While the peak of COVID-19 panic purchasing has died down, these stockpiling behaviours inevitably have created supply chain issues for numerous industries, including life sciences. As we make our way through uncharted territory, the global pandemic has highlighted weaknesses in our medical supply chain that poses a danger to public health.
As the coronavirus (COVID-19) outbreak evolves, businesses face growing uncertainty as to how this pandemic will affect their operations long term. This is especially true when you consider that many organizations—including bars, restaurants, entertainment venues, retailers and manufacturers—have had to close their doors or cease operations as a result of COVID-19. Not only has this severely impacted their ability to serve their customers, but, for some, it has also led to indefinite disruptions—disruptions that could impact their bottom line.
In response to the COVID-19 pandemic, many employers across Canada have had to either temporarily close their business doors or transition to a telecommuting program, leaving their commercial property unoccupied. However, unoccupied properties are more susceptible to vandalism, theft, undetected structural failures and property damage.
An economic downturn can be a turbulent time for businesses in every sector worldwide. Sinking revenues and economic uncertainty can exacerbate our already litigious society, and even companies that successfully weather economic downturns relatively unscathed can still face long-term uninsured risks.
Got questions about how the current COVID-19 pandemic relates to your commercial insurance? Thanks to the Insurance Bureau of Canada, we’ve got some of the answers to the most pressing questions Canadian business owners are facing.
Mass media coverage of product recalls brings to light important reminders for risk managers. Producers and manufacturers of all industries need to keep in mind the potential impact of a product recall event. Each reminder should serve as a lesson in what needs to be done to prepare for potential exposures. Faulty products cause thousands of deaths each year, as well as countless illnesses and injuries and numerous lawsuits.
Data processing operations perform many accounting and record keeping functions for other firms. The customer firms will provide the paperwork from their operation and the data processing firms will enter the data for the customer and provide the agreed-upon reports and reconciliations.
Every business has unique risks that can seriously harm an organization’s operations if it is not properly protected. As a business using technology to produce and deliver products and/or services, it’s important to recognize and take precautions against risks that your Commercial General Liability coverage doesn’t include.
There are several different types of laboratories, and each has its own unique set of exposures. This classification includes non-medical testing laboratories and research and development laboratories. Laboratories are used to test the performance of products, compare product characteristics, and for quality control.
As expertly written by Nikita Alexandrov, Chief Technology Officer at Thinkmyco, the 2020 Psychedelics Industry Insights Report is an insightful and informative overview of the rapid pace of change taking place in the Psychedelics industry.