Reducing Overseas Operations
By Joe Anderson, CPCU, ARM AFSB, CBRA
Principal & Fractional Chief Risk Officer
Did you know 39% of companies plan to exit or reduce their overseas operations? Also, 62% listed supply chain disruption as a major risk going forward. (Stats found in The Hartford Risk Monitor Report 2025.)
This article, By Kevin Nolan, Head of Multinational at The Hartford, lists some very important questions, regarding reshoring risks, companies should ask:
1) What is the cost of reshoring and moving some of our operations back to our home country?
2) What is the impact of doing this to the resiliency of your supply chain?
3) What regulatory issues will you encounter when pulling assets and people out of foreign countries?
How we trade and bring products to market is being impacted by a number of forces domestically and abroad. We should look forward, as well as back, to see where the opportunities will be in the future.
Hiring risk management professionals in-house, staying abreast of regulatory changes, checking in with your insurance company and brokers regarding additional coverage or funding options, and testing your supply chain... are all important steps.
At Fortify Risk Management, LLC, we bring 30+ year risk management pros into your operation on a part-time or fractional basis. Our Chief Risk Officers have an average of 30+ years experience managing risk with companies such as Boise Cascade Company, Carnival Corporation, Sunkist Growers, Idaho Power, Fluor Corporation, etc. Our teams help bring expertise and context to these tough decisions.
We would love to partner with you to map out reshoring strategies or stress-test your supply chain for weaknesses and bottlenecks (or in other risk management areas, as well).
Source: https://www.thehartford.com/insights/home-workplace-safety/reshoring-and-risk