Success in the printing industry depends upon your ability to deliver precise work on a precise deadline. Customers depend upon you to deliver material with speed and accuracy. Conversely, you depend upon machines, products, services, man power, utilities and many other factors to meet the expectations of your clients and stay ahead of your competition.
These unique exposures demand specialized industry knowledge in order to provide industry specific protection. At Swingle Collins & Associates our dedicated team has that specialized knowledge and will work with you in order to develop and implement risk-management plans tailored to your organization's goals.
In managing the risks specific to the printing industry, certain unique exposures stand out from the insurance considerations undertaken by other business owners. For example, special consideration needs to be made to any printer's property coverage. Most printing companies have an inordinate amount of machinery and equipment. The cost to replace or repair this equipment can be substantial, since many of these machines are old or highly specialized. Finding replacement equipment or parts can be a challenge. Additionally, the lost time and productivity of this equipment is a valuable consideration.
It is not uncommon for this industry to be involved in activities that require a constant source of power, water or communication services derived from a utility company. Loss of such utility services could result in direct loss of property, as well as an indirect loss of income or extra expenses that occur because of the resulting shutdown of the insured's business. Consequently, printing business owners should consider off-premises utility service interruption protection when choosing coverage.
In addition, a review should also include the products-related exclusions found within the CGL policy to ascertain if they need to be deleted or modified to provide broader coverage. Such modifications might alter or eliminate the "products recall", "injury to products", "faulty work" or "faulty products" exclusions.
These are just a few of the issues that a careful, well-informed business owner in the printing industry ought to consider. Pollution, professional liability, auto, workers compensation programs and many others should be discussed with an agent you trust who understands your business and your specific needs.
