Supply Chain

You've probably heard the terms business interruption (BI), contingent business interruption (CBI), and Product Value at Risk (PVaR) thrown around in the context of supply chain disruptions. What exactly do these terms mean and how can each of them be quantified?

As "big data" quickly becomes the new standard for "all data" in technology-driven enterprises, advanced data analytics has become the key to competitive advantage in a number of fields, including supply chain risk modeling and mitigation.

Aaron Michel, senior engineer at AIR Worldwide, sat down with Claims Journal to discuss risks expected to affect supply chains in 2017, and how both corporations and insurance companies are approaching these risks.