global insurance

  A disruption in the delivery of the goods and services your company relies on can be devastating to business. To help keep operations running smoothly, be sure to address supply chain and inventory control strategies and backup plans for your company before there is an issue. Here are some things to consider: Secondary Suppliers Know where to go next if components, parts, goods or services from your most critical suppliers are unavailable. Special Delivery Make sure your suppliers can make special arrangements to fill and deliver orders for key dates, or find ones who can. Notify Key Customers You rely on your suppliers; your customers rely on you. If critical orders are delayed, be sure to notify affected customers. Build a Supply Chain Management Plan Address supply chain management in your strategic and business continuity plans. Develop and document strategies to help protect against interruptions in delivery of your most important inventory and services. ...

  Dealing with overseas suppliers can take even the most experienced managers out of their comfort zone. When foreign parts, products and services are used, considerations like cultural and legal differences, time and distance constraints and operational variations are serious business. Once your supply chain moves offshore, risk and liabilities can be amplified. And while it can be daunting, there are ways to manage outsourcing and mitigate risk. Adopt Industry-Approved Standards Know the standards and regulations that apply to importing and outsourcing products and services, as well as any related legal obligations, for your industry. Be sure that every operator in your supply chain understands and adheres to these regulations. Know Your Suppliers... and their suppliers, and for the most important items, know the entire supply chain. The more you know about each player in the chain, the better you can control and manage imported goods and services. Understand the track recor...

  In a globalized economy, high-tech manufacturers based in the United States increasingly have suppliers, manufacturing plants and customers located throughout the world, which creates new and unseen risks to manage. The wrong type of event can imperil a company's financial health, and even its long-term viability. Luckily, high-tech manufacturers can mitigate their exposure from international operations through careful study and planning. High-tech manufacturing is a crucial component of the U.S. economy. From the smartphones in our hands to sophisticated medical equipment that saves lives, technology has advanced dramatically over the past decade. To operate internationally, these manufacturers of high-tech components should understand and prepare for five key classes of global risk. 1. Global Product Liability High-tech manufacturers with overseas operations must constantly watch for defective or  counterfeit components . Because of the complexity of international supply c...

  International expansion can be a viable and rewarding way for companies to grow their customer and supplier bases. From a global insurance perspective, one of the most challenging aspects of doing business in different countries is the need to comply with each country’s varying insurance laws and regulations. Even though contracts, currencies and goods travel across borders, insurance coverage may not. Businesses that combine   global insurance  with financial interest insurance can address this challenge and may benefit from more robust protection of their foreign business interests. Global Insurance and Local Regulation An often overlooked component of obtaining  global insurance  is the need for multinational companies to protect subsidiaries, joint ventures and the parent company’s other business interests in foreign jurisdictions. Virtually every country has steep fines and penalties if the parent company tries to insure those foreign interests through a ...