How chip shortages impact the manufacturing industry
It might not be until 2023 before the global microchip shortage is over.
As Australia emerges from lockdown, businesses are now facing the next hurdle.
As they adapt to the post-COVID landscape, some will be looking at how to adapt their business models to comply with new hygiene and social distancing requirements, while also saving on unnecessary costs.
However, now is not the time to cut back on insurance: with many businesses holding fewer cash reserves, insurance still provides important financial protection against unexpected setbacks, like fire, storms or theft.
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Photo by Andrea Donato on Unsplash
It might not be until 2023 before the global microchip shortage is over.
Economic uncertainty may have prompted you to reduce, change or cancel your business interruption insurance. That’s a natural reaction in these uncertain times. However, it's important to know how that could impact your business and possibly come back to bite you.
If some of the more popular buzzwords of the past two years were “flexible work” and “hybrid business”, 2022’s might be more along the lines of consistency and continuity.
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An insurance underwriter plays a key role in the insurance world, especially for businesses.