Home / Knowledge / News / Textiles / Zurich offers supply chain insurance in Asia Pacific
Zurich offers supply chain insurance in Asia Pacific
19
Oct '16
Zurich Insurance has launched Zurich Supply Chain insurance, a first-of-its-kind solution in the Asia Pacific region, to provide risk assessment services and protect businesses against the risks associated with supply chain management disruptions, delays or failures. The service is now available for eligible customers based in Hong Kong and Singapore.

Supply Chain insurance is designed to help reduce the number of supply chain failures and provide cover in the event of an incident whereby supplies are not delivered or are otherwise delayed resulting in a financial impact on a company's operations. It is an all risks cover, focusing on incidents outside of the insured's control, including disruptions related to both physical and non-physical damage, through to the lower tiers of the supply chain.

“Many organisations are not aware who their key suppliers are, especially in the lower levels of the supply chain, and very few have visibility over their entire supply chain. Half of supply chain disruptions occur beyond the preliminary supplier of goods, therefore making it extremely difficult to establish where an organisation lies within its suppliers' priorities,” said Hassan Karim, technical underwriting manager, Zurich Asia Pacific.

“Effective supply chain risk management can present significant benefits to businesses and is becoming an increasingly important driver of their profits. Every customer's supply chain is different so we work with them to shape the appropriate solution and offer an individually tailored policy to meet their specific needs,” he added.

There are two components to the proposition - risk assessment and insurance. In the first phase, Zurich risk engineers conduct a comprehensive supply chain risk assessment in order to identify and evaluate customers' exposure to critical risks throughout their supply chain and prioritised mitigation actions are recommended.

The results of this risk assessment together with other sources of data are then used to underwrite and price the risk in the second phase. Claims are managed by the Zurich claims team and supported by specialist third parties where necessary.

Zurich Supply Chain insurance was launched in Europe and North America over six years ago. (KD)

Fibre2Fashion News Desk – India


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Urmil Arya

Sushila International, a well established textile organisation established ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search