Compare Plastic Manufacturer Insurance
Why use Clarke Williams for your Plastic Manufacturers Insurance?
Call 01732 252 898 or email us today for a comprehensive insurance policy at a competitive price.
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What business insurance do plastics manufacturers need?
Every business is unique so we create a bespoke quotation tailored to your exact needs and are able to cover every aspect of your business. We can provide Plastic Manufacturing Insurance policies with a broad range of insurance covers to choose from including:
- Business Interruption
- Credit Insurance
- Directors and Officers Liability Insurance
- Employer’s, Public and Product liabilities
- Engineering and Breakdown
- Marine Cargo / Goods in Transit Insurance
- Professional Indemnity Insurance
- Environmental Liabilities
- Cyber Liability
- Surety Bonds
- Insurance Backed Guarantees
- Motor Fleet
- Property, Machinery, Stock and Contents
What factors will affect Plastic Manufacturers Insurance costs?
- Premises: location, construction, exposure from surrounding premises
- Stock: how is this stored, are hazardous materials present if so how are they stored,
- Machinery: adequate breakdown cover, lead times if it needs to be replaced, are there any unattended processes
- Protections: availability of fire brigade and other fire fighting resources, sprinkler and any other fire protection systems in place
- Security: physical protections, intruder alarm protection and other security measures in place to reduce risk of break-in and theft such as CCTV, security bars, patrols
- Business Interruption: assessment of the likely interruption to the business in the event that a material damage loss is sustained and review of disaster recovery plans
- Liability Risks: Health and Safety arrangements and training, control processes for static electricity build ups and hydraulic pressure systems, quality assurance procedures
- Exposure: Where are materials sourced from and where are they distributed to, are there adequate quality control processes in place, are the products safety critical
As specialists in the Plastic Industry we work with industry leading insurers who truly understand the difference methods of manufacturing including:
The principal method of forming thermoplastic materials. In injection moulding, plastic material is put into a hopper that feeds into a heating chamber. A plunger pushes the plastic through a long heating chamber, which changes the material from solid to liquid. At the end of the chamber is a nozzle that presses firmly against a mould. The liquid plastic is shot through the nozzle into the mould. As soon as the plastic cools to a solid state, the mould opens and the finished plastic is ejected from the press.
The method used when forming closed hollow articles out of thermoplastic materials. The process includes forming a molten tube of thermoplastic material, then with use of compressed airblowing up the tube to conform to the interior of a chilled blow mould.
Thermoforming of plastic sheets consists of heating the thin sheet to a formable plastic state and then applying air and/or mechanical assists to shape it to the contours of a mould. This is often the method used to form the nest for objects sold in containers.
Generally used for thermosetting plastics. Plastic is cured into an infusible state in a mould under heat and pressure. The plastic is heated to a point of plasticity before it reaches the mould and is forced into a closed mould by means of a hydraulically operated plunger
Reaction Injection Moulding
A fairly new process in the industry and therefore potentially requires further investigation by insurers before offering terms. Two liquid components, polyols and isocyanates, are mixed in a chamber at relatively low temperatures ( 25-60 degrees C) before being injected into a closed mould. An exothermic reaction occurs and consequently this method requires far less energy than other methods.
The most common method of forming thermosetting materials. Simply, the squeezing of a material into a desired shape by application of heat and pressure to the material in the mould.
In extrusion, dry plastic material is first loaded into a hopper, then fed into a long heating chamber through which it is moved by the action of a continuously revolving screw. At the end of the heating chamber the molten plastic is forced out through a small opening or die with the shape desired in the finished product. as the plastic extrusion comes from the die, it is fed onto a conveyor
"It will never happen to me". Still not convinced? Have a look at the below claims examples for Plastic Manufacturers: We hope it will never happen, but here are some claims examples from the real world.
Manufacturer of moulded residential and commercial products
A fire broke out in the production/shipping area of the building during a reduced shift. The fire consumed the major production and product storage areas while causing extensive damage to the remainder of the facility that housed additional machinery and equipment, contents and unfinished stock.
The fire was caused by a light fixture, which fell, broke and ignited packing material and other flammable materials in the vicinity. The precise cause of the lamp fall was not clear, but it did not appear to be adequately secured.
Amount of Claim: £48,066,974
Machinery and Engineering: £8,215,982
Business Interruption: £12,020,392
Increased Costs of Working: £9,921,456
Outcome: The facility was completely shut down for six months. Outsourcing manufacture to minimize the loss of sales was important in controlling the total business interruption loss, but outsourcing costs did exceed original expectations and resulted in a large increased costs of working claim.
Manufacturer of Plastic Automotive components
There was a fire in the burner house that connects to the main oven used for drying painted parts. There was a separation in the panels of the oven that caused sparks to ignite the insulation. Insured was able to re-route the line during repairs and remain operational.
Amount of Claim: £445,678
Increased Costs of Working: 356,215