The manufacturing industry is currently experiencing rapid growth in the aftermath of the COVID-19 pandemic. Along with that growth, however, comes a complex array of risks. Unison Risk Advisors’ Partnership with Assurex Global provides us with a host of useful data to help fuel our clients’ purchasing decisions. We’ve packaged this data into the 2023 Assurex Global Manufacturing Benchmark Report.

The Assurex Global Partnership comprises 46 premier insurance brokers in North America, plus an additional 54 worldwide. This benchmark study represents our third annual survey of the purchasing habits of manufacturers in the furniture/wood, machinery/equipment and metal segments. It includes data from over 1,000 manufacturing companies of various sizes.

Property Total Insured Values (TIV)

Furniture/Wood

Producing furniture and wood products requires equipment that can be expensive, technologically complex and computer-controlled.

The Assurex Benchmark survey found that 48 percent of the firms in this segment have property limits of less than $3 million, while 5 percent have more than $100 million in property limits. Twenty-seven percent of the companies in this segment have property limits in excess of $15 million.

Machinery/Equipment

Thirty-one percent of the firms in the machinery/equipment segment have property limits of less than $3 million of total insured value. Ten percent have more than $100 million in property limits. Thirty-eight percent of the companies in this segment have property limits in excess of $15 million, meaning that the average company in this segment possesses more property than the average manufacturer in our survey.

Metal

Thirty-one percent of the firms in the metal segment have property limits of less than $3 million. Seven percent have more than $100 million in property limits. Twenty-eight percent of the companies in this segment have property limits in excess of $15 million.

Request the Full Report Today

Our 2023 Manufacturing report features data on several other key lines of coverage, including general liability, excess liability, auto liability, errors & commissions, environmental impairment and more. Reach out to a trusted advisor today for more on Unison Risk Advisor’s manufacturing solutions. Request the full report here.