The United Auto Workers strike in 38 locations in 20 states
means automotive manufacturers could face yet another supply chain
disruption for electronics supplies as the labor dispute continues
(UAW Strike Will Cost Billions Across the Supply
Chain, EPS News, Sept. 25, 2023).
Any potential disruption in the supply chain for electronics in
the automotive industry, just as any other supply chain disruption,
can reduce revenue, cut market share, threaten production and
distribution, and inflate costs. The results of a supply chain
disruption can have a ripple effect lasting years.
Because typical insurance products, like business owners'
property or general liability insurance, do not respond to supply
chain risks, any business that relies on a downturn in supply, a
delay or failure in the delivery of raw materials, parts, or
finished products, may want to consider purchasing specialty
insurance coverages and policies, such as contingent business
interruption (CBI)
