Cargo in transit
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Directors and Officers Exposure
See how we can help you manage
20 manufacturing industry risks.
Employment Practices
EMPLOYEE FRAUD
Employee injuries
Evolving Workforce Dynamics
Environmental Accidents
Equipment Failures
Large Losses
Global Exposures
Product Recalls
Product Failures
Suspended Operations
Supply Chain Interruptions
Property Damage
Third-Party Financial Loss
Tech Co.
Third-Party Financial Loss
Ocean Cargo
Motor Vehicle Accidents
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See how we can help you manage
14 risks facing software, internet
and IT companies.
SEE THE RISKS
Product Failures
Ocean Cargo
Motor Vehicle Accidents
Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
Environmental Accidents
Employment Practices
Employee Injuries
Employee Fraud
Directors and Officers Exposure
Cyber Risks
Cargo in Transit
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CARGO IN TRANSIT
When products, equipment and other valuable property are in transit over land or stored at a site other than your main business location, they can be exposed to a number of risks, including damage from accidents and theft.
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THE SCENARIO >
THE SCENARIO: Theft of a Major Order
A manufacturer of ignition coils containing copper wire secures a large contract with a major automaker. To meet new delivery demands, the manufacturer contracts with a third-party trucking company to transport the coils. While the driver stops for lunch, his truck and cargo are stolen.
THE SOLUTION: Inland Marine
Travelers Inland Marine* coverage can provide protection when you transport materials, products or property on land, including by train or truck. It may complement your property coverage by better targeting your transport risks. Our Special Investigations Group professionals and risk control services could help prevent these losses or recover stolen items. We have the expertise to address complex Inland Marine issues.
*This coverage can be added to a Travelers Business Owner’s Policy (BOP).
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NEXT RISK: Cyber Risks >
NEXT RISK: Cyber Risks >
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*This coverage can be added to a Travelers Business Owner’s Policy (BOP).
Travelers Inland Marine* coverage can provide protection when you transport materials, products or property on land, including by train or truck.
It may complement your property coverage by better targeting your transport risks. Our Special Investigations Group professionals and risk control services could help prevent these losses or recover stolen items. We have the expertise to address complex Inland Marine issues.
THE SOLUTION: Inland Marine
A manufacturer of ignition coils containing copper wire secures a large contract with a major automaker. To meet new delivery demands, the manufacturer contracts with a third-party trucking company to transport the coils. While the driver stops for lunch, his truck and cargo are stolen.
THE SCENARIO: Theft of a Major Order
When products, equipment and other valuable property are in transit over land or stored at a site other than your main business location, they can be exposed to a number of risks, including damage from accidents and theft.
CARGO
IN TRANSIT CYBER RISKS
For any organization, one paralyzing data breach is all it takes to impact customer privacy and impede a company’s ability to function. A network glitch, a lost laptop – or even the act of storing sensitive data at an off-site warehouse – can leave your business vulnerable.
THE SCENARIO >
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THE SCENARIO: Computer Virus
The server at a manufacturing plant was infected with a type of malware that allowed cyber criminals to gain access to the plant’s production system, causing a shutdown that lasted for several days. As a result, the manufacturer had to retain a computer forensic expert, incurred costs for repairing and restoring its systems, and suffered revenue loss due to the shutdown.
THE SOLUTION: Cyber Coverage
Travelers Cyber Coverage* can be a crucial safeguard against the devastating financial consequences of such an attack. Travelers offers customized insurance solutions depending on your business’s level of risk, with coverage options available to address forensic investigations, litigation expenses, regulatory defense expenses/fines, crisis management expenses, business interruption, cyber extortion and Betterment.
*Coverage options available through Travelers Bond & Specialty Insurance and Travelers Business Owner’s Policy (BOP).
NEXT RISK: Directors and Officers Exposure >
NEXT RISK: Directors and Officers Exposure >
*Coverage options available through Travelers Bond & Specialty Insurance and Travelers Business Owner’s Policy (BOP).
Travelers Cyber Coverage* can be a crucial safeguard against the devastating financial consequences of such an attack. Travelers offers customized insurance solutions depending on your business’s level of risk, with coverage options available to address forensic investigations, litigation expenses, regulatory defense expenses/fines, crisis management expenses, business interruption, cyber extortion
and Betterment.
THE SOLUTION: Cyber Coverage
The server at a manufacturing plant was infected with a type of malware that allowed cyber criminals to gain access to the plant’s production system, causing a shutdown that lasted for several days.
As a result, the manufacturer had to retain a computer forensic expert, incurred costs for repairing and restoring its systems, and suffered revenue loss due to the shutdown.
THE SCENARIO: Computer Virus
For any organization, one paralyzing data breach is all it takes to impact customer privacy and impede a company’s ability to function. A network glitch,
a lost laptop – or even the act of storing sensitive data at an off-site warehouse – can leave your business vulnerable.
CYBER RISKS
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DIRECTORS
AND OFFICERS EXPOSURE
Privately held organizations and the people who lead them are vulnerable to a multitude of Directors and Officers exposures. To attract and retain qualified executives and board members, it’s crucial to be prepared with the right coverage.
THE SCENARIO >
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THE SCENARIO: Breach of a Noncompete Clause
A manufacturer of parts used by power plants and mining companies allegedly courted and hired a former employee of a competitor, an action that violated the employee’s noncompete agreement. The competitor sued the manufacturer, claiming interference with an employment contract containing a noncompete clause and interference with their business relationships.
THE SOLUTION: Private Directors & Officers Liability (D&O)
Travelers Private Directors & Officers Liability* coverage helps cover defense costs and damages (awards and settlements) when claims are asserted against the company or its directors, officers or employees for actual or alleged wrongful acts. D&O coverage protects company assets and personal assets, as well as mitigates the opportunity costs lost due to lengthy and costly litigation.
