Insurance and risk management designed for the competitive market manufacturers face today
From increased globalization and supply chain vulnerabilities to more frequent and severe cyber threats and natural catastrophes, protecting your manufacturing business is more complex than ever.
At Chubb, we have expertise in a wide range of manufacturing areas, from technology and aviation to defense and medical devices. Our experienced underwriters and risk engineers understand the unique challenges facing the manufacturing industry and will work with you to find the right solutions for your business.
“We have a global network, but we have a local presence in 54 countries and territories. This really helps our team navigate complicated and severe exposures in a way that many of our competitors cannot.”
When a tornado hit the Vermeer manufacturing company in Iowa, Chubb quickly mobilized their specialists to address the devastating effects and return the company to full working order as quickly as possible, while assessing and repairing the damage.
PRODUCTS & SERVICES
PRODUCTS & SERVICES
Chubb's manufacturing insurance industry practice offers protection to companies of all sizes
Property insurance with equipment breakdown
Industry-specific coverage that can be purchased packaged or monoline for losses caused by equipment breakdowns, with a focus on getting your company back to business as soon as possible.
A recall event can be debilitating to a company’s balance sheet; product recall coverage can reimburse you for expenses and other financial losses that are typically excluded on a general liability policy.
In addition to coverage for large, multinational companies, Chubb covers small and midsize businesses with three package policy options — Business Owners Policy (BOP), Benchmarq, and Customarq. Each combines property, business income, and general liability insurance, and can be tailored for your specific exposures.
Protect your small business with this customizable insurance package policy. It offers a combination of property, business income, crime, employment practices liability, cyber, and general liability coverages, as well as the ability to add supporting insurance solutions specifically tailored to your small business needs.
Designed to be scalable for small to midsize businesses, Benchmarq is a flexible, customizable package including property, business income, and general liability insurance. Featuring enhanced base coverages that are broader than the industry standard, Benchmarq makes it easy to add protections as your business grows or risks evolve.
Our proprietary package product offers midsize businesses property, business income, and general liability insurance with a wealth of options to suit your needs. Customarq’s modular approach provides unmatched flexibility to protect against global exposures and industry-specific perils, and to quickly respond to emerging and evolving risks.
Our interactive state of the art facility for the next generation of risk management can help your manufacturing business reduce the risk of loss. We offer both in-person and remote training courses in maintaining the safety of your property, workplace, and commercial fleet.
Learn how we bring Innovative, customized solutions to our advanced manufacturing clients.
Risk management procedures to respond to the complex insurance needs of the manufacturing industry
Whether your business takes you around the world or just around town, Chubb is there for you. Our breadth of experience lets us provide the insurance solutions you need, whenever you need it, wherever you may be.
Partnership that’s personal
We work to understand your business and where you’re headed so we can be proactive about meeting your needs. We invest in getting to know you, your team, and your customers. The goal: to help you see ahead, be ahead, and stay ahead.
Insurance isn’t one-size-fits-all – and neither is our approach. Our playbook is always evolving because we’re always helping clients avoid risk in smarter ways. That means we bring the latest thinking and a fresh perspective to solving your challenges.
Unmatched expertise and financial strength
Chubb has served served clients and partnered with leading organizations for more than 200 years. Our longevity, expertise, and financial strength are the bedrock of our business. That’s why 90% of Fortune 1000 companies are Chubb insured.
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.
INSIGHTS & RESOURCES
Why you need a risk management program — and how to get started