Tianjin Port Explosion - Recommendations for Business Recovery and Resilience

Two massive explosions in the port of Tianjin, northern China, on 12 August 2015 have claimed over 100 lives, left hundreds injured, and devastated large areas of the city.

The explosions caused widespread destruction of the port area and extensive damage to buildings, infrastructure, the port facility, and stored goods including shipping containers and vehicles. A logistics park containing several thousand cars was incinerated by the fire. The blasts rippled out from the port into nearby residential areas. There are also concerns over chemical contamination.

Tianjin is a significant industrial port near Beijing, and serves as a gateway for goods going in and out of the capital as well as the industrial north of the country. Marsh expects that this incident will represent significant exposure in the areas of Marine Cargo and Marine insurance, and result in supply chain disruptions and business continuity implications for major clients doing international business.

With a catastrophe response team on the ground in Tianjin, Marsh has been monitoring this situation closely and working closely with our clients as events and developments unfold in real time.

Using our local and global resources, we can help manage your insurance claims and coordinate with your insurance broker’s advocacy team, and review your business continuity and resilience programs to protect them in the future, so you can focus on running your business and assisting your people.

Marsh’s local and global insurance, property risk, forensic accounting, business resilience, crisis management, and claims experts can help companies address their concerns. For more information, please contact your Marsh representative.