2023 Manufacturing Benchmark Report

Assurex Global 2023 Manufacturing Benchmark Report

Is your manufacturing company paying too much for insurance? How would you know unless you had data on your peers?

Click here to view the 2023 Assurex Global Key Findings and Trends. The 5-page report is a condensed version of the larger 77-page Assurex Global 2023 Manufacturing Benchmark Report. Key findings in the report include:

• Property rates have increased 37% on average compared to last year
• General liability rates increased 18% on average compared to 2022's survey
• Directors and Officers (D&O) premiums increased 37% on average compared to last year

The key insights is an excellent summary, but the Assurex Global Manufacturing Benchmark Report goes into detail about insurance limits US Manufacturers are buying as well as how much are those US Manufacturers are paying (rates). The report details data on:

• Property Total Insured Value
• Property Deductibles
• General Liability Coverage Limits
• GL Rates
• Excess Liability Coverage Limits
• Auto Liability Coverage Limits
• D&O Liability Coverage Limits
• D&O Premium Rates
• Cyber Coverage Limits

The report also delves into what percentage of Manufacturer's are choosing to purchase Errors and Omissions, Environmental Impact, International, and Product Recall coverage. It further breaks down all of its data by the Furniture/Wood, Machinery/Equipment and Metal industries.

Assurex Global is the world's largest privately held commercial insurance, risk management, and employee benefits brokerage group made up of prominent independent agents and brokers throughout the world. In total it represents $32 billion in annual premium volume and more than 600 Partner offices. R&R Insurance is the exclusive Wisconsin-based agency in the Assurex Global network.

Click here for the 2024 Manufacturing Benchmark Report Key Findings.