Inflation & Rising costs
Just as manufacturing firms begin to recover from the impact of the pandemic, they once again face rising costs as a result of both increases in taxation and the continued rise of inflation. These challenges are further amplified by the current cost of living crisis, the uncertainty it brings to trading and heightened fuel and material prices.
Brexit & New export legislation
Brexit continues to create trading uncertainty in the market. The new 2022 export legislation has caused confusion around GVMS (CIP2) requirements combined with the need for further documented paperwork before goods can leave Great Britain.
Labour & skilled worker shortages
The lack of new skilled workers entering the market will limit higher productivity and growth aspirations as further retirement and voluntary exits continue this year. As flexible working continues, there is a need to find new ways to attract and retain talent renewing a focus on culture, diversity and inclusion within manufacturing organisations.
Manufacturing in the 21st century
Environmental & social commitment
Climate change has brought about a responsibility on manufacturing firms to adapt and move to a net-zero or carbon neutral approaches. Organisations now need to contend with new internal initiatives and sustainability promises to keep up with evolving market demands.
Manufacturing businesses today need advice that transcends traditional insurance and takes into consideration the wider risks facing their business today.
Why do you need specialist manufacturing insurance?
From huge steel girders to small components for food products, finding the right cover in the manufacturing sector is no easy matter. It requires the insight, experience and knowledge to ensure the assets in your business – including your people – are protected, your liabilities are ring-fenced, and the understanding to help you mitigate your risks.
We start by gaining a thorough understanding of your business, then we work with you to develop a proactive and innovative programme that’s fit for purpose.
Sectors we operate in:
Food & Drink
Pharmaceutical & Chemical
Automotive & Aviation
Marine & Defence
Allied trades to the sector
In challenging times there are always opportunities. Businesses able to respond to the ever-changing environment will be able to capitalise on those opportunities and emerge stronger than before.
Building flexibility and resilience into your operation requires:
1. Insight to inform your short, medium and long-term strategy
2. Planning for and stress-testing multiple scenarios
3. Advice to de-risk your operation based upon:
- Appreciation of your activities undertaken in your sector
- Claims defensibility Surveys
- Identification of Health & Safety Risk Management in place
- Consideration of your personal appetite for risk
What makes Partners& different?
We believe insurance broking has lost its way. All too often, the traditional focus on placement and pricing leaves critical gaps in the fundamental basics of the typical general insurance contracts, and insufficient focus on the wider threats to the 21st century Manufacturing business.
Partners& has been designed from the ground up to be the best advisory business in the UK to confront these issues head-on. We’ve brought together the best risk protection advisers in the insurance industry, and together with an extensive ecosystem of specialist partners, we go further to understand your business, diagnose your risks, and stand shoulder-to-shoulder with you across all areas of threat when it really matters.