Risk modeler AIR Worldwide says it has worked supply-chain-risk quantification into its set of Catastrophe Risk Engineering solutions.
“The catastrophe-risk-to-supply-chain networks came into focus following the volcanic eruption in Iceland in 2010. Just one year later, awareness of this risk was heightened further by the Tohoku earthquake and tsunami in Japan, as well as the major flooding in Thailand,” says Akshay Gupta, director ofAIR’s Catastrophe Risk Engineering (CRE) practice, in a statement. “While the catastrophe-risk-to-supply-chain network is quite complex, it can be effectively quantified. Once completed, the work involved to quantify this risk can also help expand risk assessment to other non-catastrophe perils.”