Insurance cover at a global level: insurance and risk management for car manufacturers and automotive suppliers
The automotive industry faces a range of various specific risks and challenges. On the one hand, the entire industry from car manufacturers to suppliers has a global focus with international supply chains and strong dependencies between all involved. Supplier relations in the industry are also governed by highly complex agreement structures that are adapted and extended on an ongoing basis and can have serious consequences in the event of complaints and warranty claims.
An insurance strategy for automotive suppliers and other companies in the automotive industry must therefore not only be designed to be international but must also detect the risks of a company and cover these as best as possible. Funk combines the expertise of the insurance market with extensive industry experience and global competency. As a result our clients in the automotive industry receive tailored insurance solutions that cover their entire supply chain.
Optimal cover for production – with specific solutions for car manufacturers and OEM businesses
In addition to somewhat considerable investments, the automotive industry is also known for a high degree of innovation and technical development. This comes with an increased risk in the event of a business interruption, vehicle recall or in cases of product liability. The international supply chain that is typical of the industry, with high dependencies between all involved, is another risk factor when it comes to insurance and claims management. Funk recommends the optimal solution for you from the entire spectrum available on the insurance market, e.g. in terms of property insurance, technical insurance, public liability and business interruption insurance.
Reliable consultancy for insurance products in the automotive sector
We use all of the relevant insurance modules on the global market to put together an individual insurance package for each of our clients:
- Public and products liability insurance
- Vehicle recall insurance
- Property insurance
- Business interruption insurance
- D&O (Directors and Officers) liability
- Cargo insurance / transport insurance
- Freight liability insurance
We analyse the specific insurance needs of each client and devise individual cover concepts in line with their risk philosophy. On this basis we find proper measures for risk management and recommend the best insurance solution to car manufacturers and companies in the automotive sector. In our considerations we also incorporate the contractual framework conditions as they are shaped by warranty agreements, quality assurance agreements, framework supplier agreements, waivers of recourse, liability understandings etc. Our clients benefit from our expertise and our position as the largest independent family-run insurance broker in Germany.