Supply Chain Insurance Procurement Intelligence Report, 2023 - 2030 |

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The supply chain insurance category is anticipated to grow at a CAGR of 4.5% from 2023 to 2030. There are several possible risks and interruptions for supply chain enterprises. Due to the intricate web of interactions between vendors, suppliers, and customers, a break in one link in the supply chain can result in bigger losses in several other links. For companies whose activities are directly dependent on a major supplier's manufacturing capacity, supply chain insurance coverage is crucial.

In 2021, according to Morningstar, the COVID-19 pandemic exposed the limitations of business interruption insurance. As a result of this, there has been an increased demand for supply chain insurance significantly. Insurance companies have expanded their offerings and coverage beyond their regular Business Interruption (BI) and Contingent Business Interruption (CBI) policies.

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