Manufacturing and Engineering Insurance
"Engineers ... are not superhuman. They make mistakes in their assumptions, in their calculations, in their conclusions. That they make mistakes is forgivable; that they catch them is imperative" - Henry Petroski (Engineers Creed)
Due to the use of machinery within the workplace, manufacturers and engineers face very different risks than other businesses, the risk of injury being the most obvious.
Many manufacturers arrange their insurance cover without answering some of the most important questions:
- Where in the world are your products going and how much damage could they cause?
- How much could you be sued for if your product doesn't do its job properly?
- If your biggest machine broke down the day before a deadline could your business survive?
- Who are your customers re-selling your product on to and are you still liable?
It is important to understand that not all insurance policies offer the same level of cover. Many UK engineering and manufacturers are often exposed to risks and do not realise that they're not covered should those risks turn into reality.
At Leopard Risk Management in association with Gauntlet, we do understand these risks. We take the time to build a thorough understanding of your products, processes and customers in order to ensure that your business gets the right level of cover at a price that can protect or even increase your profit margin.