Regardless of the segment, technology is increasingly present in industrial operations. While facilitating and optimizing production, machinery and technological equipment also need to be adequately protected. Therefore, having different types of insurance is essential to avoid possible losses and ensure the continuity of any company operating in the industrial sector.
Why rely on insurance for the industry?
Essential for the protection of any company’s business, insurance seeks to prevent problems for the insured, avoiding possible losses for the company. In the case of industries, it is important to have coverage for different types of risks , such as theft, theft, fire, damage to third parties, problems with machines and equipment , cybernetic invasions, among others.
Industry 4.0 and the insurance sector
In general, Industry 4.0 comes to reformulate processes and bring greater technology and practicality, providing industrial operations with a more modern, safe and automated production. This automation within the industries is something that has been happening and opening space for the redirection of employees in new functions, leaving the “heavier” work for the machines.
Even following common safety rules and procedures, in addition to the technical training of employees, it is still extremely important to take out insurance to protect all industrial equipment and the company’s own assets, with the aim of mitigating risks.
What are the main risks for the industry?
In any industrial activity, there are several types of risk to which the owner and the employees themselves must be aware. See some examples:
In general, industrial activities are carried out in large spaces, sometimes in places further away from the city and which are subject to theft, from invasions to small thefts.
Even with all protective measures, the risk of a fire always exists, especially in an industry that works with flammable products.
A work accident during operation can cause injuries to the employees themselves and also to third parties, such as external service providers.
Whether due to human or technological failure, the damage of industrial equipment can even paralyze the company’s production, causing great losses.
With the increasing use of technology in the industry and a lot of IoT (Internet of Things) equipment, cyber intrusions become a real risk to operations.
What are the main insurances for the industry?
A world reference in large industrial risks, there are several types of insurance aimed at different types of industries, offering protection for different risks.
Check out some of solutions for industries:
General Civil Liability Insurance
General civil liability insurance was designed to meet different types of industry, the insurance offers coverage for various losses and damages to third parties that a company is subject to, from basic modalities to combined policies that cover the universe of corporate action.
Contaminated Products Insurance
When we talk about the food and beverage industry, the risk of contamination is one of the biggest concerns.
Contaminated Products insurance guarantees the payment* of the company’s own direct losses, related to food and beverage contamination, helping its customers to control the effects generated by the withdrawal of products from the market, covering costs such as transport, storage, destruction , product replacement and redeployment, to crisis management and consulting expenses, as well as securing compensation* for business interruption caused directly by the incident.
* With the analysis of the claim and as long as there is coverage according to the contracted product.
Cyber Risk Insurance
Cyber Insurance With the advancement of technology in the industry and the increase in the number of employees working remotely on their home networks, cyber risks are increasingly a concern in this type of operation.
Insurance is an additional layer of protection for companies that aims to support financial losses resulting from malicious cyberattacks, or even from incidents resulting from errors or negligence caused internally in the company, which result in data leakage and other damages related to the confidentiality of information.
Equipment insurance includes Yellow Line Equipment Insurance and Green Line Equipment Insurance , which protect against accidental external damage during operation.
Transport insurance in the area of transport and logistics is essential for several industrial operations, and it also brings several risks of incidents.
Property insurance is aimed at various types of business, including large industrial operations, this insurance protects against material damage . In addition to basic insurance for fire, explosions and lightning strikes, offers complementary coverage for natural catastrophes such as floods and windstorms, electrical damage and the breakdown of industrial machinery, including loss of profits , that is, the loss of revenue due to the stoppage of an activity.
There is also protection for the insured’s buildings and assets from minor events, such as a vehicle impact, accidental leakage of a fire hydrant or automatic shower, theft of goods, even glass breakage. The scope of coverage is broad and varies depending on the insured’s occupation.
For any industry, it is critical to be protected in the event of an accident. Having personal accident insurance is financial protection for the insured and his beneficiaries. There are over 30 coverages, ranging from hospitalization and dental care to disability or accidental death , in addition to a package of assistance that allows immediate use of the insurance and its benefits.
It is reassuring for the business to know that if something happens to a customer, employee or service provider, full support will be provided.