As efforts continue nationwide to fortify domestic manufacturing, a number of trends impacting the manufacturing industry and the corresponding insurance landscape include, among others, the following:
- Supply chain concerns, like persistent disruptions causing inventory shortages and problems sourcing raw materials, leading to longer production times and increased costs.
- Cybersecurity threats as manufacturing relies more heavily on digital technology, making cyber insurance essential to mitigate the associated financial risks.
- An evolving and more complex risk environment, requiring proactive management.
Manufacturing companies need to understand and monitor these trends to mitigate any associated risks to maintain growth and operational success.
Insurance providers can ensure that manufacturers have adequate coverage for evolving risks, including supply chain disruptions and cybersecurity threats. Manufacturing insurance can be tailored to individual needs, addressing specific exposures like equipment breakdowns, product liability, and employee safety.
The professionals at Evergreen Insurance have the expertise and knowledge to provide these essential services, and more. Contact us today to start a conversation.
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Evergreen Insurance provides these updates for information only, and does not provide legal advice. To make decisions regarding insurance matters, please consult directly with a licensed insurance professional or firm.