*Available through Travelers Bond & Specialty Insurance
NEXT RISK: Employee Fraud >
NEXT RISK: Employee Fraud >
*Available through Travelers Bond & Specialty Insurance
Travelers Private Directors & Officers Liability* coverage helps cover defense costs and damages (awards and settlements) when claims are asserted against the company or its directors, officers or employees for actual or alleged wrongful acts. D&O coverage protects company assets and personal assets, as well as mitigates the opportunity costs lost due to lengthy and costly litigation.
THE SOLUTION: Private Directors & Officers Liability (D&O)
A manufacturer of parts used by power plants and mining companies allegedly courted and hired a former employee of a competitor, an action that violated the employee’s noncompete agreement. The competitor sued the manufacturer, claiming interference with an employment contract containing a noncompete clause and interference with their business relationships.
THE SCENARIO: Breach of a Noncompete Clause
Privately held organizations and the people who lead them are vulnerable to a multitude of Directors and Officers exposures. To attract and retain qualified executives and board members, it’s crucial to be prepared with the right coverage.
DIRECTORS AND OFFICERS EXPOSURE
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Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
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Property Damage
Product Recalls
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Motor Vehicle Accidents
Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
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Employee Fraud
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EMPLOYEE FRAUD
With trusted employees, internal and external oversight, and strong risk management controls, it may seem that a manufacturer is well-equipped to prevent fraud. But when it comes to occupational fraud and abuse, no business is safe. Fraud can happen in any organization at any time.
THE SCENARIO >
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THE SCENARIO: Inventory Losses
An employee, who had been recognized as an employee of the year numerous times in his 17-year career at the company, ordered additional inventory for alleged seasonal sales pushes. Unbeknownst to company leaders, he then sold a portion of that inventory on the side, which led to excessive monetary loss for the company.
THE SOLUTION: Fidelity & Crime
Employee dishonesty is costly and pervasive, and no company is fully immune to criminal activity from within. Travelers Fidelity & Crime* coverage helps protect businesses against the devastating financial loss caused by employee theft and forgery.
*Available through Travelers Bond & Specialty Insurance
NEXT RISK: Employee Injuries >
*Available through Travelers Bond & Specialty Insurance
Employee dishonesty is costly and pervasive, and no company is fully immune to criminal activity from within. Travelers Fidelity & Crime* coverage helps protect businesses against the devastating financial loss caused by employee theft and forgery.
THE SOLUTION: Fidelity & Crime
An employee, who had been recognized as an employee of the year numerous times in his 17-year career at the company, ordered additional inventory for alleged seasonal sales pushes. Unbeknownst to company leaders, he then sold a portion of that inventory on the side, which led to excessive monetary loss for the company.
THE SCENARIO: Inventory Losses
With trusted employees, internal and external oversight, and strong risk management controls, it may seem that a manufacturer is well-equipped to prevent fraud. But when it comes to occupational fraud and abuse, no business is safe. Fraud can happen in any organization at any time.
EMPLOYEE
FRAUD
NEXT RISK: Employee Injuries >
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Third-Party Financial Loss
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Property Damage
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Large Losses
Global Exposures
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Directors and Officers Exposure
Cyber Risks
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Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
Suspended Operations
Supply Chain Interruptions
Property Damage
Product Recalls
Product Failures
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Motor Vehicle Accidents
Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
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EMPLOYEE
INJURIES
With nearly all machinery and equipment posing numerous hazards, injury prevention remains a top concern for manufacturers. Safety training and protocols can go far in reducing incidences, yet accidents and injuries can still happen.
THE SCENARIO >
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Global Exposures
Evolving Workforce Dynamics
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Directors and Officers Exposure
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THE SCENARIO: An At-Work Injury
A furniture manufacturer specializing in solid wood kitchen tables expands its product offering to include coffee tables. As an employee prepares to carve shorter table legs, the cylindrical machine – set to a longer length – unexpectedly turns on, causing a significant injury.
THE SOLUTION: Workers Compensation
When manufacturing operations result in workplace injuries, many businesses turn to Travelers – the No. 1 writer of Workers Compensation* policies in the U.S.** We provide coverage and local services that help injured employees return to work as soon as medically appropriate, including MyTravelers® for Injured Employees and ConciergeCLAIM® Nurse. To aid in workplace safety, we provide tools and resources like the Workforce Pressure Test, as well as services through our nationally accredited Industrial Hygiene Lab to help identify and reduce workplace exposures.
*Nearly all states require businesses to carry workers compensation insurance. Travelers Workers Compensation is available to small, midsized and large manufacturers.
**2019, National Association of Insurance Commissioners (NAIC) Property/Casualty Market Share report
NEXT RISK: Employment Practices >
NEXT RISK: Employment Practices >
**2019, National Association of Insurance Commissioners (NAIC) Property/Casualty Market Share report
When manufacturing operations result in workplace injuries, many businesses turn to Travelers – the
No. 1 writer of Workers Compensation* policies in the U.S.** We provide coverage and local services that help injured employees return to work as soon as medically appropriate, including MyTravelers® for Injured Employees and ConciergeCLAIM® Nurse. To aid in workplace safety, we provide tools and resources like the Workforce Pressure Test, as well as services through our nationally accredited Industrial Hygiene Lab to help identify and reduce workplace exposures.
THE SOLUTION: Workers Compensation
A furniture manufacturer specializing in solid wood kitchen tables expands its product offering to include coffee tables. As an employee prepares to carve shorter table legs, the cylindrical machine – set to a longer length – unexpectedly turns on, causing a significant injury.
