Along with death and taxes, companies can count on the risk of business interruption to their operations at some time.
The supply chain may be affected by a major snowstorm anywhere in the United States or a typhoon in Indonesia. A cyber attack on a third-party vendor can take down a company’s website or result in a hack. One outgrowth of managing these risks has been the expansion of Business Interruption insurance that covers many business income losses.
Another solution that companies can use to manage risk is trade credit insurance, a Business Insurance product that protects a seller against losses from nonpayment of a commercial trade debt, which is especially valuable to the energy industry, says Jay Rose, managing director of Euler Hermes Energy.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
