F E ATU RE Damaged containers aboard the MSC Zo Photo issued by the Dutch Coastguard RISK AND REWARD Is your business ready for the unexpected? Are you prepared properly for eventualities that could derail your careful planning? If not, your organisation could be setting itself up for an extremely costly outcome. Phil Lattimore reports I PHIL LATTIMORE nternational moving and relocation is a multibilliondollar industry, conveying an enormous quantity of goods across all continents, in all conditions and using almost all transport modes. It employs a diverse supply chain, with many small- and mediumsized companies working alongside larger, multinational ones, in transportation networks spanning the globe. Consequently, international moving and relocation firmsnavigate a complex matrix of risk in their business every day packing, storing and transporting customers goods across borders and often working with partners across different jurisdictions. No matter whether the supply chain is robust and rigorously tested, things can go wrong and operators must be ready to mitigate the negative impact this mighthave on their business operations, as well as those of their clients. WW W. F I D I. O R G FF292 AugSep19 pp42-53 Insurance and Risk.indd 43 DAILY CHALLENGES Natural disasters may grab the headlines and create extreme challenges for businesses, and global relocation operators by their very nature can find themselves insituations requiring dynamic reassessments of risk, to ensure they are prepared for changing circumstances in their regular, day-to-day operations. This could range from managing supply-chain risk in an existing market toevaluating risk in new territories, assessing the impact of regulatory or legal requirements, or facing thechallenges posed by sanctions, industrial disputes ortransport disruption. Malcolm Pearson is Managing Director of Reason Global, a leading, UK-based specialist in insurance for the global moving, self-storage and relocation industries. Risk-management assessments of all processes within an international moving company are crucial 43 15/07/2019 15:41