THE SCENARIO: An At-Work Injury
With nearly all machinery and equipment posing numerous hazards, injury prevention remains a top concern for manufacturers. Safety training and protocols can go far in reducing incidences, yet accidents and injuries can still happen.
EMPLOYEE
INJURIES
*Nearly all states require businesses to carry workers compensation insurance. Travelers Workers Compensation is available to small, midsized and large manufacturers.
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EMPLOYMENT PRACTICES
With workforce dynamics continually changing, employment-related claims impact manufacturing companies of every size. Claims can disrupt businesses, hurt employee morale, damage reputations and cost businesses financially ... even before going to court.
THE SCENARIO >
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THE SCENARIO: Age Discrimination
A long-term employee is informed they are being promoted. Prior to transitioning into the new role, their manager resigns. The new manager refuses to promote the employee, hiring a younger staff member instead. The employee secures legal counsel and demands a large settlement for age discrimination.
THE SOLUTION: Employment Practices Liability
While it’s not always easy to anticipate what can trigger an employment claim, it’s important to have the right protection in place. Whether brought by an employee or a government regulator, an employment-related claim can cost a business financially and operationally. Travelers Employment Practices Liability* coverage can provide your business with financial protection for defense and covered settlements, a dedicated claim professional and a local outside attorney.
*Coverage options available through Travelers Bond & Specialty Insurance and Travelers Business Owner’s Policy (BOP).
NEXT RISK: Environmental Accidents >
NEXT RISK: Environmental Accidents >
*Coverage options available through Travelers Bond & Specialty Insurance and Travelers Business Owner’s Policy (BOP).
While it’s not always easy to anticipate what can trigger an employment claim, it’s important to have the right protection in place. Whether brought by an employee or a government regulator, an employment-related claim can cost a business financially and operationally. Travelers Employment Practices Liability* coverage can provide your business with financial protection for defense and covered settlements, a dedicated claim professional and a local outside attorney.
THE SOLUTION: Employment Practices Liability
A long-term employee is informed they are being promoted. Prior to transitioning into the new role, their manager resigns. The new manager refuses to promote the employee, hiring a younger staff member instead. The employee secures legal counsel and demands a large settlement for
age discrimination.
THE SCENARIO: Age Discrimination
With workforce dynamics continually changing, employment-related claims impact manufacturing companies of every size. Claims can disrupt businesses, hurt employee morale, damage reputations and cost businesses financially ... even before going to court.
EMPLOYMENT PRACTICES
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Third-Party Financial Loss
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Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
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Employment Practices
Employee Injuries
Employee Fraud
Directors and Officers Exposure
Cyber Risks
Cargo in Transit
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Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
Suspended Operations
Supply Chain Interruptions
Property Damage
Product Recalls
Product Failures
Ocean Cargo
Motor Vehicle Accidents
Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
Environmental Accidents
Employment Practices
Employee Injuries
Employee Fraud
Directors and Officers Exposure
Cyber Risks
Cargo in Transit
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ENVIRONMENTAL ACCIDENTS
Environmental accidents can pose serious and unexpected challenges for your community, workforce and business.
THE SCENARIO >
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Global Exposures
Evolving Workforce Dynamics
Equipment Failures
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Employment Practices
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THE SCENARIO: A Ruptured Tank
A manufacturer with established safety protocols encounters significant unexpected pollution clean-up and litigation costs after an above-ground chemical tank ruptures and releases its contents, some of which flows into a nearby river.
THE SOLUTION: Environmental Liability
Many of our customers with environmental exposures rely on Travelers Site Pollution Liability* insurance. It can cover third-party bodily injury, property damage, pollution clean-up costs and defense costs. Additionally, our Risk Control consultants can help reduce risks through recommended loss prevention solutions based on Travelers Risk Assessments they can help conduct.
*Currently not available to our small business customers
NEXT RISK: Equipment Failures >
NEXT RISK: Equipment Failures >
*Currently not available to our small business customers
Many of our customers with environmental exposures rely on Travelers Site Pollution Liability* insurance. It can cover third-party bodily injury, property damage, pollution clean-up costs and defense costs. Additionally, our Risk Control consultants can help reduce risks through recommended loss prevention solutions based on Travelers Risk Assessments they can help conduct.
THE SOLUTION: Environmental Liability
A manufacturer with established safety protocols encounters significant unexpected pollution clean-up and litigation costs after an above-ground chemical tank ruptures and releases its contents, some of which flows into a nearby river.
THE SCENARIO: A Ruptured Tank
Environmental accidents can pose serious and unexpected challenges for your community, workforce and business.
ENVIRONMENTAL ACCIDENTS
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Third-Party Financial Loss
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Global Exposures
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Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
Suspended Operations
Supply Chain Interruptions
Property Damage
Product Recalls
Product Failures
Ocean Cargo
Motor Vehicle Accidents
Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
Environmental Accidents
Employment Practices
Employee Injuries
Employee Fraud
Directors and Officers Exposure
Cyber Risks
Cargo in Transit
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EQUIPMENT
FAILURES
Even with predictive and preventive maintenance strategies in place, machinery and equipment can break down. When they do, it can cause bottlenecks that impact your production schedule and place your business operations in jeopardy.
THE SCENARIO >
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Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
Environmental Accidents
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Employee Injuries
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Directors and Officers Exposure
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THE SCENARIO: An Unexpected Power Surge
While fulfilling an order for components used in surgical staplers, a power surge damages the computer control system of a manufacturer’s metal stamping press, halting operations for nearly a week.
