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Foreword
Welcome to StrategicRISK The Journal

The second edition of StrategicRISK’s Journal, published in association with Swiss Re Corporate Solutions, explores the challenges of managing a business interruption and the steps risk and insurance managers can take to help their business through a major event.

Chapter one: Business interruption risk
Sean Mooney, executive editor, StrategicRISK
Properly structured BI coverage can provide the critical working capital needed for a business to survive a major disruption. It can be the difference between a business being able to rebuild and recover and maintain relationships with its suppliers and customers, or being severely impacted and maybe even shutting down completely

Chapter two: Cause and connectivity
Sean Mooney, executive editor, StrategicRISK
Neil Allen, partner, Risk IQ
Gareth Byatt, principal consultant, Risk Insight Consulting
Both the severity and frequency of BI claims are increasing, primarily due to growing inter-dependencies between companies, the increasing complexity of supply chains, and the drive for ever-leaner production processes.

Chapter three: Case studies
Carla Liedtke, director, Control Risks
Scott Reichelt, director – Global Technical Services Asia and Crawford Forensic Accounting Services Asia, Crawford & Company
What lessons can risk managers learn from two high profile business interruption events; the NotPetya cyber attack and Tianjin port explosion in China? 

Chapter four: Survey – risk managers’ top concerns 
Lauren Gow, editor, Asia-Pacific, StrategicRISK
StrategicRISK polls the views of more than one hundred senior risk professionals across Asia-Pacific to find out the key concern the industry has in managing a business interruption.

Chapter five: Managing a business interruption event
Glenn Eaglestone, Leader, Marsh’s Forensic Accounting and Claims Services Practice, Asia
Recent natural catastrophe events have highlighted the importance of businesses making sure that they are prepared for the worst. Such events can be absolutely devastating for a company, and while it is not possible to avoid or control such events, an organisation’s actions both pre- and post-loss can determine whether it will survive.

Chapter six: Understanding business interruption insurance
Eamonn Cunninghamformer chief risk officer, Scentre Group
Business interruption insurance was previously seen an adjunct, often an afterthought (if thought about at all), to a main property damage policy. However, in today’s interconnected marketplace, BI’s implicit value has been absolutely recognised.
Chapter seven: Non-physical damage business interruption
Peter Newall, senior claims manager, Swiss Re Corporate Solutions
Traditional Business Interruption cover is triggered by property damage however we’ve seen an increase in cases where businesses are disrupted even though there was no physical damage at their premises.
Chapter eight: Managing a business interruption claim
Peter Newall, senior claims manager, Swiss Re Corporate Solutions
Eammon Cunningham, former chief risk officer, Scentre Group
When it comes to making a claims, pitfalls often arise causing further stress at an already stressful time. Avoiding common claims pitfalls begins with understanding what you are buying.

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