The field of engineering is a rapidly evolving one, involving as it does increasing use of automation and computer aided design and manufacture. It’s also very likely that an engineer’s work will include giving professional advice and undertaking design tasks, which give rise to professional and product liabilities. A successful claim can devastate an engineering business, and possibly the wealth of its directors too.
Add to that the growing regulatory burden and the rise of cyber crime that engineering businesses face, and the need for expert advice in arranging your insurance cover is clear.
GSK’s broking team includes experts in the engineering field who understand the realities of those who operate in it, from boutique consultancies to major engineering and fabrication concerns. When you contact us, we begin a process that will deliver an insurance policy perfectly tailored to the needs of your business.
We start with a detailed analysis of your business through which we build a risk profile for your business. This enables us not only to identify the categories of risk that apply to you, but to suggest an appropriate risk strategy. It’s important to strike a balance between the risk you insure, and the risk you retain in the form of excess – sometimes known as “deductible”. Once we have agreed upon your risk strategy, we use our unrivalled access to the insurance markets to obtain cover under optimal conditions and premiums.
A typical engineer’s insurance policy from GSK Insurance will include cover for the following risks:
- Management Liability
- Public and Product Liability
- Project Liability
- Workers’ compensation
- Machinery Breakdown
- Electronic Equipment Breakdown
- Cyber Insurance, including Third Party data breach
- Theft and Property Damage
- Business interruption
Protect your engineering business by insuring with the professionals. Give GSK a call today, or send a contact request here.