Insurance for Manufacturers, Machine Shops & Fabricators
As a manufacturer, you face unique challenges to your business. Strong processes and a proactive risk control program will reduce but not eliminate losses to productivity. Whether your organization suffers a fire, frivolous legal action or a cyber attack, a strong insurance program will always be the backstop making the difference between thriving, just surviving or failing.
Setting up an insurance policy is only a part of the solution to safeguard your business.
What have we done for other Manufacturers?
click on each heading below to learn more about both insurance and non-insurance solutions.
Business Interruption
is a complex insurance product. We work with forensic accounting professionals to assist in development and maintenance of accurate limits. In the event of a claim, we work with those same professionals to ensure a seamless claims process.
Equipment Valuations
are a moving target with inflation and supply chain issues. Insurance companies are reducing claim amounts for underinsurance. Working with contents and equipment appraisers, we make sure that values remain current and are defensible after a claim.
Cyber Insurance for Manufacturers
has evolved to protect business owners from fraud and system shutdowns and lockouts but insurance is only one part of that solution. We partner with Cyber professionals and training platforms to assist our clients in avoiding unnecessary downtime and funds lost to fraud.
How can you meaningfully impact your cost of insurance?
Claims and lack of proper risk control measures are the largest drivers of insurance cost increases.
The only way to differentiate your business in this space is to become ‘best in class’ at managing your risk. Insurance policies become contingency plans and actively managing your risk is a primary activity. Every insurance solution has a complimenting risk control activity.
We Can Help!
Thor Insurance and Financial is a locally owned Northern Alberta insurance and benefits brokerage with roots going back to 1979. Our management team has over 100 years of commercial insurance experience, which we leverage to serve our commercial and industrial clients … Local Access, Global Reach.
Running and growing a successful business is complicated. We partner with companies like yours to support the areas of your business you don’t have time to become an expert in. No “cookie-cutter” insurance policies; we work with our clients in a holistic fashion to create solutions. In addition to insurance and employee benefits solutions, we offer
- Financial Planning, Tax and Succession Advice,
- Business Continuity Planning and Business Interruption analysis,
- Key Person and Life Insurance solutions,
- Cyber Risk Assessments, pre-loss staff training and post-loss remediation,
- Human Resources solutions ranging from Safety Manuals, Employee Manuals, customizable Employment Contracts,
- Risk control support and development of documentation such as Spill Response plan and Drug & Alcohol policies, Fleet management guides,
- Group & VIP Personal Insurance,
- Surety/Bonding,
- Online Registry, renew your fleet registration from the comfort of your computer