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How Shipping Companies Are Responding to Supply Chain Challenges

Port staff work at the edge of a dock.

Marsh’s Risk in Context podcast series helps listeners better understand key risks, build more effective insurance programs, and think creatively about risk and resilience.

The COVID-19 pandemic and geopolitical risks have impacted already fragile supply chains. Organizations are taking steps to restructure their supply chains, while at the same time addressing environmental, social, and governance (ESG) concerns.

In this episode of Risk in Context, John Frazee, Marsh’s Marine and Logistics growth leader for the U.S., Randal Waters, senior vice president within Marsh Advisory’s Emerging Risks Group, Matthew Yeshin, managing director within Marsh Canada’s Marine Logistics and Transportation Practice, and Richard Geiger, leader for North America’s Marine Industry Practice discuss persisting supply chain challenges, disruptions in the shipping environment and how shipping companies can improve their ESG posture.

On organizations’ efforts to become more resilient:

The shift we’ve seen, and continue to see, over the last couple years, I think, has been this move towards resilience as the watchword. – Randal Waters

On the fragile state of supply chains:

We knew we had a fragile supply chain, but it’s really been highlighted significantly over the past couple years just how fragile it is. – Matthew Yeshin

On the need to care for marine employees:

Taking care of your employees will lead to a more physically and mentally fit employee, more productive and safe employee, which will keep the boxes moving, keep the ships moving, and keep those terminals efficient. – Richard Geiger

John Frazee

Marine/Logistics Growth Leader at Marsh

John Frazee is Marsh’s US Marine/Logistics Growth Leader. He also serves as Marsh’s US Marine Auto and Manufacturing Industry Leader. John has more than 30 years of insurance industry experience; he began his career at Marsh in 1990.

Randal Waters

Senior Vice President for Marsh Advisory’s Emerging Risks Group

Randal Waters is a senior vice president within Marsh Advisory’s Emerging Risks Group. He joined Marsh in 2021 and helps clients understand their strategic risks, with a focus on climate, cyber, and supply chain risk quantification. He also helps with the development of roadmaps to build resilience.

Matthew Yeshin

Managing Director, Marine Logistics and Transportation Practice at Marsh

Matthew Yeshin is Marsh Canada’s National Practice Leader for Marine, Logistics, and Transportation and North American resource for cargo liability and shippers’ interest solutions. He leads teams that build both traditional and digital insurance solutions that will integrate with current and emerging supply chain technology, and improve upon the delivery and execution of traditional insurance models. 

Richard Geiger

Leader, North America’s Marine Industry Practice at Marsh

Rick Geiger is a senior vice president and the North American Marine Industry Leader, within Marsh’s Global Marine Practice. He has been in the marine insurance business for 25 years, 19 of which with Marsh.  

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