-up call for manufacturers on the fragility of their supply chains. Catastrophes in 2011—including massive floods in Thailand that disrupted electronic- and auto-parts manufacturers—caused record totals of $105 billion of insured losses and $380 billion of total economic damages worldwide, according to Munich Reinsurance America.

Jim Rubel, a New York-based executive vice president for Lockton Inc., characterized supply-chain management as a major priority for manufacturers since the 2011 earthquake and tsunami in Japan.

Policy Fine Points of Supply-Chain Coverage

Experts note that supply-chain coverage has some limitations that policyholders often do not consider.

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