Engineering encompasses the scope of design, manufacture, commissioning and testing of all types of disciplines including Mechanical, Electrical, Plastics, Bio-medical, Aerospace, Agricultural, Chemical, Industrial, Marine and many more!
Engineering Insurance is as broad and sometimes complex as the professionals it protects.
From consulting engineers to design and even up to manufacture and warehousing, each Engineering risk has its own unique history and exposure to risk. No engineering business is the same.
Engineering applies a variety of factors to a situation in order to find a solution to an existing or potential problem. The ability to interpret mathematical equations and understand scientific concepts are just some of the skills that engineers use to develop a concept or product. This equates to our role as Insurance Brokers in ensuring we understand and adequately protect your risk exposures.
Many Engineering Insurance policies need careful consideration to Intellectual Property, Moulds and dies and the costs to replace them; not to mention the increasing reliance on computer and IT to design and manufacture items.
- Is your machinery registered plant?
- Does it operate on Boiler pressure or compressed Air?
- Do you have cover when your new equipment is being commissioned and tested?
- What equipment relies on electronic and digital processing or specialised software?
- What fire and security measures are in place
The challenges don’t end there. The ability to design insurance policies to compliment your risk management strategies to ensure you are able to continue trading after a loss by securing alternative premises, outsourcing of manufacture, re-distribution of stock, importing and commissioning specialised machinery and cover to provide funds for all this increased activity whilst maintaining your Gross Profit, payroll and ensuring the business recovers as quickly as possible.
Engineering when referred to in Insurance terms often means only the electronic, electrical and mechanical cover provided to machinery; so be careful of the terminology. A typical Engineering Insurance package will encompass asset protection, professional negligence, liability protection and cash-flow protection.
We also provide cover for unregistered plant, vehicles and specialist machinery and electronic equipment.
Nothing can replace professional expertise advice from an experienced Specialist Insurance Broker.
To arrange an introduction with our Engineering Insurance Specialists, please either call 07 5313 7871 or complete the form below.