Supply chain disruptions are expected to continue in 2023. Geopolitical conflicts, inflation, extreme weather events, and the recessionary environment are expected to impact access to goods, flow of goods to and from destinations, port holdups, container and freight availability, and price surges. Awareness and planning are keys to success in dealing with these supply chain challenges of 2023… (Learn more)
Supply Chain and the Construction Industry
The supply chain will continue to create challenges for the construction industry. Whether it is building new homes, renovating existing homes, or assisting families with homeowners claims, there are obstacles to overcome. To further complicate matters, the labor shortage in the construction industry is also continuing… (Learn more)
How Can Families Prepare for Supply Chain Disruptions?
Be proactive and consult with a risk manager. During that meeting, make sure to… (Learn more)
What Can Businesses Do to Minimize Supply Chain Disruption?
Business owners need to be aware of current trends and always look forward. Review your current supplier networks. Consider nearshoring (transferring operations to a nearby country), or friendshoring (relocating supply chains to countries where risk of disruption from political chaos is low)… (Learn more)
Cyber Scams and the Supply Chain
Another way to protect your business from supply chain disruption is to stay apprised of the latest cyber scams. The FBI reports an increase in “CEO scams,” where scammers target physical goods rather than wire transfers… (Learn more)
Insurance Coverage to Protect Against Losses
Supply chain disrupters reduce revenue, cut market share, threaten production and distribution, inflate costs and impact a company’s bottom line. Insurance policies may offset some loss. Consider contingent business interruption (CBI) insurance and supply chain insurance coverage. These policies are meant to reimburse your business for lost profits and related costs caused by supply chain disruptions… (Learn more)
About USI Insurance Services
From many great individuals USI has become one unique industry leader. USI began in 1994 with a single office of $6.5 million of revenue and 40 associates. Today, USI is approaching $2 billion in revenue with more than 9,000 associates in approximately 200 offices across the country.
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