Manufacturing Industry Group Contacts
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Understand, collaborate & continuously innovate
Our Manufacturing Industry Group focuses intensely on the current and future needs of businesses in this sector. We direct our research and insight capabilities to understand their challenges and opportunities and we’ll partner with our clients and brokers to create tailored and distinctive value propositions. Meanwhile we will continuously enhance our products and services especially around manufacturing clients’ emerging exposures. All this is underpinned by our long-term industry commitment: to understand, to collaborate and to continuously innovate.
We target a wide range of manufacturers including, engineering, food and drink, textiles, electronics, plastics, automotive and aerospace.
Our strategic partnership with EEF the leading Trade Industry Body for the manufacturing sector positions us well to participate in conferences, seminars and events, collaborate with industry players and acquire and build on industry insights to create new innovative solutions for manufacturing clients.
We can cover the scope of a manufacturing client’s risks: from physical damage and ensuing interruption, to general liabilities, protection for directors and employees and emerging exposures such as environmental and cyber. We also protect outstanding receivables with our Trade Credit offerings.
Our high risk capacity (including a market leading $2.5bn for riskengineered properties) means we can provide 100% coverage, no need for coinsurance or reinsurance, minimising the possibility of gaps in cover and enabling seamless claims service from a single insurer.
For manufacturers with cross border operations and international supply chains we offer outstanding multinational protection. This is based on decades of experience, hundreds of dedicated multinational experts and world class tools and processes to ensure contract certainty, regulatory compliance and global programme control.
To support our clients’ cash flow and maximise their business continuity after a major property damage claim, we will confirm coverage as quickly as possible and advance our client up to 50% of the agreed loss estimate within seven days for property damage, repairs, clean-up costs and extra expenses.
Many existing manufacturing systems were developed when cyber security was in its infancy and today, gaps in security potentially expose manufacturers’ systems and intellectual property to attack. Our cyber health-check for our manufacturing clients delivered by AIG’s expert global cyber partners will assess cyber exposures and the adequacy of existing defences.
Our liability and property loss control engineers with deep manufacturing industry experience help our clients minimise their loss potential, benchmarking their performance against industry peers and highlighting areas for risk improvement strategies to maximise
their business continuity.
We leverage our deep cross-class claims experience for manufacturers and have
run many claims workshops for clients: running loss scenarios and guiding them through the optimum response to accidents, strengthening their defensibility to claims, minimising recurrence and satisfying regulatory obligations.
Our Manufacturing clients receive complimentary access to a comprehensive health and safety eLearning system, to educate staff on essential practices, test their understanding and reduce accidents. It also provides an audit trail of training for compliance purposes for regulators and customers etc.
This interactive booklet outlines just some of the capabilities delivered by our Manufacturing industry group comprised of experts drawn from claims, underwriting and distribution throughout our organisation. Please feel free to download it as a pdf and share with colleagues or clients.
Our industry groups direct our research and insights capabilities to help us better understand each sector’s current and emerging needs. Here is a brief summary of some of issues raised by manufacturing companies and their brokers during in depth interviews carried out in April 2017 that we will be exploring further in our ongoing research programme.
Extended value chains and sudden changes in demand mean that supply chain risks are a strategic issue for manufacturing companies. Risk managers expect insurers to play a more active role in helping them understand and mitigate those risks.
Manufacturing companies told us they would value dedicated wordings for machinery and vehicle engineering as well as food production sectors and would expect one solution to cover all of their needs.
Manufacturing companies and their brokers told us that risk management modelling and advice is very important to them. Insurers need to be able to understand the risks that are specific to different manufacturers and help clients protect their businesses.
While risk managers see the value of risk management modelling, they need to be reassured that such advice coming from carriers would be impartial. Carries cannot use risk advisory as a tool for promoting their own insurance products.