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Other Manufacturing

Industry-Specific Knowledge Insurance Solutions Recommended

Industry-Specific Knowledge

The industrial manufacturing sectors (such as Precision Machinning, Electronics Industry, Light Industry..) has been experiencing a surge in risk exposure in recent years, driven by various factors such as chnological advancements, global supply chain complexities, and environmental concerns & satety. The increasing reliance on complex supply chains and just-in-time production has led to a higher risk of inventory damage, theft, and loss due to transportation disruptions and storage issues.

Moreover, the rise of e-commerce has created new risks such as cyber attacks, data breaches, and product liability claims. Furthermore, the growing emphasis on environmental sustainability has introduced new risks related to regulatory compliance, product contamination & recall, and reputational damage.

The increasing frequency and severity of fire and natural disasters, such as lightening, flood and storm, have also added to the risk landscape. As a result, it is required to establish and implement effective risk management strategies to mitigate potential losses.

Insurance Solutions Recommended

Motor Vehicle Insurance (MV)

There is also coverage for physical damage to your vehicles such as theft, collision, fire &explosion, natural disaster.

Public Liability (PL)

It is essential for the policyholder/insured to meticulously scrutinize the selected option to comprehensively grasp the advantages and disadvantages of each version.

Cargo Insurance (CI)

Covers the risk of loss or damage to goods during transit, storage, or warehousing. It provides financial protection against theft, fire, water damage, and other perils.

Environmental Impairment Liability (EIL)

Environment Impairment Liability (EIL) insurance provides coverage for damages or losses resulting from environmental pollution or contamination

Cyber Liability Insurance (CLI)

Protects against data breaches and cyber-attacks leading to increasing IT costs, ransomware, business interruption, reputational damage etc…., which are increasingly relevant for firms storing and processing client sensitive data and operating on a worldwide internet/digital environment like professional services firms

Directors and Officers Liability Insurance (D&O)

Covers individual Director against E&O and wrongful acts claims, either alleged or actual, arising from their civil liability under the duties of a director, manager or supervisor

Property Insurance (PD)

Cover for physical damage happening to tangible property (building, machines & equipment, tools, stocks, forklift…) such as fire, storm, lightning, flood…

Employees benefits and Healthcare (EB&H)

IIB provides advisory to build the most robust and adapted employees benefits scheme that fits your operations, size and HR strategies. We also provide broking services for Healthcare, Workers’ Compensation Insurance (WCI) and Personal Accident (PA)

Delay in Start-up (DSU)

DSU insures project owners for the financial consequences (as described in the policy) of a delay to project completion arising from an insured physical damage event.

Trade Credit Insurance (TCI)

Solution for bad debt protection. It protects the Firm against non-payment of invoices by covering your receivables due against unexpected commercial and political risks (customer bankruptcy, changes to import and export regulations, etc...)

Construction All Risks (CAR)

Provides comprehensive insurance coverage for construction projects, including risks such as damage to work, delay in completion, and loss of or damage to materials. Coverage extends to the contractor’s equipment, temporary works, and site personnel.

Business Interruption (BI)

The policy cover for losses resulting from business interruption caused by accidental damage to a building or property used for business purposes at the insured premises.

Contaminated Product Liability (CPL)

Covers businesses against financial losses resulting from defective or contaminated products, including recalls, product withdrawals, and damage to reputation. Coverage includes damages to third-party property, bodily injury, and consequential damages, as well as defense costs and penalties. Policy limits vary depending on the industry and risk.

Employer Liability Insurance (ELI)

Covers employers' legal liability for work-related injuries or illnesses to employees. It provides financial protection against employee claims, including medical expenses, lost wages, and rehabilitation costs. ELI also covers claims related to employee death, disability, and mental health issues.

Travel Insurance (TVI)

Provides financial protection against unexpected events while traveling, such as trip cancellations, medical emergencies, travel delays, medical evacuation, and medical expenses, lost or stolen luggage, travel documents, and personal effects.

Master policy

is the tailored made program for company who have various type of assets/ risk locations/ comprehensive risks for better management and volume to negotiate with risk carriers in both purchasing and claim process.

Parametric Insurance

Provides coverage based on specific, measurable events, such as earthquakes, hurricanes, or floods, lack of wind, lack of solar, pandemic…. Policies pay out a fixed amount based on the intensity of the event, rather than the actual damage caused. This model provides rapid and transparent payouts, often within hours of the event, with reduced administrative costs.

Product Recall Insurance (PRC)

Covers the financial losses arising from a product recall campaign, including costs for notification, removal, replacement, and disposal of defective products.

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