Risk Management Blog - ClearRisk

Manufacturing Risk: How Do You Compare to Industry Averages?

Posted by Rebecca Webb on Tue, Oct 24, 2017 @ 15:10 PM

 

As a business owner or key stakeholder, it is critical to ensure that your organization is properly covered in case anything goes wrong as you conduct your operations. As a manufacturer, you must be able to adequately protect yourself from theft, property damage, and product liability. But how much insurance should you be paying for? How much can you expect claims to cost, and how often should these incidents really be occurring? Read more to find out how your business compares to industry-wide averages.

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Topics: product liability, manufacturing risk management, manufacturing claims management, manufacturing industry average, average manufacturing costs, average manufacturing claims

3 Most Common Claims Facing Manufacturers

Posted by Rebecca Webb on Tue, Sep 12, 2017 @ 15:09 PM

 

As a manufacturer, have you considered what could happen if something goes wrong in your production line? What if a defective product leaves your factory doors and makes its way to a consumer? Do you know what types of warnings and labels you are responsible for? Your work does not end when your product leaves in a shipment. Liability risk management extends so much further. Consider these common claims:

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Topics: risk management, manufacturing risk management, manufacturing product liability, manufacturing claims management, manufacturing duty of care

12 Best Practices for Mitigating Product Liability

Posted by Maegan Marshall on Wed, Nov 30, 2016 @ 13:11 PM

All manufacturers carry a duty of care in providing consumer products that are safe for its intended use. If an incident occurs, establishing who is at fault can be a long, tiresome, and expensive process. That’s why it’s important to ensure your organization is taking all necessary precautions throughout the entire manufacturing lifecycle. A comprehensive understanding of what you can do to reduce your liability is an essential step towards building a stable financial plan.

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Topics: legal risk, product liability, manufacturing risk management, manufacturing product liability, manufacturing EHS, manufacturing process management, duty of care liability, incident tracking, manufacturing claims management, manufacturing incident management, product design liability, manufacturing duty of care, commercial product liability