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Industrial & Manufacturing Insurance Policies

All businesses face risks, whether classified as strategic, operational, financial or otherwise.

Although there are many aspects to risk, one form of cover that deserves closer attention than it is usually afforded, is Business Interruption insurance. As a valued risk adviser to our clients, we are keen to carefully review the significant benefits provided by a Business Interruption insurance that reflects a specific client’s needs. Vital to this review is a better understanding of a number of key factors, some of which are:

  • Provision for cover at own premises
  • Cover for insured damage occurring at the premises of suppliers and customers (or property in transit)
  • Setting a suitable sum insured (the standard definition of Gross Profit will not necessarily give the required protection)
  • Setting a maximum indemnity period
  • Gross Profit or Gross Revenue basis of cover
  • Increased Cost of Working and Additional Increased Cost of Working
  • Flexible Limit of Loss cover

Emerging risks, like Cyber and Environmental Liability, should be carefully considered, as well as the more familiar, though nevertheless often misunderstood covers like Public/Products and Employers’ Liability. Whilst the latter is a statutory requirement in the UK, Public/Products Liability insurance should be carefully considered and it is vital to ensure:

  • Policies have suitable business descriptions and include historical products, where applicable
  • The Limit of Liability is reviewed periodically, due to changes in the business, increasing damages awards or contractual implications. (Excess Layer insurance may be needed)
  • Where there is input into product design, the relevance and scope of Professional Indemnity insurance should be considered (and may even be a required under contractual agreement)

What does your business need to protect?

  • Loss of earnings
  • Increased costs of maintaining sales or productivity
  • Market position
  • Capability to recover and retain customers and suppliers relationships
  • Retention of skilled and valued staff
  • Liability for injury or disease sustained by employees, the definition of which could be wider than first thought
  • Injury to third parties or damage to third party property arising out of your business activities
  • The cost to business in the event that insufficient cover is arranged
  • The implications of warranties on a Public/Products Liability policy ie work away, work at height/depth or involving heat or offshore activity
  • The continuity of the business itself!

Talk to us today for independent advice and recommendations relevant to your requirements by either completing our enquiry form or alternatively email us and a member of our team will respond directly.

Contact us

Get in touch with us to discuss your needs with one of our specialist brokers.

01228 406 290

Why choose H&H?

Independent Business Insurance reviews from FeeFo

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