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Manufacturing Insurance
Manufacturers are as varied as the products they supply…
As such the requirement to employ a competent broker to identify specific risk factors particular to different industries is imperative. Our staff have both insurance underwriting and commercial surveying experience as well as many years placing insurance cover for a variety of trades and industries.
From paper cases for chocolate and confectionary to heavy engineering, each business needs to be dealt with on an individual basis.
Our mandate in addition to dealing with the common risks associated with all manufacturers is to identify specific risk factors which influence the Insurer's view of the risk.
The importance of this could mean the difference between a multi-million pound claim being honoured or otherwise, see why us section.
In addition to consideration of individual risk factors and comprehensive cover for established manufacturing risks we also discuss and provide cover for emerging risks such as environmental covers and data security.
As part of our offering and where relevant we will also propose tools to help control business risks. With specific Insurance carriers we are able to provide direct money saving opportunities and indirect financial savings by implementation of such risk management measures through reduced insurance costs.
Manufacturing Insurance Case Studies
Plastics Group Midland and South, Turnover £33m
We were asked to report on this client’s group insurance with three other national Brokers including their existing agent. The client is involved in the plastics industry.
At the time of us reporting turnover was approximately £33m and the client had sustained a fire in the previous year costing their Insurer in excess of £1m. The client was spending approximately £240k.
After presenting to the group’s board the client instructed us as their broker which in addition to improvements in coverage provided the group with a saving of £105k.
The client has had a further fire of £1.2m but with the assistance of additional resources pre-nominated by Delta, our own in house claims team and a lot of hard work by the client they were back to limited trading within 48 hours and the claim was settled to their satisfaction.
Specialist Manufacturing Midlands, Turnover £19m
Our client specialises in manufacture of products to the civil engineering industry. They operate and export on a worldwide basis and have several UK locations.
After considering the client's existing arrangements we highlighted missing areas of cover involving their Chinese supply chain as well as additional cover such as intellectual property rights and patent coverage. We were appointed over the client's national broker on the basis of improvements to cover including extensions in China and a price reduction on their previous years spend.
Technology Manufacturing Staffordshire, Turnover £9m
We were invited to quote on an established technology based company operating from purpose built premises in Staffordshire with covers held with one of the largest brokers in the UK. We arranged a pre-cover survey and were appointed by the client mid-term.
As part of our renewal review we switched Insurers on most of the policies to improve on cover and recommended consideration of a specialist products policy.
Our renewal savings with enhanced covers included amounted to 16% of the client's annual premium spend.
