Mexico Bans Imports of Foreign Textiles: Does My Insurance Policy Cover That?
Diana Gliedman, Dennis Nolan, and Fiona Hogan examine the impact of Mexico’s recent presidential decree banning certain foreign textile imports through the IMMEX program and increasing tariffs on textile products. The ban has disrupted operations for textile companies and third-party logistics providers, leading to unexpected costs, rerouting challenges, and supply chain delays. The authors outline how businesses may find relief through insurance policies such as Supply Chain Insurance, Business Interruption, Contingent Business Interruption, and Marine Cargo/Stock Throughput Insurance. They emphasize the need for swift action to review coverage, notify insurers, and document losses to maximize potential claims.