Why Companies Are Considering Supply Chain Disruption Insurance
Summary
TLDR在这段视频中,讨论了近期一些重大事件如何使公司意识到需要减轻供应链中断的风险。Rick Bridges和Robin Anderson分别从保险和供应链管理的角度,分析了诸如船只事故、苏伊士运河堵塞、自然灾害以及COVID-19大流行等事件对供应链的影响。他们还探讨了现有的保险政策如何覆盖这些中断,以及公司如何通过风险管理来减轻潜在的损失。此外,还讨论了“不可抗力”条款在保险政策中的定义和覆盖范围,以及如何通过合同义务来最小化第三方风险的影响。最后,两位嘉宾都认为,随着极端天气事件和COVID-19大流行的增加,公司对业务中断保险的需求和意识正在上升。
Takeaways
- 🚢 近年来,由于船舶事故、苏伊士运河事件和自然灾害等重大事件,公司开始意识到需要减轻供应链中断的风险。
- 🌪️ 自然灾害如飓风、气旋和龙卷风等增加了对供应链的影响,促使公司考虑保险以应对这些风险。
- 😷 新冠疫情(COVID-19)导致政府关闭和劳动力流失,进一步凸显了供应链中断保险的必要性。
- 📜 保险公司提供的中断保险政策通常要求有物理损害或财产损失,以触发业务中断和供应链下游效应的覆盖。
- 🏛️ 许多法院认为COVID-19的存在不足以构成物理损害,因此不触发此类保险覆盖。
- 📦 大多数货物保险只覆盖货物的物理损失或损坏,对于纯粹由于延误造成的损失通常不提供覆盖。
- 🛒 供应链中断保险通常不包括特定事件,如集装箱船阻塞苏伊士运河,这类意外事件通常不在保险覆盖范围内。
- 📝 保险公司的“不可抗力条款”通常只覆盖自然灾害事件,而像劳动争议这类非物理损失或损害事件通常不被覆盖。
- 🔍 风险管理成为关键,公司通过加强与供应商和供应商的合同义务来减轻风险。
- 📈 随着COVID-19和极端天气事件的增加,公司对业务中断保险的意识增强,需求增加。
- 🛂 保险公司可能无法提供全面的解决方案,但对风险意识的提高有助于推动供应链的可见性和管理。
Q & A
为什么公司正在考虑供应链中断保险?
-公司正在考虑供应链中断保险是因为近年来发生了多起重大事件,如船舶事故、苏伊士运河阻塞、自然灾害以及COVID-19大流行等,这些都使得公司意识到需要减轻供应链中断的风险。
近年来有哪些重大事件使得公司意识到供应链中断的风险?
-重大事件包括高知名度的船舶事故、苏伊士运河阻塞、自然灾害如飓风、旋风和龙卷风,以及COVID-19大流行导致的政府关闭和劳动力损失。
Robin Anderson律师在保险和恢复实践中主要关注哪些方面?
-Robin Anderson律师主要关注保险和恢复实践中的法律问题,帮助客户理解现有保险政策以及可能购买的新保险产品,以应对供应链中断的风险。
Rick Bridges作为供应链和物流副总裁,他的主要职责是什么?
-Rick Bridges作为供应链和物流的副总裁,他的主要职责是帮助公司管理供应链风险,提供保险解决方案,并协助客户理解保险政策,以应对供应链中断等问题。
供应链中断保险通常覆盖哪些类型的事件?
-供应链中断保险通常覆盖那些导致物理损害的事件,如火灾、飓风、龙卷风等,这些事件可能会影响到上游供应商或下游客户。
COVID-19大流行对供应链中断保险需求有何影响?
-COVID-19大流行导致政府关闭和劳动力损失,使得许多保单持有人开始考虑现有保险是否能够应对大流行相关的供应链中断,或者他们可以购买哪些保险产品来应对这种情况。
为什么许多法院不认为COVID-19在设施中的存在构成物理损害?
