The supply chain crisis that has caused cargo logjams at the world’s major ports is prompting cargo underwriters to recalculate their risk models, according to a leading insurer.
Isabelle Therrien, senior vice president at Falvey Cargo Underwriting, said the current supply chain crisis is prompting shippers to change their super-efficient “just in time” delivery system to a “just in case” approach, in which they keep more stock in reserve for longer.
