Zurich has introduced a “first of its kind” supply chain risk solution to Hong Kong and Singapore.

The service, which includes risk assessment and insurance, has been offered in Europe and North America for the past six years.

Zurich says it is the first insurer to bring such a product to the Asia-Pacific region.

Technical Underwriting Manager Asia-Pacific Hassan Karim says many organisations are unaware who their key suppliers are, especially in lower levels of the supply chain.

“Half of supply chain disruptions occur beyond the preliminary supplier of goods, therefore making it extremely difficult to establish where an organisation lies within its suppliers’ priorities,” he said.

“Taking a holistic approach and identifying critical supplies is essential when working with customers to manage their exposures.”