Sport Manufacturing Companies | Product Overview Product overview United Insurance Brokers Ltd Sports Manufacturing Companies The UK is the 11 th largest manufacturing country in the world, with the industry contributing 10% of GVA, accounting for 44% of total exports and directly employing 2.6million people (1) . About United Insurance Brokers Founded in 1987, UIB is an independent, international insurance and reinsurance Lloyd’s broker with headquarters in London and offices worldwide. Within UIB the UK team is a dedicated division with over twenty five years’ experience in placing insurance policies; designing flexible insurance solutions that are reflective of the numerous ever evolving business risks that the Manufacturing and Engineering sectors are faced with. At UIB we understand that as a business grows it often brings about more complex risks; knowing that your insurance programme has been tailored to your needs gives you the confidence to focus on business growth and development. Whether it is property insurance for factories, Employers’ Liability for staff or motor cover for distribution fleets UIB UK are here to advise you. Commercial combined Your Assets Your Company will benefit from ‘All Risks’ cover for plant machinery, contents, stock tenant’s improvements, and computers. This means you can cover most eventualities while the policy will clearly list the exclusions. Business Interruption – This section covers your business for loss of income during periods when you cannot carry out business as usual following insured damage to your assets, with some customer and supplier extensions available. This insurance aims to put your business back in the same trading position it was in before the event occurred. The coverage can be designed to respond by protecting the Gross Profit/Revenue predicted, or restricted to Increased Costs of Working Only, to rehome your business temporarily whilst the premises or property of your usual business location is repaired. 1. Statistic from EEF – The Manufacturers’ Organisation / http://www.themanufacturer.com/uk-manufacturing-statistics/
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Sport Manufacturing Companies | Product Overview
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United Insurance Brokers Ltd
Sports Manufacturing Companies
The UK is the 11th largest manufacturing country in the world, with the industry contributing 10% of GVA, accounting for 44% of total exports and directly employing 2.6million people(1).
About United Insurance BrokersFounded in 1987, UIB is an independent, international insurance and reinsurance Lloyd’s broker with headquarters in London and offices worldwide.
Within UIB the UK team is a dedicated division with over twenty five years’ experience in placing insurance policies; designing flexible insurance solutions that are reflective of the numerous ever evolving business risks that the Manufacturing and Engineering sectors are faced with.
At UIB we understand that as a business grows it often brings about more complex risks; knowing that your insurance programme has been tailored to your needs gives you the confidence to focus on business growth and development. Whether it is property insurance for factories, Employers’ Liability for staff or motor cover for distribution fleets UIB UK are here to advise you.
Commercial combined
Your Assets
Your Company will benefit from ‘All Risks’ cover for plant machinery, contents, stock tenant’s improvements, and computers. This means you can cover most eventualities while the policy will clearly list the exclusions.
Business Interruption – This section covers your business for loss of income during periods when you cannot carry out business as usual following insured damage to your assets, with some customer and supplier extensions available.
This insurance aims to put your business back in the same trading position it was in before the event occurred.
The coverage can be designed to respond by protecting the Gross Profit/Revenue predicted, or restricted to Increased Costs of Working Only, to rehome your business temporarily whilst the premises or property of your usual business location is repaired.
1. Statistic from EEF – The Manufacturers’ Organisation / http://www.themanufacturer.com/uk-manufacturing-statistics/
United Insurance Brokers Ltd Corporate & Commercial
Sport Manufacturing Companies | Product Overview
Liability
Employers’ Liability – This insurance is a compulsory requirement, it protects you against the cost of compensation claims arising from an employee’s illness or injury, sustained whilst they are working for you at your premises or caused off site.
Public and Products Liability – This section covers the costs of claims made for injury to third parties or damage to third party property arising out of your business and products sold and/a supplied.
Policies can also include; Money, Personal Accident (Assault), Theft by Employees, Goods in Transit and the like.
Specialised coverProduct Guarantee and Recall – Will cover the costs associated with a product failing to perform and being recalled, these costs can be substantial as can the damage to the brand name if not handled professionally.
Computers and Electronic Equipment – Whilst computers can be covered under a commercial policy the coverage under a separate computer policy offers a broader range of exposures with tailored extensions. There are four core covers; Material damage, Reinstatement of data, Increased costs of working and Computer breakdown.
