supply chain News

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 …

Michigan-Based Kellogg to Suppliers: Disclose Carbon Emissions

Kellogg said it will step up efforts to reduce planet-warming emissions in its supply chain as part of a broader initiative designed to be more environmentally friendly. Under the plan, the Battle Creek, Mich.-based food products manufacturer will require key …

Rebounding Economy Spurs Growth in Cargo, Supply Chain Risks

A slow trend toward economic recovery in the U.S. may mean good news/bad news for insurance agents and brokers who handle commercial accounts with cargo and supply chain vulnerabilities. The good news is growth in sales and manufacturing will generate …

Aon Report Finds Loss of Company Reputation Linked to Crisis Events

According to the Aon-sponsored Reputation Review 2012, a report recently issued by Oxford Metrica, an independent analytics and advisory firm, 7 out of 10 companies “measured in the report that were impacted by disasters in 2011.”  They lost “more than …

Lloyd’s Analyzes Repercussions of Thai Flood Losses a Year Later

Lloyd’s has published an analysis of the floods that hit Thailand in October 2011, which notes that “after weeks of slowly spreading their way through many of Thailand’s provinces, flood waters eventually reached the capital city, Bangkok. There they remained …

Insurer Must Pay Missouri Firm $11M in Supply Chain Interruption Case

A federal jury ordered an insurance company to pay $11 million to a Joplin, Mo., company for damages caused by an oil pipeline leak. A federal jury in St. Louis returned the verdict. TAMKO Building Products Inc. said in a …

Re/insurers Increasingly Less Relevant to Global Economy: XL CEO McGavick

XL’s CEO Mike McGavick doesn’t mince words when it comes to looking at the big, and not very pretty, picture of the state of the re/insurance industry. Address emerging risks, innovate, create new products and provide potential insurance buyers with …