FAPM members can gain a comprehensive liability insurance package specifically tailored to meet the ever changing and unique exposures facing component manufacturers.
Whilst general liability insurance covers are widely available, the FAPM insurance scheme recognises the unique contractual challenges the industry operates under and importantly provides cover for Product Guarantee Financial Loss and Product Recall exposures.
The facility is managed by and available from Richard Oliver Underwriting Managers. As the industry forges forward in manufacturing product of a world quality standard, the level of incidents reported has also increased. Ironically this increase in claims occurs in a time where improvements in quality assurance are at an all time high.
This situation underlines the fact that fortuitous events can occur and the financial consequences can often be beyond a member's ability to fund a loss from free cash flow.
Click here to download the latest brochure on the Product Recall, Product Guarantee and Financial Loss Liability Scheme.
For more information regarding the FAPM Insurance Scheme, please contact:
Mr David Bannerman
Richard Oliver Underwriting Managers Pty Ltd
Ph: 03 8681 9827
Fax: 03 8681 9971