As supply chains stretch out longer and longer, they seem to besnapping more often. And while companies generally insure againstsuch risks, the standard insurance product, contingent businessinterruption coverage, has some shortcomings.
A survey of more than 550 companies worldwide found 85% hadexperienced at least one supply chain interruption in the lastyear, up from 72% in 2010 and 74% in 2009. The survey, which wasconducted by the Business Continuity Institute and sponsored byZurich and DHL, also showed that 29% of the companies reported morethan one supply chain disruption, up from 20% in 2010.
“That shows it's really a systemic problem,” says Linda Conrad,director of strategic business risk at Zurich.
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Susan Kelly
Susan Kelly is a business journalist who has written for Treasury & Risk, FierceCFO, Global Finance, Financial Week, Bridge News and The Bond Buyer.
