Metallurgy industry: a future-oriented sector
As one of the most important industrial sectors of the global economy, the metallurgy industry is shaped by dynamic developments in different areas. To overcome these challenges, companies need a partner that knows exactly what type of risks the industry faces.
Metallurgy companies have to deal with high industry-specific energy requirements and an increasing globalisation, which both come with significant fluctuations in price. At the same time – as a further result of globalisation but also due to stricter environmental requirements – the pressure to innovate for foundries and workshops is growing. The complicated mutual dependencies with various other industries, such as the automotive industry, the consumer goods industry and the construction sector, are an additional challenge.
Funk has been advising and supporting companies from a wide range of industrial sectors for many years in all matters concerning risk and insurance management. Our experts identify complex global interrelations and help you to reliably master the challenges of your dynamic industry – not only in your day-to-day business but also with a view towards the future.
Insurance and risk management at a global level
- Property damage insurance against fire/explosion and machinery breakdown (technical and organisational fire protection).
- Business interruption due to property and technical damage
- Liability for third party claims resulting from the production system or the products themselves
- Professional liability insurance
- Environmental risks from processing products
- Product recall insurance
- Marine cargo insurance
- Credit insurance
- D&O insurance
- Legal protection and criminal defence insurance
- Vehicle insurance
- Employee health and benefits concepts
Mastering the core risks of the metallurgy industry
In light of the high investment volumes in the steel and metallurgy industry, business interruptions and failures are amongst the core risks of the industry. Accidents or defects in the plants have enormous potential losses, for example from damage to the ovens or the emission of molten masses. Furthermore, an accident usually leads to a massive disruption of operations. The complex international supply chains are interrupted, meaning that the consequential damages of an accident can have serious effects. Funk is by your side to find the right risk concept for your business. As a long-term strategic partner, we do not only support our clients in insurance and claims management, but also as a risk consultant with a holistic view of the company development.
Risks
Liability risks
The potential liability of companies varies depending on the industry or clientele. Nevertheless, all companies have one thing in common: even small mistakes can lead to severe losses.
Property damage and BI risks
While property insurance is a basic protection every company should have, the risk of business interruption is increasing steadily as well – especially for globally connected players.
Risks in M&A processes
The M&A market is booming: in a constantly changing market environment, transactions are the key to the success and future viability of companies. But their risks should not be underestimated.
Services
Funk China
Investing and operating outside of China becomes more and more essential for Chinese companies. The Funk China Division supports its Chinese clients in managing the risks, challenges and chances of worldwide outbound investments.
Insurance + risk management
Funk devises and implements holistic risk and insurance solutions for companies across all industries, sectors and countries. In doing so, our experts do not only secure your individual assets but also create genuine added value for your company.
Employee health + benefits
Employee benefits concepts are a sustainable component of a good corporate policy. Funk provides comprehensive, transparent advice with a view towards the long-term advantages for your company and your employees.
