Turley Penn Captive Partners’ Post

“Large-scale supply chain disruptions and natural disasters in recent years have shined a light on the need for businesses to have proper insurance cover for their ability to generate revenue.” Today on the blog, Aruna Chandrapalan ACMA ACILA CFE and Gerald Cheang, CPA, ISCA FFP, MCIArb weigh in on considerations for businesses evaluating their business interruption (BI) cover. To learn more, visit https://bit.ly/4eSYpqA.

According to recent analysis from MarketScout, in 2023, the transportation industry was assessed as the sector with the largest rate increase at plus 7.26%, as the total rate increase across all industry groups hit 4.56% in the year.

US property market challenges drive interest in alternative risk solutions, like captives, as companies seek stable, long-term strategies amid fluctuating market conditions.

Geopolitical tensions and supply chain disruptions pose challenges for businesses and insurers, driving higher business interruption claims. Paul Burgess of Sompo International emphasizes the need for resilience and innovation in supply chain management and insurance. https://hubs.la/Q02mvWSh0 #SupplyChain #BusinessInterruption #InsuranceInnovators #Geopolitics

#Factoryandwarehouseinsurance policies protect facilities from financial losses due to thefts, fires, and other adverse events. The integration of advanced analytics empowers insurers to gain deeper insights, revolutionizing business models, and enabling precise premium pricing. Asia-Pacific leads in sector growth, driven by increased awareness of potential threats and expanding manufacturing and logistics sectors. #AMR #FactoryInsurance #WarehouseInsurance #RiskManagement #AdvancedAnalytics #AsiaPacificGrowth #BusinessProtection #InsuranceIndustry #AssetProtection #ManufacturingInsurance #LogisticsInsurance https://lnkd.in/dwPiHSEc

The global supply chain is complex and vulnerable to economic and geopolitical disruption. In this article, Edward Parker, Departmental Head of Special Risks at Tokio Marine Kiln, shares his thoughts on the difference between risk and uncertainty. Read the full article at https://lnkd.in/ev7wJ3DS  #supplychain #tradedisruption #insurance #riskmanagement #londonmarket

Tough economic times urge manufacturers to revise business models. Yet, change can invite new exposures. Having comprehensive insurance is crucial to avoid harm to your sales and reputation caused by supply chain vulnerabilities. Innovations, although pivotal, may expose your business to unexpected liabilities. Hence, extending coverage in alignment with new products or expanded client bases is prudent. Discover more insights on navigating business risks in the attached article. Adaptation in challenging economies is crucial, but so is ensuring robust insurance coverage. Reach out to Hugh Wood Canada Ltd for tailored risk mitigation strategies and insurance solutions. #hughwoodcanadaltd #insurance #riskmanagement #economicresilience #businessadaptation #supplychainrisks #comprehensivecoverage #liabilityprotection #contractverification #innovationrisks

Understanding how to manage coinsurance effectively is crucial for minimizing risk in your business. Stay informed about market fluctuations and ensure your insurance coverage matches your needs. Dive deeper into strategies here: https://okt.to/maMZzT

In case you missed it… 👇 Our latest opinion piece can help manage your ultimate competitive weapon: the supply chain! Capacity is the biggest problem facing the industry, but effective management isn’t just about the number of suppliers, it’s about getting the best out of them. By better understanding the data and factors that motivate supply chains, you can master the science of your supply chain to maximise positive outcomes – for you and your customers💡 Absorb the insights here: https://lnkd.in/e8fmFg-G #insurance #supplychain #property

Due to many current market factors, insurers are pushing through higher-than-normal premium increases and strict underwriting standards. Learn more about market hardening, how states like Wisconsin and Florida are affected and important points to review in your policy by reading our guest blog by Brandy Enger, Vizance: https://okt.to/E6KucA