Manufacturing Insurance
Don’t you want to partner with insurance professionals who know that it takes more than just high-quality manufacturing insurance protection to make sure your operations run safely and efficiently every day?
From the initial planning and product development stages to commercial production, inspection, shipment and delivery, nearly every process you undertake in your manufacturing operation carries with it a variety of inherent risks.
However, whether you are producing precision machined products or electronics, manufacturing plastics, or creating 3D printed objects, many of today’s manufacturing risks are not so different from those that manufacturing companies like yours faced decades ago:
- A critical piece of equipment or machinery can break down
- An employee can have an accident and injure themselves on the job
- A natural disaster, such as a flood, tornado, or severe storm, can destroy your facility
- A customer can sue you for an injury that your product caused
- A fire, theft, or other common peril can cause property and equipment damage
- A supplier can have an issue that leaves you without critical products or raw materials for your customers
- A power or water service outage can halt operations, causing a back-up of orders, and, if you produce perishable goods, resulting in a huge loss from spoilage
While that’s already an extensive list of risks and challenges for a manufacturer of any size to manage, you also have to cope with the extraordinary new threats of the 21st century, particularly those posed by rapid advances in technology. As a result, some of the additional strategic risks and concerns for your manufacturing company may be:
- The rapid pace of innovation, which could make existing products, manufacturing practices, or even an entire business model obsolete
- Computer network failures and problems arising from the use of outdated equipment
- Data security breaches, that could result in the loss of intellectual property or private information
- Mobile device use and cloud computing, that often leave companies in the dark about where their data is, who is able to access it and how it is being protected
- Inflammatory social media posts, by a customer or employee, which can now reach a tremendously broad audience
- The expanding, and increasingly complex, global supply chain, in which there are many more parties involved and much less information available at any point in the production process
- Regulatory or government policy changes, such as carbon emission restrictions or strong cyber security directives, that could put a strain on productivity and revenues
- A severe talent shortage, that could affect the ability to fulfill customer demand
It is clear that the risks that manufacturers must confront today are not only far more complicated than ever before, but they are also evolving at a pace that can be challenging for companies of all sizes to keep up with. In order to stay on top of – and protect your company from – today’s potential risks and those that could emerge in the future, you may want to draw on the expertise of local risk management professionals, like the team at HUB International.
Manufacturers get the knowledgeable risk management support they need from HUB International
At HUB International, we have partnered with hundreds of mid-sized manufacturers, throughout North Central and Western Massachusetts and into Northern Connecticut and Rhode Island, to help them identify both their company’s and their industry’s unique risks. We work together with these businesses to assess how well these risks are currently being addressed and managed by their organization as well as to calculate how the risk landscape might change and impact their operation in the long-term. Finally, we can help with compliance issues, and offer advice on any related state and federal laws, for everything from data privacy, use and security regulations to applicable OSHA standards.
Our team of insurance, benefits, claims and risk management professionals recognizes that, in order to successfully protect your manufacturing business from all current and potential threats, we must go well beyond just finding you the right insurance solutions. That’s why we offer manufacturers many added-value support services to assist you in addressing the current and future challenges, including:
- Risk Management & Loss Control Services
- Claims Management
- Product Safety Consultations
- Machine Safeguarding Strategies
- OSHA Requirements Training, including the Log of Work-Related Injuries/Illnesses, Safety Data Sheets and Lockout/Tagout Practices and Procedures
- Fleet Safety Approaches
- Safety Committee Implementation Planning
- Return-to-Work Program Design
- Workers’ Comp Mod Rating Monitoring
- And more…
When you partner with HUB International for all of your manufacturing insurance needs, you will receive much more than access to a wide variety of high-quality insurance protection options. We will also offer you a superior level of focus, dedication and personal attention to helping you navigate – and often alleviate – some of the most stressful situations and common risk scenarios that arise when you run a manufacturing business.
HUB designs comprehensive insurance and risk management solutions for manufacturers
In addition to providing you a with a team of strategic business specialists who will help you identify, understand, evaluate, and control your risk and losses, HUB International delivers a wide variety of manufacturers insurance options through our partnerships with top-quality insurance carriers from around the country.
From your facility and equipment, to your inventory and raw materials, to your employees and commercial vehicles, to your electronic data and computer networks, our team of insurance specialists and risk management experts can design a comprehensive plan that protects all of these business assets with options that include:
- Business Income with Extra Expense
- Crime Protection
- Commercial Auto
- Commercial Property
- Commercial Umbrella
- Cyber Liability
- Equipment/Mechanical Breakdown
- General Liability Insurance
- Inland Marine
- Pollution
- Product Recall
- Employment Practices Liability
- Employee Benefits, like health, dental, vision and life
- Manufacturers Errors & Omissions
- Workers’ Compensation
As one of the area’s largest, privately-owned, and independent insurance agencies, HUB International finds you the best manufacturing insurance coverages, as well as any supplementary endorsements that are required, that will meet your specific needs at highly competitive rates.
Contact us anytime with your manufacturing insurance questions, for a complimentary review of your current policies, or for help making the critical risk management decisions that can keep your company preforming like a well-oiled machine today, tomorrow, and well into the future.
If you are ready for a more personal relationship with a trusted insurance agent who is always looking out for you and your manufacturing business, then please call us at 833-GoCallHUB.