-许多法院不认为COVID-19在设施中的存在构成物理损害,因为它们认为这更像是一种疾病的存在,而不是像火灾、飓风或龙卷风那样的物理损害事件。
供应链中断保险是否覆盖由于集装箱船阻塞苏伊士运河这类意外事件?
-大多数货物保险只覆盖货物的物理损失或损害,因此,如果船上有易腐货物,可能会有保险覆盖由于延误导致的损失,但对于纯粹的延误本身,通常没有保险覆盖。
保险公司如何定义'天灾'这一条款?
-保险公司在定义'天灾'时,通常会在保险条款中明确列出覆盖的特定事件,这些事件通常是不可预见且不可控制的自然事件,如地震、洪水等。
公司如何通过保险来减轻供应链风险?
-公司可以通过购买专门的保险产品来减轻供应链风险,这些产品可能涵盖更广泛的触发因素,同时,公司也可以通过加强与供应商和第三方的合同义务来减少潜在的损失。
当前公司对业务中断保险的需求有何变化?
-由于COVID-19和极端天气事件的增加,公司对业务中断保险的需求正在增加,他们正在寻求更广泛的潜在覆盖触发因素,并关注保险政策中的业务中断部分。
Outlines
🚢 供应链中断保险的重要性
本段讨论了公司考虑购买供应链中断保险的原因。Robin Anderson和Rick Bridges作为嘉宾,分别从保险和物流的角度分析了近年来导致公司意识到需要防范供应链风险的重大事件,如船只事故、苏伊士运河事件以及自然灾害。他们还讨论了COVID-19大流行对供应链的影响,以及政策持有者如何寻求保险来应对这些中断。
📜 保险政策的覆盖范围和挑战
这一段深入探讨了中断保险政策的工作原理,包括它们如何针对不同类型的中断提供保护。讨论了标准财产保险和附带的业务中断部分,以及这些政策通常要求有物理损害才能触发覆盖。还提到了COVID-19案件中法院如何处理业务中断保险的物理损害要求,以及特定事件(如堵塞苏伊士运河的货船)是否被一般供应链中断保险覆盖。
🌪️ 自然灾害条款和风险管理
本段讨论了所谓的'神的行为'条款在保险政策中的作用,以及如何定义和涵盖自然灾害。提到了政策条款中对覆盖触发因素的说明,以及非物理损失或损害事件(如劳资纠纷)通常不在第一方保险覆盖范围内。强调了风险管理的重要性,如通过强化供应商或供应商的合同义务来减轻风险。
📈 保险意识和需求的增长
最后一段探讨了公司对业务中断保险的需求,特别是COVID-19和极端天气事件后,政策持有者如何更加关注其保险覆盖的业务中断部分。讨论了保险行业是否能够提供全面的解决方案,以及如何通过技术提供商和运输委员会提供的风险缓解和供应链透明度来应对这一挑战。
Mindmap
Keywords
💡供应链中断保险
💡物理损害
💡COVID-19
💡苏伊士运河事件
💡自然灾害
💡政策持有人
💡风险管理
💡业务中断
💡保险条款
💡风险意识
Highlights
近年来,一些重大事件使公司意识到需要减轻供应链中断的风险。
高知名度的船舶事故,如火灾或恶劣天气事件,导致数千个集装箱丢失或起火。
苏伊士运河事件成为供应链中断的标志性事件。
自然灾害如飓风、气旋和龙卷风增加了对供应链的影响。
COVID-19大流行、政府关闭措施和劳动力流失对供应链产生连锁反应。
许多保险公司正在评估现有的保险产品是否能够应对大流行相关的供应链中断。
供应链中断保险通常要求物理事件,如对上游供应商或下游客户的财产造成物理损害。
许多法院认为COVID-19的存在不足以构成触发商业中断保险的物理损害。
大多数货物保险只覆盖货物的物理损失或损害。
苏伊士运河阻塞事件并非由一般供应链中断保险覆盖。
保险公司和再保险公司无法为所有延迟赔偿,否则可能会破产。
“天灾”条款通常涉及自然事件,但定义和覆盖范围因保险政策而异。
证明物理组成部分是许多索赔中的最大问题,尤其是那些与实际财产损害更间接相关的延误中断。
风险管理是关键,通过强化供应商或供应商的合同义务来减轻风险。
公司对业务中断保险的需求增加,特别是考虑到COVID-19和极端天气事件。
保险公司可能因风险增加而撤回某些保险产品或提高成本。
技术提供商和运输委员会提供供应链可见性变得更加重要。
托运人正在重新评估其供应链,从仅关注价格转向更全面的评估系统。
Transcripts
[Music]
why are companies considering supply
chain disruption insurance my guest
today are robin anderson an attorney in
the insurance and recovery practice of
lathrop gpm hi robin
hi there
and rick bridges vice president and
account executive for supply chain and
logistics with lockton companies hi rick
hi robert let me start with you rick i'm
just asking you to set the scene for me
if you will about like what are the big
events of the last several years that
have made companies aware
of the need to mitigate against the
supply against the risk of supply chain
disruption
so we've had a few things robert going
back a couple years we've had some very
high profile
vessel casualties
steamship lines that have had vessels
involved in either fires or heavy
weather incidents where um thousands of
containers have either gone overboard or
caught fire
and following those events uh the delay
uh of all of the unaffected containers
on board those vessels just stuck in a
port of refuge
we've obviously had the uh the suez
canal incident as a as a headline
incident
really putting supply chain disruption
on the map
uh no pun intended
and then you know i think we've been
fairly lucky here in the us but
increase in natural disasters whether
it's hurricanes cyclones um the
tornadoes that we've seen all of those
events trickle down to the supply chain
as well robin what have you seen in yuri
or what are your policyholders
experiencing now that's making them wake
up to the need for some aspect of
disruption insurance
i would reiterate all the things that
richard just mentioned but then also the
elephant in the rim covered 19 the
pandemic the government shutdowns the
loss of
labor force um
and all the ripple implications that
come with it have left many
policyholders wondering where can what
insurance do i already have that might
respond to this or what could i purchase
that would be
well suited for a pandemic related
supply chain disruption
um we still have half empty shelves you
know
repairs and um inventory that just are
not being handled as swiftly as they
could have been before the pandemic
robert let me ask you this just how
