Manufacturing

Overview

We offer policies designed to protect your businesses from financial losses arising from machinery breakdowns, product recalls, product liability claims, and the deterioration of stock. By safeguarding your assets and mitigating potential losses, these policies can help ensure business continuity and stability.

1. Machinery breakdown

Machinery is covered under the conditions as described:

  • Accidental damage – loss or damage caused by accidental or malicious external causes including damage caused by operator error during normal operation of the insured machinery.
  • Breakdown – sudden and unforeseen breaking, distortion, overheating or electrical burnout of any part resulting in its immediate stoppage of function before normal working can be resumed

2. Product recall

This policy covers the cost of getting a defective product back under the control of the manufacturer or merchandiser that would be responsible for possible bodily injury (BI) or property damage (PD) from its continued use or existence.

Recall policies are for clients ranging from SMEs through to large corporates at any stage of the supply chain. We support clients across a vast range of industries including:

  • Food and beverage
  • Automotive and component parts
  • Consumer goods
  • Pharmaceutical
  • Restaurant

3. Product liability

The policy covers the cost of compensating any person who is injured by a faulty product that a business designs, manufactures or supplies.

4. Deterioration of stock

This policy covers damage to goods stored in specific cold storage spaces, which occurs because of a change in temperature caused by breakdown of the refrigeration unit due to accidental damage to it.