Cyber – Cyber-attacks can come from anywhere. They can be malicious or accidental and be generated either internally or externally. Cyber-insurance is designed to support and protect your business if it experiences a data breach or is the subject of an attack by a malicious hacker that affects its IT systems and networks.
Engineering coverYour Plant and Machinery can also be insured for Accidental Damage, Explosion or Breakdown within the engineering insurance sector. Cover under an engineering policy is wider than that is provided by a property insurer who will not, in the main, cover the breakdown element of the risk.
Engineering Inspection – This is an essential aspect of ensuring the safety of your plant and machinery. It is a statutory requirement that certain items of lifting and pressure plant are inspected throughout the policy year as well as wider inspection services and inspection of Electrical installation and wiring.
Business Interruption – Certain plant can be critical in the manufacturing process and down time can impact your turnover. It is important to ensure the Business Interruption is modified in line with the cover for physical damage.
Professional LiabilitiesDirectors and Officers – After the introduction of the Companies Act 2006 Directors and Officers are at an ever increasing risk of civil, criminal and regulatory action by their companies’ shareholders, employees, customers, competitors, creditors, liquidations and regulatory bodies. D&O is designed to protect these exposures as far as possible, and give executives the peace of mind they need in undertaking their professional duty.
Professional Indemnity – If and when people rely on your professional expertise, and you provide this as a service for a fee, then you should buy Professional Indemnity Insurance to protect your business from claims made by dissatisfied customers.
United Insurance Brokers Ltd Corporate & Commercial
Sport Manufacturing Companies | Product Overview
Transit coverMarine Cargo – If you are an importer, distributor or exporter of goods this insurance will be fundamental as it is the insurance of property as it moves across locations. It covers the national and/or international movements of equipment, materials or goods in transit either by air, ocean, rail, road or other conveyance. Whilst in transit the policy covers events such as theft, pilferage or hijack, transportation mistakes and accident to the carrying conveyance such as the vessel sinking, aircraft crash or vehicle fire.
Stock Throughput – Is normally an extension of a marine cargo policy incorporating the Stock element from your commercial combined policy. Written on an ‘All Risks’ basis a Throughput policy avoids any gaps in cover by extending cover to include wider coverage terms (‘A’ Clauses on stock and not on a named peril basis) and covering third party locations that the non-marine market would not include.
Commercial Motor Insurance – If and when your employees drive company vehicles it is your responsibility to purchase motor insurance. Commercial motor insurance also known as ‘Fleet’ is designed to help manage and control your company’s vehicle operations from the day to day management, to the claims handling, insuring all vehicles under one policy to help reduce the running costs of keeping your employees moving.
TestimonialsChampion Manufacturing design and manufacture safety critical headwear, exporting their products worldwide. Due to the nature of the products UIB place the company’s liability insurance through Lloyds of London the world’s specialist insurance market.
● “We manufacture in Britain and sell safety products all over the world so comprehensive but affordable insurance is essential for us. UIB manage our insurance requirements with a keen eye for detail and price. With UIB as our specialist broker we are safe in the knowledge that, should a claim arise, everything is in place.”
Proline – Proline Sports and Medical Supports are a leading professional sports support and brace manufacturer. Proline specialise in the evolution and design of many different supports, braces, guards, protectors, thermal garments and extreme sports manufacturing. At UIB we place Prolines commercial combined insurance ensuring that all aspects of the business are covered in a single policy so that Proline can continue to supply across the UK and worldwide markets.
Toggi clothing is for those that love the outdoors. Toggi design and manufacture textiles, footwear and accessories for men, women and children. UIB arrange the company’s portfolio of commercial insurances including their commercial combined, stock throughput, engineering combined, and private healthcare.
● “With UIB as our broker and in-house risk manager working in the background supporting our business insurance needs we can focus on driving our business forward.”
United Insurance Brokers Ltd69 Mansell Street, London, E1 8AN
T: +44 (0)20 7488 0551 | W: www.uib.co.uk
United Insurance Brokers Limited is an accredited Lloyd’s insurance broker, authorised and regulated by the Financial Conduct Authority (FCA).
Stephen Palles-Clark AciiExecutive Director Corporate and Commercial Division
T: + 44 (0) 20 7338 1635M: +44 (0) 7796 548 217E: [email protected]
Christopher BatesAssociate Director
T: +44 (0) 20 7264 1609M: +44 (0) 7500 446 287E: [email protected]
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