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 The strength of the global economy the last several years has been very good for the manufacturing sector. However, manufacturers today face a confluence of challenges greater than those seen just a few years ago.
Expanding business and consumer markets the world over have joined with a global search for labor (either low cost or highly skilled) to hasten the globalization of supply chains. Add to the mix enhanced environmental regulations that are not standardized globally, and the result is a risk management environment that is more costly and complex than ever.
Marsh's Manufacturing Practice coordinates the global resources of Marsh and its sister companies (including Kroll, Guy Carpenter, Mercer, and the Oliver Wyman Group) in risk management consulting and insurance placement execution to help clients in their efforts to identify, quantify, reduce, mitigate, manage, and transfer risk in the following sectors: Automotive; Building & Forest Products; Food & Beverage; Mobile & Industrial Equipment; Textile & Apparel; and other miscellaneous manufacturing sectors.
Marsh's risk professionals understand the key issues and trends affecting manufacturers, and bring a wealth of solutions to problems to help clients find the upside of traditional and new risks. A sample of the key risk issues facing manufacturing clients, and the solutions Marsh and its sister companies provide, include:
Workforce Risk — Our human capital experts provide a wide range of solutions to help you hire, deploy and keep the right workforce including, among others, effective benefit program design, background, job spec and drug screening services, as well as pre-loss risk mitigation consulting to assist you in reducing absence and injuries.
Workers Compensation — Marsh's proprietary post-loss services help you manage important variable costs of workers compensation programs, which on average represent more than 90% of costs. Our in-depth analysis and diagnostic tools coupled with expert claim management, reporting and inventory workout services provide you with the insight, guidance, and tools to manage and lessen costs.
Product Recall and Liability — Our consultants work with you in your efforts to help prevent product recalls from occurring, and prepare you for a recall by having a crisis communication plan in place along with appropriate supply chain recovery options designed to reduce business interruption and protect your brand.
Supply Chain and Business Continuity — Our business continuity consultants help you in your efforts to mitigate risk in your supply chain through risk assessment, supplier selection assistance and contingency planning, emergency response preparedness and training, crisis communication development and deployment, and business recovery planning, training and simulation.
Environmental Exposure — We can assist you in liability identification and valuation (including FIN 47 valuation), remediation process management and risk transfer, insurance-related acquisition evaluation, and contractual indemnity consulting, among other services designed to assist you in your efforts to effectively treat your environmental exposure.
We augment these pre-loss mitigation and post-loss management solutions with manufacturing industry insurance placement expertise to access global insurance capacity and assist you in obtaining improved coverage terms and negotiate competitive premiums.
We also provide an inventory of benchmarking reports that reflect your specific peer group and address a wide range of coverage types including executive liability, casualty, workers compensation, property and environmental.
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