THE SOLUTION: Equipment Breakdown
Travelers Equipment Breakdown* insurance can provide a wide variety of coverages to help address your equipment breakdown exposures. From mechanical to electrical arcing breakdowns, our goal is to help protect and prevent failures. We help accomplish this through our in-house Risk Control consultants who have deep manufacturing expertise, our certified analytical laboratory and our essential inspection services.
*This coverage can be added to a Travelers Business Owner’s Policy (BOP).
NEXT RISK: Evolving Workforce Dynamics >
NEXT RISK: Evolving Workforce Dynamics >
*This coverage can be added to a Travelers Business Owner’s Policy (BOP).
Travelers Equipment Breakdown* insurance can provide a wide variety of coverages to help address your equipment breakdown exposures. From mechanical to electrical arcing breakdowns, our goal is to help protect and prevent failures.
We help accomplish this through our in-house Risk Control consultants who have deep manufacturing expertise, our certified analytical laboratory and our essential inspection services.
THE SOLUTION: Equipment Breakdown
While fulfilling an order for components used in surgical staplers, a power surge damages the computer control system of a manufacturer’s metal stamping press, halting operations for nearly a week.
THE SCENARIO: An Unexpected Power Surge
Even with predictive and preventive maintenance strategies in place, machinery and equipment can break down. When they do, it can cause bottlenecks that impact your production schedule and place your business operations in jeopardy.
EQUIPMENT FAILURES
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Large Losses
Global Exposures
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Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
Suspended Operations
Supply Chain Interruptions
Property Damage
Product Recalls
Product Failures
Ocean Cargo
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Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
Environmental Accidents
Employment Practices
Employee Injuries
Employee Fraud
Directors and Officers Exposure
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Cargo in Transit
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EVOLVING WORKFORCE DYNAMICS
Attracting and retaining employees coincides with maintaining effective strategies around their safety, health and engagement.
THE SCENARIO >
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Third-Party Financial Loss
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Global Exposures
Evolving Workforce Dynamics
Equipment Failures
Environmental Accidents
Employment Practices
Employee Injuries
Employee Fraud
Directors and Officers Exposure
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THE SCENARIO: Safety in the Workplace
Despite having strict safety measures in place, a metal fabricator’s new employee sustains a serious hand injury after failing to put proper gloves on prior to handling a razor-sharp metal sheet. The employee’s return to work is further delayed when an infection results.
THE SOLUTION: Travelers Workforce Advantage®
Travelers Workforce Advantage is an approach to managing workers compensation that can help strengthen your culture of workplace safety. Under this program, you can address workers’ safety and health more broadly from three stages in the employment cycle: attracting and hiring candidates, onboarding and training and supporting and engaging employees.
NEXT RISK: Global Exposures >
NEXT RISK: Global Exposures >
Travelers Workforce Advantage is an approach
to managing workers compensation that can
help strengthen your culture of workplace safety. Under this program, you can address workers’ safety and health more broadly from three stages
in the employment cycle: attracting and hiring candidates, onboarding and training and supporting and engaging employees.
THE SOLUTION: Travelers Workforce Advantage®
Despite having strict safety measures in place,
a metal fabricator’s new employee sustains a serious hand injury after failing to put proper
gloves on prior to handling a razor-sharp metal sheet. The employee’s return to work is further delayed when an infection results.
THE SCENARIO: Safety in the Workplace
Attracting and retaining employees coincides with maintaining effective strategies around their safety, health and engagement.
EVOLVING WORKFORCE DYNAMICS
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Third-Party Fin. Loss – Tech Co.
Third-Party Financial Loss
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GLOBAL EXPOSURES
Whether contracting out part of a manufacturing process, exporting goods or sending an employee overseas to a conference, most manufacturers today need protection from losses that could arise when doing business globally.
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THE SCENARIO: An International Lawsuit
A Malaysian manufacturer of electronic equipment that includes a defective temperature sensor made by a U.S. manufacturer causes damage to a third party’s property in Malaysia. The third party files a lawsuit in Malaysia against the U.S. company.
THE SOLUTION: Global Companion℠ Plus+
Travelers helps simplify international insurance. Our Global Companion℠ Plus+* Commercial General Liability insurance covers defense costs and provides indemnification for product liability claims and suits for covered bodily injury or property damage that are made or brought against your company outside the U.S., Puerto Rico and Canada. Coverage can also be provided for employees who become injured or sick overseas through our Global Companion Foreign Voluntary Workers Compensation and Business Travel Accidental Death and Dismemberment policies.
*Travelers small business customers who periodically travel overseas have the option to add World Business Essentials® as an endorsement to a Business Owner’s Policy (BOP) or consider Global Companion for more robust coverage.
NEXT RISK: Large Losses >
NEXT RISK: Large Losses >
*Travelers small business customers who periodically travel overseas have the option to add World Business Essentials® as an endorsement to a Business Owner’s Policy (BOP) or consider Global Companion for more robust coverage.
Travelers helps simplify international insurance. Our Global Companion℠ Plus+* Commercial General Liability insurance covers defense costs and provides indemnification for product liability claims and suits for covered bodily injury or property damage that are made or brought against your company outside the U.S., Puerto Rico and Canada. Coverage can also be provided for employees who become injured or sick overseas through our Global Companion Foreign Voluntary Workers Compensation and Business Travel Accidental Death and Dismemberment policies.
THE SOLUTION: Global Companion℠ Plus+
A Malaysian manufacturer of electronic equipment that includes a defective temperature sensor made by a U.S. manufacturer causes damage to a third party’s property in Malaysia. The third party files a lawsuit in Malaysia against the U.S. company.
THE SCENARIO: An International Lawsuit
Whether contracting out part of a manufacturing process, exporting goods or sending an employee overseas to a conference, most manufacturers today need protection from losses that could arise when doing business globally.
