Producing impactful and unique solutions for the manufacturing industry.
On a given workday, manufacturers can face a wide range of risks related to employee turnover, productivity, product safety, outsourcing, waste disposal, environmental regulations and workplace accidents, to name a few. Our manufacturing practice specializes in working with high-hazard product manufacturers, such as those businesses in textiles, automobile components and plastic and rubber, with more than 75 employees.
Our team of experts knows the regulatory risks facing the manufacturing industry and can help reduce your exposure to OSHA violations, environmental fines, product recalls and more.
No matter the level of risk or what new challenges arise, our RiskIMPACT™ process addresses the unique needs of the manufacturing industry. Learn more about our manufacturing business below.
- Automobile components
- Medical equipment products
- Metal fabricators
- Electrical products
- Concrete products
- Wood products
- Specialty machine shops
- Household products
- Machinery and equipment manufacturers
- Aircraft components
- Plastic and rubber manufacturers
Risk Control/ Advisory Services
- Product recall coverage
- Fire-and-wind-related coverage
- Umbrella coverage
- Automobile liability coverage
- Workers’ compensation and employer’s liability coverage
- Comprehensive equipment breakdown coverage
- Spoilage/temperature change coverage
- Equipment breakdown coverage
- Alternative risk financing
- Occupational accident coverage
- D&O / management liability
- Manufacturing insurance
Reducing claims costs and improving productivity.
RiskIMPACT™: >$200,000 per year
A large manufacturer recently came to Gibraltar’s risk management experts from the largest insurance broker in the world. When our thorough RiskIMPACT™ process identified several areas of concern, especially in workers’ compensation, the organization’s executives were surprised we found such critical problems with the account. Even though their insurance documentation was ideal, nothing was being done to manage the underlying risks that drive the cost of the insurance.
The industrial manufacturer’s internal cost per claim was more than $5,000 in lost productivity, overtime and retraining. By implementing our primary and secondary prevention strategies, we reduced the organization’s claims count by 75%, netting them a soft dollar savings of roughly $200,000 per year. In addition, we were able to help reduce their average annual loss from $11,424 to $2,594, which led to six-figure savings through decreases in premium.