Zurich unveils “all-risk” supply
chain insurance
The U.S. arm of Swiss insurance and financial giant Zurich
Financial Services Group has introduced what it calls a new
type of supply chain risk insurance product: one that covers all occurrences that could disrupt a manufacturer’s or
retailer’s supply chain but that extends coverage only to
those suppliers considered most critical to the company’s
operations.
short takes
Ceva Logistics has launched an expedited surface freight
service between the Gulf Coast and Alberta, Canada, for its
energy customers. The new service will be known as the
Alberta Express. ... Associated Material Handling Industries
Inc., based in the Chicago area, is rebranding itself as
Associated Integrated Supply Chain Solutions. The new
name reflects the company’s full range of capabilities,
which include engineering and fleet management services
and solutions. ... Hytrol has released a new brochure featuring its E- 24 conveyor line, which consists of 24-volt systems. An electronic version and video can be viewed by
clicking the Innovations tab at www.hytrol.com. ... Crown
Equipment Corp. says it now has 20 electric forklift models that can be powered by fuel cells. They include counterbalanced trucks, stock pickers, and reach, tow, and pallet trucks. ... Norfolk Southern has officially opened its new
Heartland Corridor, which will allow double-stack container trains to move between the Port of Virginia and the
Midwest. ... Savi Technology has relocated its corporate
go figure …
51. 2
The performance of the national transportation system
in 2008 as measured by a formula devised by the U.S.
Chamber of Commerce. The number has been steadily
declining since 2003, a sign the nation’s transport network is not keeping up with the demands placed on it.
SOURCE: U.S. CHAMBER OF COMMERCE
addition, large companies that would be candidates for the
product have hundreds, if not thousands, of suppliers, and
it would be unrealistic and even unnecessary to extend coverage to all of them, she said.
The Zurich executive said the risk assessment involves
quantifying the value of a particular supplier to a manufacturer’s or retailer’s operations, and then determining what
it would cost the policyholder to be made “whole” in the
event of a supply chain disruption.
As with other insurance products, the Zurich offering
doesn’t prevent a scenario from arising or the disruptions
that may result. However, Conrad asserts that it will provide
the policyholder with a financial cushion that in some
cases, may be an operating lifeline while it seeks out alternate sources of supply. ;
—M.S.
headquarters from California to Alexandria, Va., to be closer to its expanding base of public-sector and commercial
customers. ... DHL has launched a Lighting Retrofit Program
as its Global Forwarding unit in North America. The program’s goal is to reduce the company’s carbon output by 5
percent by the end of the year. The program will begin in
the United States and then expand to Mexico and Canada.
... Arthur “Mac” Barrett Jr. has died at the age of 89.
Barrett is credited with inventing the world’s first automatic guided vehicle in 1954. His company, Barrett
Electronics, developed Guide-O-Matic Driverless Vehicles,
which tracked a signal from a wire mounted in the ceiling
of a warehouse or factory. ... Next View Software has
announced that it now offers support for the Apple iPad for
its labor management, workforce productivity, and warehouse management software solutions. ... Specialized
Transportation, a company that provides transportation
services for specialized and high-value products, has purchased 112 new trailers for its operations.
