Supporting Niche Manufacturers with Specialist Product Liability Cover
Recently, an independent Motorsport engine manufacturer was talking about their new tie-up with a global Automotive OEM.
“As a Motorsport engine manufacturer, even though it’s massive business really, it’s tiny compared to our new OEM Partner, and if you’re trying and get an electric vehicle component supply company to be interested in supplying your 50 bits, they’re just not interested, there’s not enough margin for them. But when the OEM knocks on the door, people answer.”
This is a recognised challenge for small, niche product manufacturers — large suppliers often lack the flexibility to adapt their skills and tooling for bespoke, limited-batch production without incurring disproportionately high costs.
A similar issue arises when niche manufacturing businesses are seeking Product Liability insurance cover. In fact, the engine manufacturer’s difficulty in obtaining components may stem from the supplier’s insurer increasing the premium once they disclosed an approach from a Motorsport customer.
Contrary to popular belief, the UK does still make things. While mass production has largely moved offshore, the UK remains home to thousands of exceptional engineering minds working on inspirational solutions to global challenges - such as clean energy generation and storage, low-carbon transport, sustainable food production, and water conservation.
The insurance industry often categorises businesses by size or premium spend, rather than by the complexity of their activities. Microenterprises and small SMEs typically generate lower premiums, so insurers aim to transact them as efficiently as possible -via online portals, statements of fact, and AI-driven processes-reserving human underwriting resource for larger accounts.
Big Business Insurance Power for Smaller Manufacturers
What we offer smaller manufacturing businesses is the same insurance buying power that larger businesses already enjoy;
Access to a physical Underwriter who will individually assess your risk exposures
A tailored, bespoke Product Liability Quotation & Premium
The same coverage & protection that a larger engineering business would expect to receive
So if you are struggling to place small UK manufacturing risks or dealing with rising minimum premiums and if your clients work with safety-critical products, export to the USA/Canada, are start-ups, or operate in specialist sectors including Motorsport, Energy, Marine, Defence, Transport or Medical industry, we can help with their Product Liability exposure.
Speak to M & M Underwriting today
For practical, bespoke Product Liability solutions backed by real underwriting expertise, get in touch with Gary Honey at M & M Underwriting. Call 020 8687 4137 or 07977 694105, or visit www.mmunderwriting.co.uk to discuss your requirements today.
We are Fair Tax Mark accredited, a supporter of the Insurance Museum, a sponsor of the Niche Vehicle Network, and a member of the MGAA.
