Background: A mid-size technology parts manufacturer with global sales over $20,000,000 was planning to sell…
A large component manufacturer, primarily serving defense contractors, came to N.P. James Insurance to help understand their exposures for travel, shipping, and global liability for internationally exported products.
Background: A long-time software developer client with worldwide revenues over $50,000,000 let us know that…
Today’s businesses have opportunities to broaden their reach and efficiencies with e-commerce, multi-emedia advertising, and cloud computing. These innovations also pose challenges with new legislation tightening privacy and data security obligations. As privacy and data security risks continue to grow, they burden American businesses in addition to the normal risks associated with products and services. Businesses must continuously assess the increasingly complex risks assumed with internet opportunities.
Privacy legislation, data security, e-commerce, multimedia advertising, cloud computing – these terms engender both opportunity and challenge to commerce. Legislation, case law, privacy and data security obligations continue to grow and burden American businesses along with the normal risks associated with products and services. There are increasingly complex risks assumed in
internet opportunities and obligations.
Embargoes, prohibitions of outsourcing (especially when involving communications infrastructure), confiscation or freezing of foreign assets and/or currency, and contract repudiation can likely ensue during panic mode. These are commonly described as Trade Disruption issues. Damage includes closures of ports, airports, power grids, and rail yards as a result of tsunamis, earthquakes, pirates in Somalia, terrorism, revolutions, civil unrest, embargoes, and wars.
A technology parts manufacturer with growing revenues expected to exceed $100 million, told us that they were planning to open an office in the Netherlands. As it would be their first overseas office, they needed advice and help in determining risk, exposure, and the best insurance solutions.