Rodger Nahas
Account Executive
Fred Nadde
Director
The fibreglass industry however, according to leading experts, has stalled with the demise of the Australian motor manufacturing industry.
Over the last two decades the Australian insurance industry has shown little appetite for small to medium operators in both industries with a fair percentage of businesses being insured by Lloyds of London.
However, one cannot downplay the importance of both industries. Plastic and fibreglass are interwoven in our modern society.
What are the exposures?
Plastic processing can involve a number of different techniques, each with their own set of exposures. The range can include injection moulding, plastic extrusion, blow moulding, thermoforming, vacuum forming, compression moulding, rotational moulding and pultrusion.
Each process has its own unique risks but can include the use of flammable liquids and storage, hydraulic equipment, a high fire load associated with the compounding stage where combustible dust is common, as well as ignition points such as heating, machinery, industrial ovens, furnaces and grinding operations.
Whilst all fibreglass processes may be very similar, they have their own set of exposures, ranging from fire or explosion from the resins and solvents that are used (or the vapour generated by them), dust from the grinding and finishing stages of the products being manufactured, spontaneous combustion in waste material bins, incorrect mixing of chemicals or general housekeeping issues, and staff training.
Our staff have seen a variety of these types of businesses over the years ranging from well automated and operated businesses to those with poor risk management practices where the insurance market has not been eager to insure. We have worked with a variety of companies to ensure hazards are identified, risk management processes are improved, and insurance is made more affordable through such improved practices.
“Plastics and fibreglass are woven into our society and our way of life, however, the manufacturing of these goods can still be a hazardous process.”
What can go wrong?
A switchboard fire which occurred in a small fibreglass family business during business hours quickly got out of control because of poor housekeeping. Access to the fire extinguishers and hose reels were blocked off by a large quantity of finished goods. By the time access was reached, the fire was out of control and staff had to be evacuated.
The failure to have clear access to fire prevention equipment resulted in over $640,000 damage to the business.
FAQ
Fibreglass insurance is a type of liability insurance that provides protection to businesses in the event that an employee is injured on the job. The policy covers medical expenses and lost wages associated with the injury, as well as any damages awarded in a lawsuit.
Fibreglass insurance is often used by businesses that have a high risk of employee injuries, such as construction companies or manufacturers. It can also be helpful for companies that employ workers who are not covered by traditional workers’ compensation policies, such as independent contractors. Get in touch with our experts to discuss your Fibreglass Components Repair needs.
Yes. Most insurance companies have relationships with specific repair companies and will only reimburse you if those companies are used. Additionally, using an insurance company’s preferred repair company often results in a quicker and smoother claims process.
A zero-depreciation insurance policy means that 100% of the coverage applies to all costs associated with fiber, rubber, metal, and plastic parts. However, the insurance company does not include any damages incurred to the engine due to water or oil leakage. In addition, common wear-and-tear such as mechanical breakdowns, oil changes, insulation leakage, and other consumables are also ineligible for this type of insurance coverage.
Fibreglass Boat Insurance is a policy that provides coverage for damages to your glass fibre. This type of insurance claim can help protect you from costly repairs or replacement costs in the event that your boat is damaged or destroyed.
Policies typically provide coverage for damages caused by a number of different events, such as collisions, fire, theft, and vandalism. They may also offer protection for medical expenses and legal costs if you are injured while on your boat.
When choosing a Fibreglass Boat Insurance policy, it is important to consider the amount of coverage that is right for you. Be sure to ask about any limitations or exclusions that may apply to your policy.
Yes, repairing or restoring carbon fiber components or material is typically covered under an automobile insurance policy. Carbon fiber is considered a high-end repair and usually costs more than traditional repairs, but the insurance company will cover the cost as long as it falls within the coverage limits of the policy.
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