Commercial lines carriers focused on risk mitigation tied to business continuity have reason for additional concern. According to a newly published survey, 85 percent of companies reported at least one supply chain disruption over the last 12 months, with 40 percent of analyzed disruption originating below the immediate supplier. The survey, sponsored by Zurich Financial Services Group (Zurich) and conducted by the Business Continuity Institute (BCI) Caversham, United Kingdom, queried companies from across 62 countries.
Now in its third year, the survey emphasizes the need for a higher priority to be assigned to developing resilient supply chains in the face of systemic vulnerabilities and unpredictable disruptive events, notes BCI.
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