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Description
Black and white illustrations - 2nd edition 2024 - English Business Interruption for an organization that has suffered a direct property loss, failure of the supply chain or any other adverse conditions is far from an emerging risk. It is, rather, a latent risk that emerges regularly in the wake of large-scale events that have world-wide ramifications; natural disasters, nuclear events or even pandemics. We find it hard to imagine a large-scale disaster and to even consider the possible long-term fallout. We tend towards short memories and, above all, staying well within our comfort zones, as illusory as they may be. Wisdom and common sense are thrown to the wind. We are, in fact, quite happy living on top of a ticking time bomb. This updated, and expanded second edition, was written shortly after the COVID-19 lockdown of 2020-21. This book seeks to provide a comprehensive understanding to the reader of the concept and philosophy of Business Interruption and define this and other related topics related to risk engineering and insurance solutions. Above all, this book underlines the need for (and advantages of) a proper and practical Risk Management Policy. Furthermore, the recent COVID-19 pandemic, realized some key risks to an organizations supply chain, something that the vast majority did not account for in their risk assessments. This book considers this recent occurrence and takes stock of the current global supply chain and how the risks involved have been managed. In addition, this edition offers more examples based on situational and empirical cases; what worked and what didn't.