supply chains News

Derailment of BHP Iron Ore Train Exposes Australia’s Reliance on Private Railways

A network of private railroads more than three times the length of the New York subway system is the key lifeline for Australia’s A$61.3 billion ($44.5 billion) iron ore export industry. So when there’s a derailment in the biggest shipper …

BHP Expects Interruption to Australia Iron Ore Exports After Train Derailment

Mining giant BHP Billiton expects some interruption to its Australian iron ore exports after a nearly 3-km-long train loaded with the commodity was forcibly derailed this week after running away en route to a key shipping hub. BHP said in …

BHP’s Western Australia Iron Ore Train Derailment Will Take Week to Recover

BHP Billiton Ltd. expects to take about a week to recover from the derailment of one of its iron ore trains that’s halted its rail operations in Western Australia, potentially bolstering prices of the steelmaking raw material. The company was …

Cyber Risk Ranks as Most Feared BI Trigger for Global Firms: Allianz

Business interruption (BI) and cyber incidents interlink as the major threat facing companies, according to a report published by Allianz Global Corporate & Specialty (AGCS). Allianz revealed that BI — including supply chain disruption — ranks as the most important …

Global Protectionism Risks Economic Growth: Zurich, Atlantic Council

A rise in global protectionism stemming from a backlash against free trade and globalization could have significant impact on economic growth, poverty levels and the potential for military conflict, according to a new report from the Atlantic Council and Zurich …

Supply Chain Risks Underinsured in APAC: Zurich Insurance/BCI Survey

Six out of 10 organizations in Asia Pacific experienced at least one supply chain disruption in the past year, with one in four incidents costing more than US$1 million, according to a survey conducted by the Business Continuity Institute (BCI) …

London Imports Climate-Related Risks Through Insurers, Supply Chains

London is importing climate-related risks through investments, insurers and supply chains, according to a new report that details dangers posed to the UK capital by global warming beyond the physical effects. More than half of FTSE 100 companies and 60 …

XL Catlin Launches 24/7 Product Recall Crisis Network in Asia

XL Catlin announced that its product recall insurance team in Asia has launched “Response XL Catlin,” a tailored network of expert crisis consultants, which will be supported in the region by global communications company Bell Pottinger. With established networks in …

Insurers Respond to Risk Managers at FERMA Forum – Part 2

After the risk managers expressed their views on how re/insurance carriers were handling such matters as innovation, new policies and claims handling at the Federation of European Risk Management Associations’ (FERMA) bi-annual forum, the carriers got a chance to respond. …

Demand Surge Not An Issue For Sandy; Property Losses Near $19B

Although demand surge was an issue for the property/casualty industry following a trio of hurricanes in 2005, for Superstorm Sandy the demand-surge impact is minimal so far, an expert said recently. There has only been a price impact of 2 …