GLOBAL EXPOSURES
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Third-Party Financial Loss
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LARGE LOSSES
Lawsuits related to issues such as product liability, breach of contract and vehicle accidents continue to occur with greater frequency – and jury awards continue to increase. Additional insurance protection can be a crucial safety net for your manufacturing business.
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THE SCENARIO: A Slippery Slope
An employee of an electronic components manufacturer drives the company’s van to deliver the components for shipment. When mid-morning snow leads to poor road conditions, the van loses traction as the employee approaches a stop sign, causing him to collide with an oncoming car. Both drivers suffer significant injuries.
THE SOLUTION: Umbrella and Excess Casualty
A large-scale loss doesn’t have to derail your company’s growth. Even though legal settlements and judgments resulting from lawsuits can surpass the limits of your primary insurance policies, Travelers Umbrella and Excess Casualty coverage, available to businesses of all sizes, provides an extra layer of protection above the limits of your primary policy, helping to limit your exposure and provide protection from large claims.
NEXT RISK: Motor Vehicle Accidents >
NEXT RISK: Motor Vehicle Accidents >
A large-scale loss doesn’t have to derail your company’s growth. Even though legal settlements and judgments resulting from lawsuits can surpass the limits of your primary insurance policies, Travelers Umbrella and Excess Casualty coverage, available to businesses of all sizes, provides an extra layer of protection above the limits of your primary policy, helping to limit your exposure and provide protection from large claims.
THE SOLUTION: Umbrella and Excess Casualty
An employee of an electronic components manufacturer drives the company’s van to deliver the components for shipment. When mid-morning snow leads to poor road conditions, the van loses traction as the employee approaches a stop sign, causing him to collide with an oncoming car. Both drivers suffer significant injuries.
THE SCENARIO: A Slippery Slope
Lawsuits related to issues such as product liability, breach of contract and vehicle accidents continue to occur with greater frequency – and jury awards continue to increase. Additional insurance protection can be a crucial safety net for your manufacturing business.
LARGE LOSSES
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Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
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MOTOR VEHICLE ACCIDENTS
Vehicle accidents involving employees can be among the costliest of injury claims for your company. With accidents on the rise due to risks like distracted driving, proper coverage is more critical than ever before.
THE SCENARIO >
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THE SCENARIO: Running Late
A manufacturer’s employee uses a company-owned vehicle to drive to a customer’s location for an equipment repair. The employee attempts to navigate through an intersection ahead of a yellow light turning red but doesn’t beat cross traffic, causing a multi-vehicle accident with numerous injuries that results in litigation against the manufacturer.
THE SOLUTION: Commercial Auto
Anyone who drives a vehicle on behalf of your company, whether it’s owned or rented by your company or is a personal vehicle, could create liability for your company if they cause an auto accident. A Travelers Commercial Auto* policy can protect your business from litigation cost and damages payments resulting from auto accidents. It provides liability coverage for vehicles you and your employees use for business, and physical damage coverage for vehicles you own, rent or lease.
*For small businesses, Commercial Auto Insurance can be purchased separately from a Travelers Business Owner’s Policy (BOP)
NEXT RISK: Ocean Cargo >
NEXT RISK: Ocean Cargo >
*For small businesses, Commercial Auto Insurance can be purchased separately from a Travelers Business Owner’s Policy (BOP)
Anyone who drives a vehicle on behalf of your company, whether it’s owned or rented by your company or is a personal vehicle, could create liability for your company if they cause an auto accident. A Travelers Commercial Auto* policy can protect your business from litigation cost and damages payments resulting from auto accidents.
It provides liability coverage for vehicles you and your employees use for business, and physical damage coverage for vehicles you own, rent or lease.
THE SOLUTION: Commercial Auto
A manufacturer’s employee uses a company-owned vehicle to drive to a customer’s location for an equipment repair. The employee attempts to navigate through an intersection ahead of a
yellow light turning red but doesn’t beat cross
traffic, causing a multi-vehicle accident with numerous injuries that results in litigation
against the manufacturer.
THE SCENARIO: Running Late
Vehicle accidents involving employees can be among the costliest of injury claims for your company. With accidents on the rise due to risks like distracted driving, proper coverage is more critical than ever before.
MOTOR
VEHICLE ACCIDENTS
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Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
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OCEAN CARGO
Importing and exporting your goods comes with a unique set of risks. With thousands of ships traveling across U.S. and international waters daily, cargo facing the open seas can be lost in a storm, damaged or stolen. Often, a shipping operator’s liability doesn’t fully protect it.
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THE SCENARIO: Damaged Shipment
A plastic injection molding manufacturer sources medical-grade plastic from overseas for use in its manufacturing processes. When the shipment arrives, it’s discovered that the plastic is contaminated due to damaged containers.
THE SOLUTION: Ocean Marine
Travelers Ocean Marine Cargo Elite®* insurance can offer coverage for damaged and missing merchandise, even if the loss is discovered up to 60 days after arrival. Unlike other policy forms, ours offers broad coverage that can be tailored to your company’s individual needs. We also offer custom cargo coverage and an extensive network of correspondents allocated to handle overseas cargo claims.
*Subject to certain exclusions and limitations
NEXT RISK: Product Failures >
NEXT RISK: Product Failures >
*Subject to certain exclusions and limitations
Travelers Ocean Marine Cargo Elite®* insurance can offer coverage for damaged and missing merchandise, even if the loss is discovered up to 60 days after arrival. Unlike other policy forms, ours offers broad coverage that can be tailored to your company’s individual needs. We also offer custom cargo coverage and an extensive network of correspondents allocated to handle overseas cargo claims.
