Canadian manufacturers, distributors and wholesalers have experienced consistent growth driven by a strong economy. To place their products on retailers’ shelves they are also required to carry their own property and liability insurance. APRIL Canada is proud to introduce a new manufacturer’s insurance product to specifically answer these needs.
Kent Pitkin National Director Commercial at APRIL says “We are delighted to have a solution for small to mid-sized manufacturers, wholesalers and distributers across Canada. Strong underwriting limits of up to $10MM backed by Lloyds of London including key domestic markets have enabled us to create a competitive product.”
One key challenge for manufacturers is the relationship between Canadian manufacturers and our key trading partner the U.S which means insurance coverage must include US product exposure and US based support offices. APRIL can cover products sold to the US and worldwide exposures, including products stored in US locations.
In fact the core package itself is extremely comprehensive including Property, Casualty, Crime and Boiler cover. A variety of extensions offer the flexibility not only to add the US cover but also hook liability, moulds, and business property being worked on.
Karen Roller Underwriting Director at APRIL adds “We believe we have a strong package which truly meets the needs of small to mid-sized businesses across Canada. The ability to link this with other new APRIL coverage options can further optimise the cover”.
Responding to growing industry needs as cited in recent media, APRIL has also introduced additional options include flexible business interruption, product impairment and product recall coverage (including contamination for food & drink manufacturers). These can all add to the utility of the product depending on the manufacturer’s needs, and are also available as stand alone.
The decision to launch this product was easy according to Nick Kidd, CEO APRIL Canada. “For us it is simply about creating opportunities and synergies to bring additional value to our brokers,” he says. “We have a strong proposition in the commercial area, are strong in property and casualty and have great offers in transport and logistics. Adding to our offering in the commercial space where there was true demand for the product was a natural place to go”.
The manufacturing product offering will be available to all brokers in Canada.