Due to recent events, companies may be experiencing supply chain disruptions without fully understanding the magnitude of losses associated with those disruptions. This is particularly problematic for companies experiencing a covid-related demand surge.
Contingent Business Interruption coverage may provide relief to those affected companies.
Below are notable supply chain disruption events:
1. Last month's Texas freeze continues to cause major petrochemical disruptions in plastics.
2. Earthquake and fire have have led to chip supply shortages for car makers.
3. The Suez Canal, considered the most important waterway for trade between East and West, is blocked by a large container ship.
4. Ports, for example in Los Angeles, have significant backlogs in part due to covid.
Please reach out to A&M if you need assistance with claims involving supply chain losses.
Supply chain woes mounted world-wide for makers of everything from cars and clothing to home siding and medical needle containers, as the extreme Texas weather and port backlogs compounded problems for manufacturers already beset by pandemic disruptions. The disruptions underscore how several forces are coming together to squeeze the world’s supply chains, from the pandemic-driven rise in consumer demand for tech goods to a backlog of imports at clogged California ports to U.S. factory outages caused by weather woes. They are creating cost increases and delays for numerous industries, company executives and analysts say, affecting profit margins and the prices that companies and consumers ultimately pay for many goods.
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