Looking for Commercial Manufacturers Insurance in Florida?
Manufacturing is a fast-paced, diverse industry with its unique challenges. Consequently, a standard commercial insurance policy won’t serve your manufacturing business well.
Cut Costs
ReNu Insurance Group understands the manufacturing industry and tailors your policy to your niche within the manufacturing industry. A furniture manufacturer shouldn’t rely on the same standard policy as a food or equipment manufacturer. Each has unique risks and insurance challenges.
We analyze your risks, craft a policy specifically for your business, and help you control costs by cutting away unnecessary coverages.
A regular insurance review with us can also help you offset the financial impact of tariffs. When government policies affect your workforce and job creation stalls, we’ll adjust your insurance accordingly. We ensure you don’t overspend on insurance.
Manage Labor Risks
Competition in manufacturing and the lure of other industries can lead to labor shortages. If you do find employees, they may lack the skills and training needed to maintain high safety standards.
Your business may experience high turnover too, which strains your remaining workers. This can lead to overtime and increased fatigue, stress, accidents, property damage, claims, and lawsuits.
Let ReNu Insurance Group protect your business against the staggering costs of litigation, medical bills, and regulatory fines and penalties.
Protect Your Smart Factory
Today’s factories often rely on technology to improve automation and efficiency. However, connected smart factories are also ideal targets for cyberattacks.
Almost a third of manufacturing firms admit they’ve never assessed cyber risk of their industrial control systems, yet targeted ransomware attacks on manufacturing increased 90% in recent years.
Ransom demands are only part of the threat. According to a 2017 report, 90% of companies experience downtime and one in six for over 25 hours. Additionally, recovery costs far exceed ransom demands. Without proper insurance coverage, you’ll shoulder this substantial financial burden.
Limit Liability for Substance Abuse
Many states are choosing to legalize marijuana, and despite your best efforts, impairment could lead to injuries or damages.
If your company has a drug testing program, you’re still at risk. Presently, THC testing doesn’t measure impairment levels and managers probably aren’t trained to recognize risk. Your business could suffer financially for injuries or damages caused by an impaired employee, unless you have proper insurance.
Mitigate Robotics Risks
By 2020, manufacturers will rely on over 3 million industrial robots in their factories. If a robot creates defective products or causes injury or property damage, your business may need to defend itself against a claim.
The laws governing robotics are still in their infancy. However, it has been suggested robots may already be covered under “agency law.” This means employers would be responsible for any claims resulting from their machines, just as you are with employees. Obviously, this is a huge risk you need to address, so let ReNu Insurance Group align your coverage.
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ReNu Insurance Group offers a 45-minute free consultation in our office, or wherever it’s convenient for you. Contact us or complete the fields below to get started. We want to get to know you and your business so we can serve you well.
