With more than 80% of international trade carried by sea, ports and terminals play a critical role in global supply chains. But a wide variety of risks — ranging from natural catastrophes, operational challenges, cyberattacks and outages, and workforce issues — can contribute to disruptions that may have a ripple effect throughout the global economy.
Considering the potential widespread impacts, it is important for port and terminal operators to understand the potential challenges and identify vulnerabilities in their operations. This will allow them to build a comprehensive risk management and insurance strategy to improve resilience.
In this episode of Risk in Context, Randal Waters, senior vice president within Marsh Advisory’s Emerging Risks Group, speaks with Janelle Griffith, who leads Marsh’s North American Logistics Practice, and Randall Hollomon, Head of the Ports and Terminals Industry Practice Group. They discuss the multiple risks that ports and terminals tend to face and how these could impact already vulnerable supply chains. They also share actions that organizations should consider as they seek to build more resilient port operations.
Senior Vice President, Emerging Risks Group, Marsh Advisory, North America
United States
Randal Waters is a senior vice president within the Emerging Risks Group, part of Marsh’s Advisory practice. 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.
Leader, North American Logistics Practice
United States
Janelle Griffith serves as the North American Logistics leader and is also a member of the global Marine, Cargo, & Logistics Practice. Based in New York, she primarily focuses on the logistics and cargo segments, serving as a resource in multiple areas, including insurance program design, strategic marketing and implementation, contractual risk transfer, and delivering innovative insurance solutions for Marsh clients.
Head, Ports and Terminals Industry Practice Group
United States
Randall Hollomon is a placement specialist within Marsh Specialty’s Marine Practice and heads the Ports and Terminals Industry Practice Group. He is responsible for program design and placement for all lines within the marine market, coordinating claims for the policy he places, and communicating placement activities to his clients.
