Recent manufacturer lawsuits in the news
- Defective cars and car parts that cause crashes, injury or death
- Children product recalls
- Pharmaceutical manufacturers side effects
- Patent-infringement lawsuits
- Frivolous lawsuits against pencil manufacturers for causing students educational crises
What would you do if you were subject to a liability suit for more than your current insurance covered?
Thankfully, here at InsuranceHub, we help:
- Electronic manufacturers
- Appliance manufacturers
- Car manufacturers
- Parts manufacturers & more
We understand the liabilities that manufacturers like yourself face. Working with mechanical machinery that assembles parts presents its own set of liabilities to protect your employees. Harsh chemicals uses in the manufacturing process require proper storage and disposal according to the EPA. You face the liability that comes from product recalls due to design flaws, improper usage by the end user as well as human mistakes and error.
Types of exposure that product manufacturers need to protection from:
Property exposure: Factories, offices, plants, warehouses and storage yards that house raw materials and finished products provide opportunities for fire, smoke and chemical suppression systems damage and theft.
Equipment breakdown exposures: What if your production equipment and machinery breaks down? This will cause you losing production time & revenue, as well as missing client deadlines.
Inland marine exposures: As long as you have computers, valuable records, accounts receivable, as well as products coming in and out of your factories, you have a potential exposure here fire, theft, spillage, contamination, and collisions.
Premises liability exposure: Chemicals are used daily in the production process. A fire could cause toxic fumes that could injure or kill your employees.
Products liability exposures: End users could be hurt by defective parts and products. Small parts can be swallowed by toddlers. Chemicals used in glues, epoxies and adhesives could be toxic. People have been injured because of improper storage, packaging or labeling. Manufacturers directions can be difficult to understand and cause improper assembly or installation.
Environmental impairment exposure: The end byproduct of the manufacturing process is often pollution of air, ground and water. Work along with the EPA to ensure you are working within state and federal guidelines.
Automobile exposure: Check all driver's DMV records before training them to drive. Make sure that all drivers have proper CDL and HAZ MAT licensing. Provide preventive maintenance on all vehicles and keep detailed records of your maintenance program.
Workers compensation exposures: Factories provide a fertile ground for Injuries from burns, slips, trips, falls. Chemicals can cause eye irritation and burns. Back injuries can result from improper lifting techniques. Teach economical processes to avoid repetition stress injuries.
Minimum recommended manufacturing insurance coverage:
- Business Personal Property
- Business Income with Extra Expense
- Equipment Breakdown
- Employee Dishonesty
- Accounts Receivable
- Goods in Transit
- Valuable Papers and Records
- Environmental Impairment Liability
- General Liability
- Employee Benefits Liability
- Commercial Umbrella Liability
- Hired and Nonownership Auto Liability
- Workers Compensation
Other product manufacturers insurance coverages to consider: