Product Defects and El Monte Manufacturers Insurance

Manufacturing plants are open to a variety of risks and exposures depending on the types of products being produced and sold, and those risks can vary. If for whatever reason an item that you produce in some way causes an injury due to a defect or, for example, poorly worded instructions about proper use of the product, this can have costly consequences. In order to minimize any liability exposure, or to defend your claims of product safety, it’s going to require El Monte Manufacturers insurance to protect you against any litigation in the event someone is injured while using your product.

Having prior, similar issues may be problematic

The basic principles of safe product design are to weed out any defects in design to eliminate hazards so that the US Consumer Product Safety Commission deems the product safe. If a hazard issue cannot be removed or fixed, then safety devices must be built in to prevent injuries from occurring. In any case, provide warnings wherever and whenever necessary.

In most product liability cases the defendant will try to assert that there’s no evidence of prior accidents. This will require the defendant to establish that, if there had been prior accidents, the defendant would have known about them due to the fact that there was a mechanism in place to check on the safety of the product.

Having no evidence of any prior accidents may simply be a result of there being no record keeping system in place to record such complaints or no knowledge of any actual incidents that took place. Therefore, evidence must be established before proof of a lack of prior accidents would be admissible. In order to lay the proper foundation for a defense of no prior accidents the defendant would be required to show that he or she likely would have known of those prior accidents if they had occurred.

Product Liability Insurance is a must have solution

Defective products are an unfortunate part of the negative aspect of the manufacturing industry. In El Monte it is prudent for companies operating in these types of operations to carry El Monte Manufacturers insurance, which includes product liability coverage. This can help to ensure that, if a lawsuit is the result of a claim of an injury due to the use of a defective product, that the company will have provisions as a result of having proper coverage in place.

Managing Risk and Factory Insurance

The manufacturing industry provides goods and services for numerous companies and consumers that purchase those products. These businesses are responsible for the continued growth of our great nation. The manufacturing industry is also essential to our country’s success as it provides job opportunities for millions of Americans while contributing to the nation’s standing as an economic world power.

If you own or operate a factory or manufacturing plant, you have risks and exposures that could result in huge financial losses. You owe it to yourself and your clients and workers to carry sufficient amounts of factory insurance to mitigate any issues that may arise from day-to-day operations. Properly managing risks is essential to your existence as well as your growth.

You need to take the time to review your exposures to determine whether your current insurance coverage addresses them effectively enough. You’re likely going to need to invest in several policies in order to close any existing insurance gaps while realigning your current coverage, as this can wind up lowering your overall insurance costs.

 

Certain exposures can result in great financial loss

Along with your employees, your equipment is perhaps your greatest asset. A breakdown in your equipment will have the potential to cripple your business and you need to be able to minimize your losses. You should be prepared for situations that could potentially knock your operations off line and know exactly what it will take to get your operation back up and running should you be forced to shut down and rebuild after a loss.

Also, ask your agent to take a good hard look at your liability exposures to assess how much you can afford to risk in the event of a significant loss. The agency you choose to partner with should not only be experienced in your industry, but responsive and efficient. Those working exclusively with manufacturers will better understand your concerns and be able to address certain issues related to your field of work, thus allowing them to negotiate on your behalf for the right factory insurance at the best cost.

It would be easier if all you had to be concerned with was manufacturing products, but there’s also risk management strategies, loss control solutions, employee health benefits and HR services, all of which are required to safeguard your assets, drive down expenses, attract and retain employees and improve your company’s bottom line.

Protect Your Business With Machine Shop Insurance

Machine shops are some of the busiest and most hazardous companies operating today. According to the Bureau of Labor Statistics, manufacturing jobs have some of the highest incidence rates of nonfatal occupational injuries. In order to keep your employees safe and protect yourself from unforeseen expenses, it is important to carry machine shop insurance.

 

What Does Machine Shop Insurance Cover?

 

An excellent general liability policy makes sure that your company is protected from the many common occurrences that could take place at your shop:

 

  • Property Damage. In addition to protecting your own building and equipment, your customers are also covered in the event that their personal property is damaged while visiting your shop.
  • Bodily Injury. Even at the safest machine shops, accidents can happen. Liability insurance protects your company financially and legally as it covers any medical care required by your clients or employees that were hurt in an incident.
  • Manufactured Products. If your shop manufactures or repairs goods that go directly to your client, having products and operations coverage is critical to your business. If something were to go wrong with your product, causing harm to the consumer, this general liability coverage would protect you from the financial and legal consequences of a potential defect.

 

In order to keep your company in the black in the event of an accident, make sure that your business carries a comprehensive machine shop insurance policy.

 

photo credit: drp cc