Insurance for Manufacturers

Advanced Manufacturing utilizes cutting-edge technologies and automation to improve efficiency, flexibility, and product quality, enabling customization and rapid adaptation to market demands. Traditional Manufacturing relies on conventional methods and manual labor with limited technology integration, resulting in standardized processes.

In our experience, top perils include fire, extreme weather, and water damage related to plumbing infrastructure. Our middle market survey continues to show that a third or more manufacturers are not fully prepared to respond to disruptions from these basic exposures, so prevention and planning are key. Our Chubb risk engineers work with clients to assess and mitigate exposures in a variety of ways, including business continuity planning for catastrophes such as extreme weather events, a scheduled inspection and maintenance program for fire protection equipment, and more.

Chubb has many differentiating advantages — including the ease of doing business with one underwriting contact, our years of expertise in the manufacturing sector, and our committed, holistic approach — tailoring products and services to your company’s unique needs.

Importantly, our clients find that Chubb is a truly global insurer, able to provide consistent coverage and services around the world, either for individual coverages, or for property, business income, and liability coverages within a package policy. For example, with our Customarq package’s global extension, Chubb can insure domestic and foreign exposures in one policy, including protection against differences in conditions/differences in limits contained in policies issued in a foreign country.

According to FEMA, about 25 percent of businesses do not reopen after a natural disaster, including flooding. How do you ensure your own company recovers quickly? Aside from the extent of damage, the most important factor determining recovery time is whether your company has a thorough business continuity plan. This is because well-prepared companies are better able to continue operations for the duration of their recovery with appropriate business income coverage.

Chubb’s risk engineering team offers expertise in developing and improving business continuity plans, which include contingencies such as having a backup temporary facility, activating alternate suppliers, or redirecting employees to other locations. Developed in close consultation with a business owner or key manager who has in-depth knowledge of the company’s needs, strategy, and operations, an effective continuity plan helps your business get up and running quickly after a disaster.