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Manufacturers are shifting from a “Job Shop” only model to one that also includes engineering and design services, elevating the risk of exposure to financial injury resulting from a product or service not meeting client requirements. Manufacturer’s Errors & Omissions (E&O) coverage pays damages if your customer claims that your mistakes have caused them a financial loss. This is important, as when there is no bodily injury or property damage trigger, coverage under a General Liability or Products Liability policy for a third-party financial loss related to the manufacture or design of a product will not be covered.
Manufacturer’s E&O coverage is designed to bridge the potential gap in your General Liability and Products Liability insurance. The policy responds to the financial damages you are legally obligated to pay a third party due to negligence in the design or manufacturing a product. Our Manufacturer’s E&O policy can be designed to include coverage for the following activities: design, development, manufacturing, selling/reselling, installation, consulting, plan specification, labeling, packing, and instructions for use and maintenance of products.
It’s important to work with professionals experienced in insuring manufacturers and securing an E&O policy that is specific to your operation. That’s what you get with our professional staff whose sole focus is to protect the manufacturing industry. With our Manufacturer’s E&O insurance, along with our General Liability policy, you have peace of mind knowing that your coverage is closely coordinated across two critically necessary lines.
PMIS developed ManufacSurance® to help you address the range of risks you face. As your business evolves and deals with an increasingly changing global business environment, our insurance program will provide you with the security you need to thrive and grow. For more information about our exclusive program, please contact us at 855.910.5788.