There are lots of potential risks and disruptions that are challenging for supply chain organizations. The complex network of vendor, supplier, and customer relationships means that a disruption to one link in the supply chain can cause significant losses in many other parts of the chain. With increased demand for accurate and on-time delivery, higher costs, and increased globalization, the need for risk mitigation can help modern supply chains become more resilient to disruptions.
Supply chain insurance covers financial losses arising from potential operational risks of your supply chain. It protects the organization against disruptions and business interruption losses throughout the facilitation of the flow of products from production to sales.
Most commercial insurance policies are triggered by physical damage, such as a warehouse fire or cargo damage. With supply chain insurance, your supply chain stays protected in the event of delays, natural disasters, transportation failures, production disruptions, strikes, and other external events that create a loss for your business.