A few days ago CNBC wrote about a new initiative at the White House: “The White House is studying whether supply chains should undergo “stress tests” of hypothetical scenarios and whether to suggest stockpiling certain critical items, sources say. The administration is conducting a broader review into critical supply chains amid a global semiconductor shortage that has impacted the auto industry.”
How does buying insurance for supply chain risk factor into your risk mitigation approaches? Requiring a certain level of insurance might motivate firm's to choose to mitigate their biggest supply chain risks to reduce their insurance premiums. This can also be true for cybersecurity insurance and collaboration between the insured and insurer.