In addition to labour shortages, supply chain disruptions, quickly-advancing automation, and an urgent need for sustainable systems, many Canadian manufacturers are struggling to obtain insurance.
Several insurance coverage areas for manufacturers are in a hard market state. As a result, premiums and deductibles are increasing while coverage limits are reducing. Some insurers are leaving the sector entirely, which is shrinking market capacity. The relationships your broker has with international underwriters are key.
It has never been more important to work with a broker who is an expert in the manufacturing industry.