THE SOLUTION: Ocean Marine
A plastic injection molding manufacturer sources medical-grade plastic from overseas for use in its manufacturing processes. When the shipment arrives, it’s discovered that the plastic is contaminated due to damaged containers.
THE SCENARIO: Damaged Shipment
Importing and exporting your goods comes with a unique set of risks. With thousands of ships traveling across U.S. and international waters daily, cargo facing the open seas can be lost in a storm, damaged or stolen. Often, a shipping operator’s liability doesn’t fully protect it.
OCEAN CARGO
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Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
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PRODUCT FAILURES
An unsafe or defective product not only places your finances in jeopardy, it can also harm your brand and reputation. Whether it’s a design, manufacturing or marketing defect, your business can be shielded from operational risks that can threaten your success.
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THE SCENARIO: A Defective Control System
A furniture manufacturer produces recliners with electronic control systems. A defect results in the systems catching fire, leading to the filing of multiple lawsuits against the manufacturer.
THE SOLUTION: General Liability (GL)
Travelers’ customizable General Liability* coverage can protect your company from general risks that can arise from business operations, including bodily injury, property damage, personal injury and more. Commonly requested GL coverage extensions are easy to add and tailored to your industry.
*The broad protection of a Travelers Business Owner’s Policy (BOP) for small businesses includes GL coverage.
NEXT RISK: Product Recalls >
NEXT RISK: Product Recalls >
*The broad protection of a Travelers Business Owner’s Policy (BOP) for small businesses includes GL coverage.
Travelers’ customizable General Liability* coverage can protect your company from general risks that can arise from business operations, including bodily injury, property damage, personal injury and more. Commonly requested GL coverage extensions are easy to add and tailored to your industry.
THE SOLUTION: General Liability (GL)
A furniture manufacturer produces recliners with electronic control systems. A defect results in the systems catching fire, leading to the filing of multiple lawsuits against the manufacturer.
THE SCENARIO: A Defective Control System
An unsafe or defective product not only places your finances in jeopardy, it can also harm your brand and reputation. Whether it’s a design, manufacturing or marketing defect, your business can be shielded from operational risks that can threaten your success.
PRODUCT
FAILURES
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Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
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Global Exposures
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PRODUCT RECALLS
If a product you manufacture is recalled, expenses that you incur to transport, store, inspect and dispose of the recalled products can be significant. Along with preventative policies and procedures in place, it can be critical to protect your business with coverage designed to address product recalls.
THE SCENARIO >
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Third-Party Fin. Loss – Tech Co.
Third-Party Financial Loss
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THE SCENARIO: Product Recall
A manufacturer of granola bars discovers that a batch containing peanuts is mislabeled and excludes the potential allergen in its list of ingredients. The company issues a product recall to prevent the bars from potentially causing consumers to suffer allergic reactions.
THE SOLUTION: Product Recall Expense
Increasingly stronger consumer protection regulations can make product recalls even more frequent. Product Recall Expense* coverage broadens your Travelers General Liability coverage. It can help cover expenses associated with removing your defective products from the marketplace, which can prevent or mitigate potential liability.
*Currently not available to our small business customers
NEXT RISK: Property Damage >
NEXT RISK: Property Damage >
*Currently not available to our small business customers
Increasingly stronger consumer protection regulations can make product recalls even more frequent. Product Recall Expense* coverage broadens your Travelers General Liability coverage. It can help cover expenses associated with removing your defective products from the marketplace, which can prevent or mitigate potential liability.
THE SOLUTION: Product Recall Expense
A manufacturer of granola bars discovers that a batch containing peanuts is mislabeled and excludes the potential allergen in its list of ingredients. The company issues a product recall to prevent the bars from potentially causing consumers to suffer allergic reactions.
THE SCENARIO: Product Recall
If a product you manufacture is recalled, expenses that you incur to transport, store, inspect and dispose of the recalled products can be significant. Along with preventative policies and procedures in place, it can be critical to protect your business with coverage designed to address product recalls.
PRODUCT
RECALLS
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Third-Party Fin. Loss – Tech Co.
Third-Party Financial Loss
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Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
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Property Damage
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PROPERTY DAMAGE
When it comes to insuring your commercial property, every manufacturer has unique needs. From protecting your facilities in the U.S. and around the world to safeguarding your tools and machinery, your property coverage should be broad and customizable.
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Third-Party Fin. Loss – Tech Co.
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THE SCENARIO: Substation Fire
A metals manufacturing company opens a second plant located near an electrical substation. When an overnight fire breaks out at the substation, the manufacturer suffers equipment losses and plant damage, bringing operations to a standstill.
THE SOLUTION: Commercial Property
Travelers Commercial Property* coverage helps protect the business property you own, lease or rent, including assets like your buildings, equipment, furniture, fixtures and inventory. In our policy, coverage for tools, molds, patterns and dies is included in the definition of Business Personal Property (BPP). We offer coverage for the reduction value of undamaged parts of stock in process. Our Manufacturer’s Selling Price valuation of stock can help protect you from lost profits if damage to finished goods occurs.
*The broad protection of a Travelers Business Owner’s Policy for small businesses includes Commercial Property insurance.
NEXT RISK: Supply Chain Interruptions >
NEXT RISK: Supply Chain Interruptions >
*The broad protection of a Travelers Business Owner’s Policy for small businesses includes Commercial Property insurance.
Travelers Commercial Property* coverage helps protect the business property you own, lease or rent, including assets like your buildings, equipment, furniture, fixtures and inventory. In our policy, coverage for tools, molds, patterns and dies is included in the definition of Business Personal Property (BPP). We offer coverage for the reduction value of undamaged parts of stock in process.
