The Coronavirus Pandemic has taught us on the one hand how networked we are today and how quickly we slide into a crisis. On the other hand, companies would have to be in much greater pain if they really wanted to learn from it and prepare themselves appropriately for future events, says Benedikt Hintze, Head of Insurance & Senior Risk Management Officer at Georgsmarienhütte Holding GmbH, with whom Martin Schachtschneider, Head of Business Development BELFOR Germany, spoke about risk management during and after Coronavirus.

Preparation is everything: RED ALERT helps companies control risks and minimise operational downtime in the event of damage

Companies deal with “Black Swans” as part of their risk management. When properly in place, it allows them to react to unforeseeable events faster and more appropriately. But how is risk management currently applied in industrial medium-sized businesses in Germany? And what are the benefits for the companies? A current study provides answers.

Provided that external, unforeseeable circumstances not susceptible by supplier have an impact upon the proper fulfillment of a delivery commitment towards the customer, the question is typically arises who will be liable for any disturbances caused by this.