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Manufacturing Insurance

Manufacturing Insurance

Rowlands & Hames caters for all forms of insurance required by manufacturers in most sectors.

An insurance programme may range from a simple start-up small ‘combined’ package which caters for the minimum key coverage required for a small business to ensure it’s compliant with law and hold the minimum liability cover a customer would expect, to much wider programmes involving perhaps 20 or more different forms of coverage.

Manufacturing insurance can be in-house, at various locations, and/or involve various other parties and suppliers within the UK and abroad.

Coverage starts with your liability exposures, moves on to cover for buildings, contents, stock, we consider business interruption aspects and reliance on other parties with most firms deciding to protect themselves from various other exposures.

A typical comprehensive insurance programme would involve:

  • Employers’ and Employers’ Liability
  • Products Liability
  • Buildings (or Tenants Improvements where leased occupation)
  • Contents (Stock, Machinery, Fixtures & Fittings etc)
  • Computers (static and portable)
  • Business Interruption – including reliance on customers/suppliers production facilities
  • Money
  • Personal Accident
  • Business Travel
  • Management Liability (Directors’ & Officers, Corporate Liability)
  • Employment Practice Liability
  • Crime Insurance (with or without cyber-crime/social engineering)
  • Cyber Liability (with or without cyber-crime/social engineering)
  • Fleet – company vehicles (cars, vans, HGVs) and Directors’ personally owned vehicles
  • Marine (Goods in Transit, UK/international, including ‘stock throughput’ coverage)
  • Environmental Impairment Liability
  • Credit Insurance
  • Product Recall (defective product or contaminated products)
  • Legal Expenses
  • Performance Bonds

Each manufacturing business differs in complexity, no two firms (even in the same sector) are the same and each client is carefully examined in order that our marketing reports to insurers are bespoke to each client.

Key to obtaining favourable terms includes evidence of extensive/ongoing risk management, pro-active health & safety management, information relating to the construction of buildings, training records, good overall management systems and record keeping, and use of specialist external consultants.

Protects against allegations of negligence following the provision of advice, design, certification and other professional services including medical malpractice – generally defence costs and compensation.

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Defence costs against allegations of wrongdoing against individual directors’ & officers’ (and other senior staff) known as ‘D&O’, against the legal entity itself known as Corporate Liability; and defence costs and compensation payments in relation to employment disputes known as Employment Practices Liability.

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Protection against losses following cyber-attacks (ransomware, hacking attacks, reinstatement of systems and data), defence costs & fines (in some circumstances) in relation to GDPR & Privacy issues; loss of gross profit, PR costs and the like.

 

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Contact the Team

Mike Watkinson Dip CII | Account Manager
Mike Watkinson Dip CII
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