Manufacturing
In manufacturing the machine is the business. A fire policy will rebuild the factory, but it will not pay when a single critical machine fails from an internal fault — and that is the loss most likely to stop production.
The risks we see
What actually goes wrong in this sector.
Machinery breakdown
Standard fire and property policies exclude internal mechanical and electrical failure. That requires engineering cover.
Single points of failure
One critical machine with a long replacement lead time can halt an entire line for months.
Stock at several stages
Raw materials, work in progress and finished goods have different values and are often insured as one undifferentiated figure.
Long rebuild timelines
Replacing imported plant takes far longer than rebuilding a shed, which is what makes short indemnity periods dangerous here.
Cover that responds
What we would look at placing.
A starting point, not a recommendation. What you actually need depends on how you operate, and that is a conversation.
Engineering Insurance
Machinery breakdown and plant damage.
Fire & Special Perils Insurance
Buildings, plant and stock.
Business Insurance
Interruption cover, with an indemnity period matched to plant lead times.
Public Liability Insurance
Third-party injury, including product-related exposure.
Marine Insurance
Imported machinery and raw materials in transit.
Gaps we find when we review existing policies
If you already have cover, start here.
These are the things we most often find missing when we read a policy in this sector. Any one of them is worth checking today, whether or not you ever speak to us.
- No machinery breakdown cover, on the assumption the fire policy responds
- Indemnity period of 12 months where plant lead times are 18 or more
- Stock valued at cost rather than replacement, ignoring currency movement on imports
- Business interruption gross profit calculated on the accounting definition rather than the insurance one