Rethinking manufacturers insurance
With the fast-changing pace of the manufacturing world, the manufacturing industry requires new strategies to manage and mitigate risks.
That's why we introduced Chubb Assembly, a scalable modular insurance solution tailored to help manufacturers close gaps typically inherent in traditional insurance programs.
Loss of Use
Products that include technology (software, circuit boards, firmware, etc) are susceptible to digital malfunction resulting in loss of use claims from end users.
A claim was made against a fire protection system manufacturer when the fire sprinkler system in a F&B establishment did not activate during a fire, causing property damage, business interruption and financial loss.
A F&B manufacturer was targeted by cyber criminals in a ransomware attack, via a malicious file which infected the company's servers. With servers down, production work at the factory came to a standstill as the manufacturer was unable to access their clients’ order details or fulfill any orders. Operations were only restored 5 days after ransom was paid.
The company incurred business interruption costs and financial loss, and clients sued them for loss from non-fulfilment of orders.
Contact us to find out how we can help you get covered against potential risks