Individual insurance solution for automotive suppliersCorporate insurance concepts for the industry

In addition to compensation claims arising from personal injury and property damage, today automotive suppliers are facing more liability claims from third parties that arise from contractual obligations. It is true that extended product liability insurance is a fundamental component of balance sheet protection, particularly in the multi-link value creation of the automotive supply chain. Nevertheless, it fails if its agreements have not been aligned with individual, contractual liability assumptions. In this case, a regular review of the agreed scope of cover in accordance with the provisions of the delivery contract is required.

Recall cost insurance for motor vehicle suppliers is a special form of classic recall cost insurance. Since there is usually no first-party recall on the part of the supplier itself; the organisations issuing the recall are usually manufacturers, importers or a government agency. Often the supplier is confronted with recourse claims from the parties cited above and has no influence whatsoever on the scope of the measures initiated.

In the supply chain of subassemblies it is not uncommon for such recourse claims to arrive at the supplier’s facilities with a considerable time delay. This circumstance regularly complicates exculpation efforts.

In the past, insurance of environmental risks was one of the main areas of focus to protect such plants against third-party liability claims. As a result of increased environmental awareness, there is now a trend toward accumulation of claims under the Environmental Damage Act. With the Environmental Impairment Act (USchadG) – or formally correct: “Law on the Prevention and Remediation of Environmental Damage”, uniform requirements for the remediation of environmental damage caused by accidents (especially ecological damage) were formulated for the first time.

For a holistic solution, we offer our “360-degree view”.

The entire production chain from processing to the finished product involves many fire risks. Negotiating with the risk carriers regarding a fire protection concept tailored to your circumstances is an essential part of our risk management. This also takes into account your individual economic and statutory boundary conditions for fire protection at all times.

With regard to purchase of insurance cover, we advise you professionally concerning the placement of your contract. If there are complex requirements, we place your insurance programme with national and international risk carriers. In addition, we have sufficient experience in putting consortia together and vertical pricing.

In addition, our own technical departments are in constant contact with the insurance providers. This enables an ongoing professional exchange and the necessary negotiations, which are conducted on an equal footing.

We would be pleased to prepare an individual profile for you. Put us to the test!