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Manufacturing is a high-risk, high-investment sector. From complex machinery and valuable stock to large workforces and strict supply contracts, even a minor incident can lead to serious financial disruption.
If you run a manufacturing business, having the right insurance in place isn’t just a safety net, but is a critical part of protecting operations, reputation and long-term growth.
Below are some of the key insurances that manufacturing firms should investigate:
1. Employers’ Liability Insurance
A legal requirement for businesses that have staff, this covers claims from employees who suffer injury or illness as a result of their work.
2. Public Liability Insurance
Protects a company if a third party is injured or their property is damaged as a result of business activities.
3. Product Liability Insurance
Essential for manufacturers, this insurance covers any claims arising from products that cause injury or damage.
4. Buildings and Contents Insurance
Covers business premises, machinery, equipment, stock and all other assets against risks such as fire, flood, theft and storm damage.
5. Business Interruption Insurance
Provides financial protection if operations are disrupted following an insured event, to help cover lost income and ongoing expenses.
6. Engineering Insurance
Designed for machinery-heavy environments, Engineering Insurance can cover breakdown, inspection requirements and sudden mechanical failure.
7. Cyber Insurance
In today’s digital world, cyber insurance helps protect against data breaches, ransomware and operational downtime.
8. Directors’ and Officers’ (D&O) Insurance
Protects senior management against personal liability arising from management decisions, regulatory investigations or shareholder claims.
9. Environmental Liability Insurance
Covers the costs associated with pollution incidents, contamination and environmental damage, including clean-up and legal expenses.
10. Professional Indemnity Insurance
Important if you offer design or advice as PII can help protect a company against claims of errors or negligence.
Depending on your operations, additional cover may also be appropriate. This can include Goods In Transit Insurance to protect raw materials and finished products whilst being transported including imports/exports, Commercial Legal Expenses Insurance for contract and employment disputes, Trade Credit Insurance to protect against customer non-payment, Fidelity Insurance to cover employee dishonesty, or Motor Fleet Insurance for company-owned vehicles.
Every manufacturing business faces its own unique risks. Working with an experienced insurance broker, like Prizm Solutions ensures your insurance cover tailored to your strategy, processes, contracts and growth plans.
