Manufacturing Insurance
What Does Manufacturing Insurance Mean?
Manufacturing insurance is a type of commercial insurance designed to protect manufacturing companies from various risks associated with their operations. It provides coverage for assets, production capabilities, legal claims, business interruptions, workers’ compensation, and commercial vehicles.
Workers’ compensation is particularly crucial for manufacturing companies, as they often employ a large workforce and face the potential for multiple compensation claims.
Insuranceopedia Explains Manufacturing Insurance
Manufacturers face significant risks not only because they often employ a large workforce but also due to the inherently hazardous nature of manufacturing work. The use of heavy machinery can increase both the likelihood and severity of workplace accidents.
Business interruption coverage, a key component of manufacturing insurance, is vital if operations are temporarily halted, such as in the aftermath of an accident.
