While there are challenges in the manufacturing sector – such as those around maintaining quality control in ever more complex supply chains, increasing regulation, and concerns over Brexit – overall, it remains one of the UK economy’s healthiest sectors. This is due in large part to the rapid development of new technologies, materials and processes, which are fuelling competition and bringing about opportunities for growth.
Completely new business models are evolving and more change is on the horizon. Applications for game-changing materials such as graphene will begin to appear, generating new industrial processes and opening up new markets. New distribution methods – such as 3D printing – will change the way products are delivered and supply chains are structured. Nanotechnology and innovations such as driverless cars, smart medicines and the 'internet of things' will transform markets.
In this rapidly changing environment, those companies that succeed will be those that become chameleon-like, constantly adapting to changing demands, materials and labour resources.
QBE has a long history of supporting manufacturing companies, from SMEs to multinational organisations. We can support businesses through their entire life cycle, from product inception to manufacturing, sales and delivery. We offer a range of relevant covers – including Property, General Liability and Employers’ Liability – and we are also able to combine all of the products you need.
Our underwriters take the time to understand the nuances of your products and your business. We work hard to understand who your customers are and what they expect, and we consider in detail the likely impact of any incident on your operations. That allows us to assess your exposures effectively and create a policy that meets your precise requirements.
As we understand how vital it is to keep any interruption to your business to an absolute minimum, our Claims team is committed to reaching fair settlements as quickly as possible. We also provide sophisticated risk management support to help you reduce your exposures, lower your claims costs and potentially lower your premiums, too.
We offer protection from damage to your organisation’s physical assets, as well as any resulting disruption to your business. Our experience and expertise allow us to help manufacturing companies of all sizes, from single-site operations to multinational conglomerates.
Read more about Property
We understand that your people are an asset and their well-being is high on your agenda. Our cover responds to injuries in the workplace and industrial diseases. Through proactive loss management, risk management insight and rehabilitation services, we can help you limit the hidden costs of business downtime.
Read more about Employers' Liability
Whether you are manufacturing components or finished products, product failures can generate claims and damage your reputation. Under our General Liability policy, we will cover you for any losses stemming from such claims and provide hands-on support to minimise the impact on your business.
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Claims for professional negligence can arise in any part of the manufacturing sector, from product design to manufacturing and testing. We provide comprehensive cover for losses and defence costs if a third party brings a claim against you.
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We provide comprehensive protection for your motor fleet vehicles when they’re out on the road. This includes protection against third-party claims for bodily injury, as well as first-party accidental damage. Our Motor Risk Solutions team can also work with you to reduce your accident frequency and claims costs.
Read more about Motor Fleet
Late deliveries and damaged or missing equipment or materials can result in cripplingly expensive delays for manufacturing firms. We provide wide-ranging Cargo cover that protects you against loss of or damage to goods in storage or in transit.
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The explosion in digital technology across the manufacturing sector makes cover against cyber crime, data theft and server downtime increasingly important. QBE is one of the few insurers that can provide wide-ranging Cyber cover, along with 24-7 support to get your systems back up and running after an incident.
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With an increasing trend for regulators and stakeholders to hold directors and officers personally responsible when problems arise, their personal assets are at stake. Directors’ and Officers’ Liability insurance covers individuals for financial losses arising from actual or alleged wrongful acts.
Read more about Directors' and Officers' Liability