The aim of this guide is to provide a toolkit to assist directors in understanding and keeping pace with this fast-changing and increasingly complex landscape of supply chain challenges. It takes the form of 12 questions designed to break the diverse set of issues down into a manageable series of topics. The list is not exhaustive and the answers to each question will vary tremendously depending on the size, maturity and nature of the organisation’s operations. Nevertheless, in response to each question, we identify a range of issues which are likely to be relevant.
We also consider how well the insurance industry is responding to the supply chain challenges faced by organisations in providing relevant and meaningful solutions. There are signs that with appropriate expert input and advice, insurers are willing to take a more holistic and bespoke cross-class approach (encompassing property and business interruption, liability, marine cargo and cyber risk) to the challenges faced by large organisations. Greater data sets and more sophisticated techniques, including parametric solutions, are beginning to offer solutions to respond to rapidly changing needs.