supply chain News

Carpenter Forms Partnership with Symantec to Create Cyber Aggregation Model

Guy Carpenter & Co., the global risk and reinsurance specialist and wholly owned subsidiary of Marsh & McLennan Cos., has formed a strategic alliance with cyber security specialist Symantec Corp. to create a cyber aggregation model. Cyber attacks are estimated …

Death Toll Rises from Japanese Earthquakes; Supply Chain Disruptions Examined

The death toll from earthquakes that struck southern Japan rose to 42 and the economic impact began to reverberate Monday as companies surveyed damage and the potential effects on production from supply-chain disruptions. The quakes that struck the island of …

Sony’s Camera Chip Factory Halts Production After Japan Temblor; AIR Comments

The earthquake in southern Japan that killed nine people, damaged buildings and derailed a bullet train also halted production at a Sony Corp. camera-chip factory, a key part of the global smartphone supply chain. The plant in Kumamoto on the …

Negative Outlook for Energy Insurers May Force Sector Exit: Willis Towers Watson

Energy insurers continue to feel the pressure caused by over-supply of capital and falling demand from buyers, which may lead them to exit or scale back their participation in the energy sector, according to a report published by Willis Towers …

For 1st Time in Months Midwest Economic Forecast Figures Rise

January results from a survey of supply managers in nine states in the Midwest and Plains suggest some improvement in the regional economy, but the conditions apparently didn’t engender much optimism from those surveyed, according to a report released on …

UK Insurers to Stress Test Capital Reserves Against Synchronized Terrorist Attack

UK regulators have asked property and casualty insurers to stress test their capital reserves against catastrophes, including a synchronized terrorist attack in London, New York and one other major city. The Prudential Regulation Authority (PRA) published the exercises last week …

Takata Agrees to Recall 34 Million Cars for Air Bag Replacement

Japanese air bag manufacturer Takata Corp. is doubling a recall of potentially deadly air bags to nearly 34 million vehicles, making it the largest automotive recall in American history, U.S. safety regulators said on Tuesday. The recall involves passenger- and …

Minnesota Suppliers Hit by Target Canada Bankruptcy Filing

The end of Target’s Canadian operations is having a financial impact on businesses in Minnesota that supplied the retailer. Target’s Canadian division filed for bankruptcy protection last month and owes nearly $5 million to Minnesota suppliers and service providers, including …

Allianz Survey: Businesses Face New Challenges in Interconnected World

Business interruption (BI) and supply chain, natural catastrophes and fire/explosion are the major risks that occupy the attention of companies at the start of 2015, according to the fourth annual “Allianz Risk Barometer 2015.” The Risk Barometer details the top 10 global …

California Drought Bad Tidings for Rice Harvest

California’s deepening drought is shrinking its rice harvest, and that’s bad news for farmers, migratory birds and sushi lovers. The $5 billion industry exports rice to more than 100 countries and specializes in premium grains used in risotto, paella and …