these uh disruption insurance policies
work do they protect just against
disruptions generally or do you have to
lay out every potential possible
disruption in order for it to be covered
by the policy
well um it starts by asking what is
what is the cause of the disruption and
then that will dictate which policy
you're going to be looking at a lot of
my policyholders that i work with
are using their standard issue property
policy with a contingent business
interruption component
and that generally is going to require a
physical
event a physical damage to property
either to an upstream supplier
or to a downstream customer
policy wording can vary but the trick
there is typically to have a physical
damage to property or physical loss of
property
um it's interesting going back to coven
19 so many courts have been called upon
to say
does the presence of cobit 19 at a
facility in the air is that sufficient
to constitute physical damage to trigger
this type of coverage for the business
interruption and downstream supply chain
effects that result
um many courts have said no we're not
going to buy that argument it's not
physical damage we're that's more along
the lines of the
fires the um hurricanes tornadoes those
types of events occurring
not coven 19 being present
um there are some courts that say well
we'll at least buy it and let it go to a
jury
um and so some of the litigation and
fallout from that continues but
typically many policyholders are sitting
on policies that do require some sort of
physical element to the claim
and then
others may have specialized products
that respond
to other triggers but by and large the
policy holders i see and work with are
dealing with that physical component
rick from a supply chain perspective i
suspect that nobody had a policy a
couple of years ago that protected
specifically against a container ship
blocking the suez canal that's exactly
the kind of example of some something
that comes out of nowhere would that be
covered by a general supply chain
disruption insurance policy or would you
just throw up your hands and say sorry
you didn't mention that in the policy so
you're not protected yeah good question
and as robin alluded to
most cargo policies are going to cover
physical loss or damage to the cargo
only so obviously if you had perishables
on board that vessel
there would likely be coverage covering
the loss
caused by the delay in that case
through ripening or spoilage something
to that effect but the pure delay
component really um in its largest
extent would not be covered there would
certainly be some ancillary coverages
that might respond expediting costs and
things like that but as a whole
unfortunately there really is no
coverage for that type of event indeed
everybody's delayed now not just because
container ships are blocking canals but
because just everything so congested
if you were to pay off on all those
things i think you guys would go broke
pretty quickly as insurance and
reinsurance people
um
okay so
robin tell me a little bit about the
so-called acts of god provision that is
in so many of these insurance policies
how does one go about defining that and
what does that cover
just in general
um
you're talking about your um
natural events well that's what i'm
asking you is that would it have to be
like a natural event i mean there's two
ways to go about it i mean a lot of
policy some policies will ensure all
perils unless they're specifically
excluded
and then some will only cover and are
triggered by covered perils that go back
to your original question of yeah you've
got to foresee what it's going to be and
specifically identify it by name
um
but but in my and from my view the
biggest
picture the biggest problem is the fit
is proving
a physical component and so many of
these claims
are
delay disruptions that are
um consequential
and more remote from the actual
physical um
damage to property
