Manufacturing

United Financial Solutions insures manufacturers of all sizes and types. While each company has unique risks related to the types of products being made and/or the processes being used, there are a number of common issues faced by most. In addition to the core insurance and risk management services required for any business, manufacturers need to consider these special concerns:

 

Equipment Breakdown/Business Interruption
Do you have adequate coverage in the event you are unable to operate due to a fire, tornado or accidental breakdown of machinery? Will you have the cash necessary to cover continuing expenses—such as payroll, loan or lease payments, and other operational expenses—that will occur whether or not you have incoming receivables to cover them?

 

Transportation Exposures
Do you have adequate coverage for any damages or losses that may occur to your products during shipping, either by ground, rail, sea or air?

 

Credit Insurance
Would you be able to cover your losses if a major customer was unable to pay you due to bankruptcy or insolvency?

 

Product Recall
If a large quantity of your product was recalled, would you be able to cover the costs related to bringing the product back, communicating with and satisfying customers, handling any bad publicity, etc?

 

Pollution Liability
Do you use or transport any type of hazardous materials that could pose a pollution risk to your employees or property? Do you have the resources necessary to cover the cost of a cleanup on your site or elsewhere? Are you aware that you could be liable for the mishandling of pollutants, even if you’re hiring a professional service firm to manage disposal for you?

 

Foreign Exposures
Do you have sales people or other employees visiting foreign countries or working there? Do you have products, or components of products, being manufactured or sold overseas?

 

Patent Infringement
Would you have protection to cover the costs of legal defense if you were accused of copying all or part of someone else’s product?

 

Workers’ Compensation
Do you have all the programs in place that can help you lower the severity, frequency and overall cost of injury claims?

Every business is unique. We look forward to working with you to identify and manage the risks that can impact the future of your company.