Aspen Claims Service

Climate Change, Extreme Weather Boost Supply Chain Risks

 Thursday, June 14, 2018

 Business Insurance

Climate risks are directly connected to supply chain risks that should be identified and mitigated as extreme weather events continue to become more severe and intense and cause rising business interruption losses, experts say. “As warm water is the fuel for hurricane intensity, the potential is for the strongest events to become more frequent,” Mark Guishard, director of corporate and community relations for the Bermuda Institute of Ocean Sciences in St. George, Bermuda, said at the 2018 Bermuda Captive Conference in Southampton, Bermuda, on Wednesday. “As sea levels rise as well and coastal populations grow, so does the exposure of lives, livelihood and property to storm surge inundation impacts.”