Our Manufacturer’s Selling Price valuation of stock can help protect you from lost profits if damage to finished goods occurs.
THE SOLUTION: Commercial Property
A metals manufacturing company opens a second plant located near an electrical substation. When an overnight fire breaks out at the substation, the manufacturer suffers equipment losses and plant damage, bringing operations to a standstill.
THE SCENARIO: Substation Fire
When it comes to insuring your commercial property, every manufacturer has unique needs. From protecting your facilities in the U.S. and around the world to safeguarding your tools and machinery, your property coverage should be broad and customizable.
PROPERTY
DAMAGE
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Third-Party Fin. Loss – Tech Co.
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Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
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Property Damage
Product Recalls
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Global Exposures
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SUPPLY CHAIN INTERRUPTIONS
Today’s just-in-time supply chains are vulnerable to disruptions. Assessing risks can help you better manage your ability to withstand any interruptions to your supply requirements.
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THE SCENARIO: Supply Chain Disruption
A manufacturer receives most of its raw materials from a single supplier. A fire damages the supplier’s plant, creating a temporary situation where they are unable to provide materials. Without a steady supply of these raw materials, the manufacturer is unable to fulfill all of its customers’ orders – and revenues decline.
THE SOLUTION: Commercial Property
Travelers business insurance products, including our Commercial Property* coverage, can take on some of the covered risks you incur when your business depends on your supply chain – whether it’s a natural catastrophe or other unplanned event that causes direct physical loss or damage at the supplier’s location.
*The broad protection of a Travelers Business Owner’s Policy for small businesses includes Commercial Property insurance.
NEXT RISK: Suspended Operations >
NEXT RISK: Suspended Operations >
*The broad protection of a Travelers Business Owner’s Policy for small businesses includes Commercial Property insurance.
Travelers business insurance products, including our Commercial Property* coverage, can take on some of the covered risks you incur when your business depends on your supply chain – whether it’s a natural catastrophe or other unplanned event that causes direct physical loss or damage at the supplier’s location.
THE SOLUTION: Commercial Property
A manufacturer receives most of its raw materials from a single supplier. A fire damages the supplier’s plant, creating a temporary situation where they are unable to provide materials. Without a steady supply of these raw materials, the manufacturer is unable to fulfill all of its customers’ orders – and revenues decline.
THE SCENARIO: Supply Chain Disruption
Today’s just-in-time supply chains are vulnerable to disruptions. Assessing risks can help you better manage your ability to withstand any interruptions to your supply requirements.
SUPPLY CHAIN INTERRUPTIONS
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Global Exposures
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Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
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Global Exposures
Evolving Workforce Dynamics
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SUSPENDED OPERATIONS
If your operations are suspended due to physical damage to your property from a fire or other covered loss, it can take time for your business to recover. Lost business income and other covered expenses, up to certain amounts, can be replaced while you get back up and running.
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Third-Party Fin. Loss – Tech Co.
Third-Party Financial Loss
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Global Exposures
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THE SCENARIO: Fire Interrupts Operations
A fire causes extensive damage to an electronics manufacturer. Operations will be impaired for months, resulting in lost production and sales.
THE SOLUTION: Business Income and Extra Expense (BIEE)
If a covered cause of loss such as a fire occurs and your business is shut down, you may still have ongoing expenses like payroll, rent, taxes and other bills. You may also lose revenue during the time you are unable to operate. Travelers Business Income and Extra Expense coverage can help replace covered expenses and business income while you work to resume operations.
NEXT RISK: Third-Party Financial Loss >
NEXT RISK: Third-Party Financial Loss >
If a covered cause of loss such as a fire occurs and your business is shut down, you may still have ongoing expenses like payroll, rent, taxes and other bills. You may also lose revenue during the time you are unable to operate. Travelers Business Income and Extra Expense coverage can help replace covered expenses and business income while you work to resume operations.
THE SOLUTION: Business Income and Extra Expense (BIEE)
A fire causes extensive damage to an electronics manufacturer. Operations will be impaired for months, resulting in lost production and sales.
THE SCENARIO: Fire Interrupts Operations
If your operations are suspended due to physical damage to your property from a fire or other covered loss, it can take time for your business to recover. Lost business income and other covered expenses, up to certain amounts, can be replaced while you get back up and running.
SUSPENDED OPERATIONS
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Third-Party Financial Loss
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Global Exposures
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Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
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Property Damage
Product Recalls
Product Failures
Ocean Cargo
Motor Vehicle Accidents
Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
Environmental Accidents
Employment Practices
Employee Injuries
Employee Fraud
Directors and Officers Exposure
Cyber Risks
Cargo in Transit
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THIRD-PARTY FINANCIAL LOSS
When a manufacturing mistake occurs, your business could be pursued by your customers for their financial losses due to your error. It’s vital to have coverage that goes beyond what your general liability policy might provide.
THE SCENARIO >
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Third-Party Fin. Loss – Tech Co.
Third-Party Financial Loss
Suspended Operations
Supply Chain Interruptions
Property Damage
Product Recalls
Product Failures
Ocean Cargo
Motor Vehicle Accidents
Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
Environmental Accidents
Employment Practices
Employee Injuries
Employee Fraud
Directors and Officers Exposure
Cyber Risks
Cargo in Transit
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Close
THE SCENARIO: Faulty Parts
A manufacturer produces trigger valves for its customer’s pneumatic nail guns. Because of a design error, the valves are defectively manufactured outside of the agreed-upon specs. The customer loses an important contract and seeks recovery of lost profits, as well as damages for loss of business reputation.
