One in four businesses exceed US$1 million in losses, but almost half of survey respondents in Asia Pacific did not insure their losses.
Zurich Insurance has revealed the key Asia Pacific findings of the Business Continuity Institute (BCI) “Supply Chain Resilience Report 2016”. Despite six out of ten organisations experiencing at least one supply chain disruption during the past year, with one in four exceeding US$1 million in losses, the report found that almost half of survey respondents in Asia Pacific did not insure their losses.
Partnering with BCI for the eighth year, the annual report is regarded as one of the most authoritative benchmark reports in this business area. The key findings for Asia Pacific (APAC) this year are:
- IT/Telecom outages was named as the number one cause of supply chain disruption
- One in four organisations experienced cumulative losses of over US$1 million
- 46% of organisations do not insure their losses, meaning they bore the full brunt of the cost
- Only 30% of disruptions occur with an immediate supplier
- 48% responded that top management have made commitments to supply chain resilience
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