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Cargo ship, truck, airplane and other images related to logistics. Insureds dealing with complex supply chains may want their coverage to include unnamed suppliers or customers. While insurers may hesitate to offer such expansive coverage, the parties could leverage a tiered system where unnamed third parties have lower recovery limits. (Credit: Shutterstock.com)

Costly supply chain disruptions have hounded businesses worldwide since the pandemic began, and continue to do so today. Companies with complex global supply chains have encountered further disruptions in the wake of other recent catastrophes, including Russia’s invasion of Ukraine, which threatens critical supplies of products throughout the world.

Businesses have historically protected themselves from supply chain disruptions through contingent business interruption (CBI) insurance, which covers their losses due to physical damage to the property of a supplier or customer.

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