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Member, Beacon International Group, Ltd.
Swiss Re Ltd. has examined in a recent report the fragility of the world’s food supply chain and the need to better manage risks in the food industry worldwide, The Financial reports.
"A simple mistake can cost a food manufacturer millions in losses and even more in terms of reputation," an author of the report said, adding that "insurance and sound risk management are essential for keeping affected businesses afloat." Risk management tools to ensure safe food production must be applied and adapted to complex global markets and supply chains, the report said.