What is Manufacturing Insurance?
Massachusetts businesses that are in the manufacturing business face a variety of risks, including both property and liability perils. These risks are often substantial, and it’s important to protect against them when possible. One way that manufacturers can protect themselves from many risks is by purchasing manufacturing insurance.
Manufacturing insurance is specialized commercial insurance for businesses in the manufacturing industry. In order to provide manufacturers with multiple protections, these policies are normally underwritten as package policies that combine several coverages together.
Do Manufacturing Policies Come With Workers Compensation?
Workers compensation is an important protection that normally protects against workplace injuries and illnesses, which are not insignificant risks in the manufacturing industry. Manufacturers that have employees are often required by state law to carry the coverage, and it may pose both a significant liability risk and potential legal issue not to.
In many cases, workers compensation isn’t included in manufacturing policies but is purchased separately. An insurance agent who’s familiar with manufacturing policies can also assist with workers compensation.