There is a significant amount of insight in this article, but one point that really resonates with me is the role the insurance industry plays in post-shock recovery following a disruption to global food supply.
I have often commented on the importance of insurance to society, and increasingly find myself drawn to those firms that seek to offer innovative solutions to support the most challenged in the world.
There are many challenges that the insurance industry must conquer if it is to stay relevant in an increasingly digital and interconnected world. However, it is as important that it continues to play the important role of getting people back on their feet after catastrophic events.
The ability of insurers to pay claims quickly would be an important factor in post-shock recovery. More broadly, the insurance industry would also be affected by impacts on investment income and the global regulatory and business environment. The insurance industry is in a position to make an important contribution to improving the resilience and sustainability of the global food system, by encouraging businesses to think about their exposure to risks throughout the food supply chain, and by providing innovative risk transfer products to enhance global resilience to systemic food system shocks.