THE SOLUTION: Manufacturers Errors and Omissions (E&O)
Travelers Manufacturers E&O* is a type of professional liability insurance that can help protect manufacturers from financial harm caused by product defects or work. This differs from general liability insurance, which protects a business in the event of bodily injury or property damage, but doesn’t offer protection if a customer chooses to pursue your company for its financial loss only (lost profits, business interruption loss or contract damages).
*Travelers Manufacturers E&O is available for midsized and large businesses.
NEXT RISK: Third-Party Financial Loss – Tech Co. >
NEXT RISK: Third-Party Financial Loss – Tech Co. >
*Travelers Manufacturers E&O is available for large and midsized businesses.
Travelers Manufacturers E&O* is a type of professional liability insurance that can help protect manufacturers from financial harm caused by product defects or work. This differs from general liability insurance, which protects a business in the event of bodily injury or property damage, but doesn’t offer protection if a customer chooses to pursue your company for its financial loss only (lost profits, business interruption loss or contract damages).
THE SOLUTION: Manufacturers Errors and Omissions (E&O)
A manufacturer produces trigger valves for its customer’s pneumatic nail guns. Because of a design error, the valves are defectively manufactured outside of the agreed-upon specs. The customer loses an important contract and seeks recovery of lost profits, as well as damages for loss of business reputation.
THE SCENARIO: Faulty Parts
When a manufacturing mistake occurs, your business could be pursued by your customers for their financial losses due to your error. It’s vital to have coverage that goes beyond what your general liability policy might provide.
THIRD-PARTY FINANCIAL LOSS
< BACK
MENU
Third-Party Fin. Loss – Tech Co.
Third-Party Financial Loss
Suspended Operations
Supply Chain Interruptions
Property Damage
Product Recalls
Product Failures
Ocean Cargo
Motor Vehicle Accidents
Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
Environmental Accidents
Employment Practices
Employee Injuries
Employee Fraud
Directors and Officers Exposure
Cyber Risks
Cargo in Transit
Start
Close
MENU
Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
Suspended Operations
Supply Chain Interruptions
Property Damage
Product Recalls
Product Failures
Ocean Cargo
Motor Vehicle Accidents
Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
Environmental Accidents
Employment Practices
Employee Injuries
Employee Fraud
Directors and Officers Exposure
Cyber Risks
Cargo in Transit
Start
Close
THIRD-PARTY FINANCIAL LOSS – TECH CO.
Technology manufacturers take bold steps every day to stay competitive. When your reputation and bottom line are compromised due to products or services failing to meet customer expectations, there is a solution that can help.
THE SCENARIO >
MENU
Third-Party Fin. Loss – Tech Co.
Third-Party Financial Loss
Suspended Operations
Supply Chain Interruptions
Property Damage
Product Recalls
Product Failures
Ocean Cargo
Motor Vehicle Accidents
Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
Environmental Accidents
Employment Practices
Employee Injuries
Employee Fraud
Directors and Officers Exposure
Cyber Risks
Cargo in Transit
Start
Close
THE SCENARIO: An Error in Schematics
A manufacturer designs a radio unit that is integrated into a wireless telephone system. Due to a schematics error, contractors incorrectly install a capacitor into the unit, causing failures to occur. Thousands of units are installed by the time the problem is discovered. The manufacturer’s client asserts a claim seeking to recover damages resulting from the failures.
THE SOLUTION: Technology Errors and Omissions (E&O)
Travelers Technology E&O* coverage protects against damages your company might have to pay because of financial loss arising out of your products or your work due to an error, omission or negligent act. It can cover defense costs, settlements or judgments, and includes support from our experienced attorneys.
*Travelers Technology E&O is available for midsized and large businesses.
CONCLUSION >
CONCLUSION >
*Travelers Technology E&O is available for midsized and large businesses.
Travelers Technology E&O* coverage protects against damages your company might have to pay because of financial loss arising out of your products or your work due to an error, omission or negligent act. It can cover defense costs, settlements or judgments, and includes support from our experienced attorneys.
THE SOLUTION: Technology Errors and Omissions (E&O)
A manufacturer designs a radio unit that is integrated into a wireless telephone system. Due to a schematics error, contractors incorrectly install a capacitor into the unit, causing failures to occur. Thousands of units are installed by the time the problem is discovered. The manufacturer’s client asserts a claim seeking to recover damages resulting from the failures.
THE SCENARIO: An Error in Schematics
Technology manufacturers take bold steps every day to stay competitive. When your reputation and bottom line are compromised due to products or services failing to meet customer expectations, there is a solution that can help.
THIRD-PARTY FINANCIAL LOSS – TECH CO.
< BACK
MENU
Third-Party Fin. Loss – Tech Co.
Third-Party Financial Loss
Suspended Operations
Supply Chain Interruptions
Property Damage
Product Recalls
Product Failures
Ocean Cargo
Motor Vehicle Accidents
Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
Environmental Accidents
Employment Practices
Employee Injuries
Employee Fraud
Directors and Officers Exposure
Cyber Risks
Cargo in Transit
Start
Close
MENU
Third-Party Financial Loss – Tech Co.
Third-Party Financial Loss
Suspended Operations
Supply Chain Interruptions
Property Damage
Product Recalls
Product Failures
Ocean Cargo
Motor Vehicle Accidents
Large Losses
Global Exposures
Evolving Workforce Dynamics
Equipment Failures
Environmental Accidents
Employment Practices
Employee Injuries
Employee Fraud
Directors and Officers Exposure
Cyber Risks
Cargo in Transit
Start
Close
Looking for more information about how Travelers can help protect your industry from risks seen and unseen?
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LEARN MORE
Looking for more information about how Travelers can help protect your industry from risks seen and unseen?
