June 3, 2021
As part of our ongoing media partnership with Business Insider, an article recently published about how the COVID-19 pandemic brought to light the volatility of the global supply chain. “This past year has shown how volatile our supply chain can be and that it may not be as resilient as we once thought,” says Lori Goltermann, CEO of U.S. Commercial Risk and Health Solutions at Aon.
The article also highlights how companies are not prepared for "grey swan" events, risks that are unlikely to occur but can wreak havoc when they do. According to Aon's COVID-19 Risk Management & Insurance Survey, 82 percent of companies failed to identify a global health crisis as a principal risk to their business, while the general risk readiness of major corporations was at its lowest level in 12 years. In addition, 48 percent said COVID-19 impacted their business in some way, with 17 percent still unsure how the pandemic will impact their operations long term.
Read the full article in Business Insider.