Manufacturing

Insurances To Consider

Material Damage Insurance to cover your building, machinery, stock, contents, money etc.

Business Interruption Insurance is designed to protect your business against a financial loss suffered as the result of a property claim. Unlike buildings insurance, which only covers physical damage, business interruption insurance exists to cover the income that your business would have received had the incident not happened. This insurance can often mean the difference between a business surviving or ceasing to trade in the event of a major fire, flood or similar incident.

Public Liability – Public Liability should be seen as essential if you have customers or members of the public visit your premises. A manufacturing environment can be extremely hazardous, especially if the visitor is not trained or has little knowledge or understanding of their surroundings.

Product Liability – Manufacturers are often held accountable by law should a product that you make injure a customer or damage their property. Product liability insurance will cover you for legal costs and compensation from any such claims.

Product Recall Insurance is designed to protect you in the event of you needing to recall a product due to a manufacturing error, a product safety issue or for a whole host of other reasons.

Employers’ Liability This a requirement by UK law if you have anyone under your employment whether full time or casual volunteers. This will provide cover for you should an employee have an accident in the workplace or suffer an illness as a direct result of working for you. Liability claims can be costly and time consuming and are always a threat within manufacturing.

Goods in Transit

A goods in transit insurance policy is designed to protect your materials, goods or cargo if they lost, stolen or damaged in transit,

Marine Cargo

This Insurance gives you full cover for your goods in the event of a loss, whether transported by road, sea, air or rail.

Stock Throughput Insurance could be relevant to you if you need cover for moveable goods include raw materials , semi-finished and finished goods. Your goods are covered whether in transit, or in storage at owned or third party premises. A stock throughput policy can offer a seamless coverage of goods and more control of inventory risks throughout the entire supply chain.

Directors & Officers Liability covers the cost of compensation claims against the Directors and Key Managers (officers) of the business for alleged wrongful acts.  One of the Key covers for manufacturing clients can be covering the cost of HSE Fees for Intervention.  If the Health & Safety Executive (HSE) visit your site to investigate an accident or in an unannounced inspection and discover a violation of health & safety regulations an HSE Fees for Intervention (FFI) will be charged. When the material breach has been resolved the HSE inspector will provide a written report detailing the law that has been broken, the reasons for their opinion and the notification of the fee.

Motor Fleet Insurance is designed for your business if you need to insure multiple vehicles and want to ensure that they are all covered under one motor policy. The advantage of a fleet is a common renewal date for all of the vehicles and the flexibility of any driver cover. Insurers will also look to give discounts for well managed fleets that show a good attitude to Driver training and Risk Management.

Machinery breakdown insurance provides a security cover to the machines used by your business factories and industries. This insurance covers accidental breakdown and physical damage to the machinery and the cost of repairs or replacement of the damaged machine parts

Engineering Inspection service is used to make sure that equipment such as, lifts, boilers, etc are safe to use and inspected to the minimum legal requirements.

Commercial Legal Expenses is designed to help you get legal advice as soon as possible, hopefully to avoid the issue becoming too serious. However, should a serious legal problem occur, it will provide cover for legal representation if the matter needs to go to court.

Commercial Crime Insurance is there to cover you in the event of Fraud. All organisations are vulnerable to Fraud regardless of size. Fraud can take many forms – including the theft of cash, stock and other assets; forgery, embezzlement and computer crime – and can continue for many years, often discovered purely by chance. The financial impact on a business can be devastating, but what is often overlooked is the resulting threat to your business processes, how it erodes the integrity of your employees and tarnishes your reputation.

To discuss any aspect of your insurance requirements with us, please contact us and one of our dedicated Account Executives will be in touch to assist you further.