27 Aug Liability Insurance for Chemical Manufacturing Businesses
Liability Insurance for Chemical Manufacturing Businesses
If people see the word ‘chemical’ in popular media, it’s mostly associated with danger or the increased risk of harm. While that’s not always the case, industrial chemicals, and strong chemical products can create hazardous conditions for their users and, through that, potentially ruinous situations for their manufacturers. If your business works in chemical supply, you and your company can be held responsible for your chemicals and any services you complete long after the job is done. Here is an essential area of insurance coverage you need in order to mitigate the risks:
Get products-completed operations insurance to protect your company from claims made about completed jobs and manufactured chemicals.
You can be held responsible for leaks, property damage, and bodily injury that result from your company:
- Delivering chemicals off-site
- Using chemicals in the course of making repairs
- Handling any other operations
This insurance coverage also helps protect your company from claims related to the chemicals themselves, since manufacturing is the operation you completed.
This is an additional area of coverage under general liability insurance and helps protect your business from financial losses and legal liabilities during the period of coverage. Different types of products-completed operations insurance coverage apply to different types of insurance policies, such as whether your commercial general liability is claims-made or occurrence-based, so having an insurance expert who can help explain the policy in relation to your business is critical.
If you are considering modifying your insurance policy or you want to know what kind of additional coverage is best for a chemical supply company in your industry, contact Evolution Insurance Brokers. No matter the risk or history, Evolution Insurance Brokers offers customized liability insurance for chemical manufacturing businesses. Get a quote today!