i see i see
well
okay maybe rick you could address as
well because the whole idea of an event
that is beyond the control of the
insurer
and therefore they're claiming in their
policy for compensation take for example
they might claim that a labor dispute
that shut down a factory in asia was
beyond their control the insurance
company might say it was very much
within the control of the factory
whether or not there was going to be a
labor dispute so what about that kind of
thing does that happen in other big
disputes over things like that when a
so-called acts of god or whatever you
want to call it
so events like that um again i think
really
um it's in the the policy terms and
conditions um where the
uh the coverage triggers are spilled out
spelled out and um
those type of events unfortunately are
not going to be covered in large part
so the non-physical loss or damage
events to cargo
more the contractual issues
in large part
not covered
on a first party insurance basis but
um you know one of the things that we're
doing more is it's really talking about
the risk management component how do you
deflect that away from the uh the party
that's reliant on that third party so is
it through the contractual obligations
of the supplier
or any of the vendors
in which perhaps you can minimize the
exposure
you know certainly it's not going to
make it go away but it can certainly
lessen the blow to a little smaller
degree if you can strengthen those
contractual obligations
so robin what is the awareness among
companies today of the need for any kind
of business
disruption insurance the kind that your
policyholders hold is it becoming more
popular are they coming to you for more
protection
yes i think not only with covid but also
with
an increase in extreme weather events um
policies are policyholders are paying
attention more to the business
interruption component of their coverage
and asking for
you know um
underwriting and uh
and risk assessment that would cover
a broader and more novel spectrum of
potential coverage triggers and at the
same time i think there's probably a
sense or a fear that insurers are going
to respond to all this by saying by by
retreating and saying we don't want to
write that risk or it's going to be cost
prohibitive to do it
um so
i think it's an interesting time and
that we need to have about a year or so
to see the fallout and and what comes of
it um kovid19 has brought
policymaker um attention to whether
there are these gaps that um that need
to be filled in the insurance industry
as a whole
rick what do you think in terms of your
policyholders in the world in which you
you work uh is there more of a demand
for these products and do you find
yourself with your with your clients
much more aware of the need for risk
mitigation through insurance yes i mean
a good question i mean it's definitely
much more demand whether we can provide
a solution or not right now
um
unfortunately i think in in large part
we we cannot provide a wholesale
solution but um the awareness has
certainly helped and i think it's given
um
whether it's transportation council
or technology providers that are
providing visibility into uh supply
chain
and transit
times things like that
all of that has become much more
important and i think it's a bit of a
reset
for shippers those that are dependent on
their supply chains to take stock in
that
and move away from kind of a price only
metric uh to
the system
in trying to deliver their goods
well certainly no surprise that
companies are
paying much more attention these days to
the need to mitigate risk through the
use of disruption insurance and
specifically supply chain disruption
insurance i want to thank both of you
for joining me today rick bridges of
lockedon companies robin anderson of
lathrop gpm thanks very much for being
with me
thank you for having me
you
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