supply chain risks News

Fidelis, Aon and Marsh Develop Marine Cargo Clause Aiming to Combat Modern Slavery

A group of brokers and insurers in the London market has come together to announce a new approach to keeping the products of modern slavery out of the export supply chain. Fidelis, Aon and Marsh have developed a clause which …

Germany’s Rhine River at Dangerously Low Levels, Which Could Disrupt Shipping

Germany’s Rhine River is entering dry summer months with water levels at their lowest in two decades, prompting fears of shipping disruption on Europe’s most important inland waterway. After spring showers failed to show in Germany, the official water level …

Risk Professionals Reassess Top Risks During Post-COVID Era

Reaching out to some of the same risk professionals that respond to the its “Global Risks Report” each year, the World Economic Forum announced the results of a special “COVID-19 Risk Perception Survey,” finding their concerns centered on economic risks …

UK Government Forms £10 Billion Reinsurance Backstop for Trade Credit Insurers

The UK government has created a £10 billion (US$12.5 billion) reinsurance scheme designed to help businesses during the COVID-19 pandemic by guaranteeing transactions insured by trade credit insurers. The Trade Credit Reinsurance scheme is designed to support UK business-to-business transactions …

Coronavirus Blocks Farm Laborers from Working in UK – in Possible Foretaste of Brexit

Britain’s fruit and vegetable farmers have long dreaded their country’s exit from the European Union, worrying that it would keep out the tens of thousands of Eastern European workers who come every year to pick produce. Now, the coronavirus pandemic …

Europe Faces Sweltering Summer with Below-Average Rainfall: Scientists

Europe is set for a sweltering and tinder dry summer this year, posing trouble for farmers, utilities and transportation on inland waterways. That’s the conclusion of scientists at the Copernicus Climate Change Service, who published the seasonal outlook this week. …

UK Government to Create Temporary Reinsurance Backstop for Trade Credit Insurance

The UK Treasury announced it is creating a government-backed temporary reinsurance scheme so businesses can continue to access trade credit insurance during the COVID-19 crisis. The scheme will be delivered through a reinsurance agreement with trade credit insurers currently operating …

German Economy Relies on Rhine River – But Levels Are Low Without April Rainfall

Germany’s spring showers haven’t materialized this year, and that’s drying out the country’s most important river, prompting concerns that key industrial goods might have trouble making it to their destination. Typically one of the wettest months, Europe’s biggest economy has …

UK Insurers in Talks with Government About Creating Trade Credit Backstop

British insurers are talking to the government about a backstop for trade credit insurance to support business supply chains hit by the coronavirus pandemic, an industry trade body said. States such as France, Germany and the Netherlands are giving guarantees …

Global Supply Chains Strained as Ship Crews Are Stuck in Lockdown

Port restrictions and canceled flights are straining the ability to replace seafarers on board ships, further weakening global supply chains already snarled by the coronavirus pandemic. Hubs like Singapore, Abu Dhabi and Shanghai have halted most crew transfers, while global …