The life sciences sector is heavily networked and more reliant on third parties than other industries.
Knowing where your materials are and how this affects your capability to manufacture is essential.
With disruption increasing, our webinar on 23 March 2022 looked at the rising frequency and severity of external threats to the life sciences supply chain, how the insurance market is responding, and what you can do to mitigate your risks.
It’s not uncommon for the simplest of drugs to have a complex supply chain, with 60-70 participants.
“The consequences of disruption can be severe, ultimately leading to delays in life-saving drugs reaching patients.”
Iris Chan | Head of Corporate Risk & Broking, Hong Kong & Macau
No two supply chains are the same. The consequences of disruption can be severe, ultimately leading to delays in life-saving drugs reaching patients.
Risks can occur throughout the chain – from the upstream supply of raw materials, through manufacturing and packaging to downstream distribution and wholesale.
In a recent 48-hour period, all these threats to the life sciences global network took place:
Disruptions like these are common.
Other destabilizing factors include natural disasters, the ongoing pandemic, cargo ships stuck in trade lanes, inflationary pressures, worker shortages, political unrest, cyber attacks, port shutdowns and materials shortages.
These are all examples of the unprecedented uncertainty and systemic risk faced by the life sciences industry
During this webinar, our experts covered:
In case you missed it, the webinar recording can be accessed below:
We have also put together a review document providing an overview of the key talking points and learnings from the webinar, which can be downloaded from the link below:
| Title | File Type | File Size |
|---|---|---|
| Building resilience into your life sciences supply chain | .5 MB |
Iris has over 20 years of construction related insurance industry experience and has held various senior positions with major insurance brokers, focused on construction projects in Hong Kong, Macau, China, Singapore, Malaysia, Vietnam, Indonesia and North Mariana Islands. Iris is always seeking innovative risk transfer solutions for infrastructure, superstructure, hospitality, power and petrochemical projects in the region. Her core expertise includes contentious claims handling, lender advisory, risk analysis, insurance broking, and managing self-retention insurance programs and captives. Iris specializes in driving new business, designing project-specific and annual renewable insurance programs for mega-sized infrastructure and building projects from the construction phase to interfacing with the operation phase.
