Finsura Corporate has access to leading insurers locally and globally who can provide products suited to insuring your business from modern risks associated with the manufacturing and importation industries of Australia.
Contact us to discuss how we can assist insuring your company.
Ph: 02 8602 6222 or request a call back via the online form.
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All Manufacturers & Importers including:
Food Manufacturing Insurance
Wood Working Insurance
Joiners and Paper Mills Insurance
Toy Manufacturers Insurance
Plastic Manufacturers Insurance
Textile, Clothing and Footwear Importers and Manufacture Insurance
Printing, Publishing and Recorded Media Insurance
Petroleum, Coal and Chemical Products Insurance
Non-metal Mineral Products Insurance
Metal Products and Fabrication Insurance
Machinery and Equipment Manufacture & Import Insurance
Food Processing Insurance
Robotic Automation Devices Insurance
Safety Equipment Manufacturers, Importers and Exporters Insurance
Medical Equipment Manufacturers, Importers and Exporters Insurance
Electrical Importers and Manufacturers Insurance
Manufacturing risks are historically known to be exposed to a higher risk of fire and product liability claims. Areas we look at from a risk management perspective are the ways we can insure the assets in a national program that adequately insurers the risks but limits the overall limit any one loss to an area or region reducing overall spend.
When looking at a manufacturing risk we pay special attention to the fire safety procedures and waste management systems. Due to high fire loads traditional small events can turn in to major losses. On certain risks Finsura Corporate would engage an external loss surveyor to assist in producing a comprehensive report for you to review and indentify risks to your business.
Machinery breakdown for plant is a important cover in some factories depending on the values associated with some machines and the costs to bring parts from overseas or be custom rebuilt. Associated business interruption is often overlooked by inexperienced brokers as the failure of major piece of plant could cause long term delays in production.
Any one importing or manufacturing products in Australia has a significant risk to products liability claims of personal injury or property damage. When we evaluate your risk we are looking at the overall exposure. Factors include:
+ Frequency: Chance of an occurrence
+ Possible loss in the event of a claim
+ Spread: If a batch failed how many people could be affected.
A good example of Product risk is currently being seen in the electrical industry. A significant batch of wiring has been recalled due to a identified product issue. The client is exposed to losses high in frequency, high in possible loss should the wiring cause a fire that damages property or people and the spread is large as it has been installed in houses across Australia. The product recall costs are extreme. This type of risk exposure could happen to any business possibly not as extreme but to varying degree depending on your risk profile.
Risk management we would be providing advice around would include looking at batch identification, testing, Australian standards and crisis response and management.
With insurers predicting more volatile weather conditions over the next 10 years property is at a higher risk to weather related loss than ever. Good risk management is a combination of identification of risk and then creating a workable plan involving transfer of risk to insurers and mitigating risk via internal mechanisms. Insurers and brokers like ourselves play a major role in developing the right balance that suits your business objectives and processes without adding burden to your daily operations. We are experienced with your industries and know how to tailor a package to meet your needs.
Insurance Coverage Options
Industrial Special Risk Insurance incl cover for 100% EPS risks