Insuring Manufacturers: Specialty Coverage for Clients & Specialized Support for Independent Agents

2 months ago 6

This post is part of a series sponsored by The Cincinnati Insurance Companies.

“Manufacturing coverage is not one size fits all,” notes Chris Gaylor, National Program Director for Manufacturing at The Cincinnati Insurance Companies. In recognition of the complexities and unique risk profiles of manufacturers, Cincinnati Insurance offers solid support services to agents seeking coverage for their clients through a dedicated manufacturing team. Gaylor, a Certified Insurance Counselor with over a decade of underwriting experience, also specializes in the food industry with Hazard Analysis Critical Control Points (HACCP) and Preventive Controls Qualified Individual (PCQI) certifications. His team of 14 manufacturing-focused underwriters and, in most cases, a network of community-based field marketing and loss control representatives support agents and their clients.

“Our manufacturing team is unique for the industry. Not many carriers have a dedicated team to underwrite and support renewals for a specific business line,” shares Gaylor. As the dedicated leader of this division, Gaylor adds, “I have the pleasure of going out and visiting with our insureds and discussing their unique operations, offering a personal touch.”

Protection for Manufacturers

Cincinnati Insurance offers an array of specialty coverages for manufacturing clients, developed to close possible coverage gaps in a commercial insurance policy. These include the following:

Food & Beverage Industry Transportation Form: addresses the unique risks in the food and beverage sector with coverage for spoilage during transportation. Craft Beverage Industry Tank Leakage/Tank Collapse Form: offers a custom form for specialized equipment failure for the craft beverage sector. Manufacturer’s Errors & Omissions Form: offers highly customizable coverage for manufacturers in the event a product defect causes financial harm to a third party, closing the gap in coverage for product liability caused by the “Impaired Property” exclusion. Contingent Busines Interruption Coverage: provides coverage for loss of business income when an insured’s operations are suspended due to a direct physical loss to a dependent property. Worldwide General Liability Extension: expands coverage for U.S. manufacturers operating beyond our borders.

“We continuously evaluate emerging risks, such as those inherent in new technologies employed by manufacturers,” Gaylor explains, “We are currently evaluating liability associated with nanotechnology, 3D printing and artificial intelligence.” Cincinnati’s manufacturing team regularly communicates evolving threats, newly developed coverages and best practices with independent agents as on-going support.

Contingency Planning

Manufacturers, like any commercial business, can experience downtime due to natural catastrophes, supply chain interruptions, workforce issues and more. However, as manufacturing facilities become more technologically sophisticated, use of highly specialized equipment and automation bring heightened risk of downtime from potential equipment failure or cyber-attack. Cincinnati Insurance considers contingency planning an integral part of its risk mitigation services for manufacturers. The underwriting team looks for inherent risks associated with the manufacturer’s facilities, equipment and production, to support preparedness efforts and reduce losses. For additional agent support, the team includes community-based loss control specialists who are designated Associate Business Continuity Planners, and are ready to provide direct consulting services to manufacturing clients.

Local, Dedicated, Experienced

“The number one thing that I hear from our agents and our insureds is that they like coming to Cincinnati Insurance because of our local presence, of having someone, in most cases, in their local community, and having the support of our Headquarters-based specialists to get through the final process. We feel that makes us unique in the industry,” Gaylor shares. To address the unique risks of an agent’s client or prospect, Gaylor and his team will go the extra mile – whether that means actual travel or after-hour support — because personal attention is critical to the success of insuring a complex risk.

To learn more about insuring your manufacturing risk with The Cincinnati Insurance Companies, visit: https://www.cinfin.com/business-insurance/industries/manufacturers

Topics Agencies Excess Surplus Manufacturing

Chris Gaylor

About Chris Gaylor

Chris Gaylor leads the Commercial Target Markets Manufacturers’ Program. He joined Cincinnati in 2007 and served in various capacities including commercial lines underwriter and field marketing representative before being named to his current role in 2016. His professional credentials include the 16-hour HACCP certification, the 20-hour PCQI certification and the Certified Insurance Counselor designation. 

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