Manufacturing

The Manufacturing industry accounts for a significant share of the industrial sector in developed countries. Manufacturing industry in India contributed to 20% of nation’s GDP as of 2009. Manufacturing sector grew by 9.2 per cent in Q2 of 2009-10 against 4.9 per cent in Q2 of 2008-09.

The Manufacturing industry in India is believed to have the potential of improving the economic condition of India. The Manufacturing industry in India has all the qualities which enhance economic development, increase the productivity of the Manufacturing industry and face competition from the global markets.

India ranks among the top 12 producers of manufacturing value added (MVA). In textiles, the country is ranked fourth after China, USA and Italy, while in electrical machinery and apparatus, it is ranked fifth. It holds sixth position in the basic metals category; seventh in chemicals and chemical products; tenth in leather, leather products, refined petroleum products and nuclear fuel and twelfth in machinery and equipment and motor vehicles.

Hazardous Manufacturing industries include those that manufacture hazardous chemicals, petroleum products, leather and other animal products, explosive ammunitions, cement, fertilizers, textiles, etc. Hazardous Manufacturing industries require special care during production process as they involve risk of fire, inflammable fumes, etc.

In the Manufacturing sector, risk management techniques are as varied depending on the products that companies manufacture. Some firms choose a financial engineering strategy while others prefer to mitigate risk using commercial insurance products. ENAM offers specially designed risk solutions managed by a set of distinct steps, to successfully identify, manage and control the risk.

ENAM Risk Management Strategy

Assistance in determination of the objectives of the client company
Advice on specific and detailed risk identification, analysis and assessment
Selection of the risk treatment devices or appropriate covers from the market
Arranging for risk transfer with optimization of covers at best possible quotes
Prompt claims facilitation, cooperation and provision of technical expertise.

To know more, please feel free to write to insure@enam.com

Best Viewed with Internet Explorer 7 or higher at 1024 x 768 pixels

Enam Insurance Broker is regulated by Insurance Regulatory and Development Authority; License Code: DB – 340/06’