How the use of insurance might assist bernard in recovering

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Reference no: EM133310780

Case: Bernard sells high-quality sunflower oil to up-scale restaurants and groceries throughout North America. Ukraine is the largest exporter of sunflower oil in the world. Bernard purchases almost all of its sunflower oil from producers in Ukraine. As a result of the continuing war in Ukraine, supplies of sunflower oil from Ukraine have almost disappeared and Bernard has been unable to obtainhis needed supplies of sunflower oil from other suppliers. Bernard has been unable to import high-quality sun flower oil since February 2022. As a result of the disruption in the supply of sunflower oil, Bernard's business suffered substantial financial losses.

Question1. Describe how the use of insurance might assist Bernard in recovering these losses.

Reference no: EM133310780

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