Automotive industry: global insurance cover
The automotive industry faces a range of specific risks and challenges. On the one hand, the entire industry from car manufacturers to suppliers has a global focus with international supply chains and strong interdependencies between all parties involved. On the other hand, it is characterized by a high degree of innovation and technical development.
The wide-ranging supplier relations in the automotive industry are usually governed by highly complex contractual agreements. These are adapted and extended on an ongoing basis and can have serious consequences in the event of complaints and warranty claims. These factors, as well as the globalized processes of the industry, increase the risks in the event of a business interruption, vehicle recall or product liability case. Funk is your partner in devising a tailor-made insurance program for your company.
Specific solutions for car manufacturers and OEM businesses
- Property damage insurance against fire/explosion and machinery breakdown (technical and organisational fire protection)
- Business interruption insurance due to property damage and machinery breakdown
- Liability insurance for third party claims resulting from the operation or the vehicle (parts) produced
- Professional liability insurance
- Vehicle (parts) recall insurance
- Environmental insurance against production risks
- Marine cargo insurance
- Freight liability insurance
- Credit insurance
- D&O insurance
- Legal protection and criminal defence insurance
- Vehicle insurance
- Employee health and benefits concepts
Comprehensive risk analysis and consulting for the automotive sector
We analyze the specific insurance needs of each client and design cover concepts in line with the individual risk philosophy. On this basis, we find proper measures for risk management and recommend compatible insurance solutions to car manufacturers and suppliers in the automotive sector. Our considerations also take the contractual frameworks into account that govern global supply chains and are shaped by warranty, quality assurance or framework supplier agreements, waivers of recourse, liability understandings and other factors. Our clients benefit from our expertise, global competence and market position as a leading insurance broker in the automotive industry.