A message from KBDi Insurance Partner, Cabinet Makers Insurance Brokers
 
With COVID-19 lockdowns and restrictions slowing or preventing installations, it has become apparent that many cabinetmaking businesses are holding increased volumes of stock, work in progress cabinetry combined with customers appliances awaiting installation and is potentially ballooning the value of insured stock that is typically held in their Business Premises.
 
Accordingly, it is imperative that cabinetmakers urgently review their current policies and requirements to ensure adequate coverage will exist if a loss is incurred. 
 

Risk Management associated with excessive storage should also be addressed. Manufacturers should consider: 

  • How the goods are being stored – fire can spread quickly with congestion, and warehouse managers should ensure goods are stored in designated areas of the factory away from flammables and other ignition sources.
  • Goods stored at increased heights can pose a falling risk and potentially injure employees or others.
  • If factories are left unoccupied for long periods of time, valuable items such as customers’ goods should be stored away from entry points and secured if possible. Alarm systems, security gates and windows should be checked to ensure reliability in case of break-in and theft.
 
Cabinet Makers Insurance Brokers strongly encourage KBDi Members to assess their risks and revisit their coverage today. To learn more about their policies and levels of cover, contact Cabinet Makers Insurance Brokers here.