MANUFACTURING

Experience

  • We have assisted manufacturing clients headquartered in numerous jurisdictions throughout the U.S. as well as Canada.

  • Our manufacturing clients range from heavy industrial manufacturing to technology and life science products.

  • Their operations, either through owned or contract facilities, usually include a foreign if not global aspect.

  • We work in flexible engagements including both one-time projects (e.g. broker RFPs, risk assessment and insurance program reviews) and in an ongoing role as an integral part of the client's risk management function.

 

Services

  • Insurance Audits: We provide comprehensive reviews of insurance programs for adequacy of coverage and reasonableness of terms and conditions, based upon our assessment of exposures to loss and each client's appetite for risk-assumption. In developing our recommendations, we consider the coverage maintained by comparable manufacturing clients. We examine policy limits, deductibles/retention levels, breadth of coverage including detailed policy terms, conditions and exclusions, reasonableness of premiums, and identify major coverage gaps.

  • Evaluation of potential property and business interruption losses arising out of international operations is an important part of the risk management process. This includes potential loss of foreign assets, raw material imports, sold product exports, and business income arising out of key foreign suppliers or customers.

  • Coordination of global insurance coverage is another focus area. Our experience spans all coverage areas including property, casualty and management liability.

  • Ongoing Assistance: We serve in a variety of functions depending on clients’ needs. This may include annual policy reviews and insurance renewal negotiation assistance.

  • Contract Assistance: Insurance compliance and contractual risk transfer to vendors and service-providers.

  • Broker Selection: We evaluate the services provided by the client’s insurance brokers and, when appropriate, conduct a broker RFP process aimed at selecting an insurance broker with the qualifications, experience, skills, and service reputation that best fits our client’s needs.

  • Enterprise Risk Management (ERM) assistance: We facilitate comprehensive risk assessments and assist clients in developing ERM programs. This may include guidance on establishing proper risk governance/oversight and facilitating ongoing use of a Risk Heat Map, Risk Register, and Risk Mitigation Tracker


 

Joe C. Underwood, CPCU, ARM-E

Manufacturing Practice Leader

72 River Park St., Suite 201
Needham, MA 02494
Tel: 781-449-2866
Fax: 781-449-5340

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