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Nearly Half of Americans Lack Confidence in U.S. Companies’ Ability To Recover from a Japan-Like Crisis

WARREN, NJ, May 17, 2011 – A survey on behalf of the Chubb Group of Insurance Companies found that nearly one-half (42%) of Americans are not confident that U.S. companies would be able to recover from a disaster similar to the recent Japanese catastrophe. Nearly 30% of the people surveyed believe their employers do not have a crisis contingency plan, and 10% don’t know if their employers have one.

“Employers have reason to be concerned if they don’t have a crisis contingency plan – or if they have one and their employees don’t know it,” said Barry Tarnef, assistant vice president and senior loss control specialist for Chubb. “Those plans should not only consider their own operations but also those of their suppliers, many of which are now overseas. Companies need to ask: How will the shutdown of even a single supplier disrupt our business both near and long-term?”

Chubb recommends that businesses assess their supply chains:

  • Where are your products manufactured and where are the parts sourced?
  • Do you have processes that can only be performed by a specific supplier in a single location?
  • Do you have a secondary supply source in another geographic location which could ramp up production if a facility is damaged?
  • Have you planned for more than a single event or a chain reaction of events?
  • Do you have enough inventory to assemble products until a supplier can resume operations?
  • Have you tested your plan to be back in business within a certain period of time?

Chubb’s survey of 1,000 Americans was conducted by Opinion Research Corporation, an independent public opinion and market research firm, in April 2011.

The member insurers of the Chubb Group of Insurance Companies form a multi-billion dollar organization providing property and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb's global network includes branches and affiliates throughout North America, Europe, Latin America, Asia and Australia.