New CNA Report Designed to Help Manufacturers Mitigate Common Risks

Published on Thursday, 02 February 2012 16:35 Written by TradersHuddle Staff

CHICAGO-( Business Wire )-

CNA has a demonstrated commitment to serving the business insurance needs of the manufacturing segment. In its continued pursuit to provide cutting-edge services to this class, CNA has released a new report that is designed to help manufacturers better understand and mitigate common industry risks. InControl: Manufacturing – A Risk Profile provides a snapshot of employee health, safety and prevention programs in this sector along with insight into the challenges faced by manufacturers.

“By strategically using aggregated customer data, CNA is helping agents develop a better understanding of their manufacturing customers and the impact risk control programs can have on their bottom line,” said Bill Boyd, senior vice president – Risk Control, CNA.

Incorporating aggregated manufacturing claims and third-party industry safety data, the report’s findings are organized around three common areas of concern identified by manufacturing insureds: operational efficiency, employee safety and management, and supply chain. Key findings include:

• One-third of all employee injuries occurred to employees within the first year of employment.
• Majority of manufacturers (approximately 73%) do not have a formal product recall program that includes testing and auditing.
• Manual material handling injuries are the most frequent. Effective material handling programs reduce claim rates by approximately 16%.

Each section also suggests policies and procedures which manufacturing firms should consider in order to mitigate risk. The report is part of CNA’s InControl series for manufacturers which also includes InControl: Business Continuity for Manufacturers and InControl: Product Liability for Metal Manufacturers. Click here to access the full report.

“We look forward to sharing this information with all of our manufacturing insureds which cover a wide range of industries including food, minerals, chemicals, plastics and rubber; as well as our three manufacturing partner associations – the Architectural Woodwork Institute, Fabricators & Manufacturers Association International, and the National Precast Concrete Association,” said Steve Earley, vice president – Manufacturing Underwriting, CNA.

CNA Risk Control offers a wide range of services focusing on management accountability, cost drivers, and developing business solutions to help customers improve their bottom-line profit. In 2011, a new professional designation, UL Recognized Risk Engineer (RRE), was awarded to approximately 200 of CNA’s Commercial Risk Control staff in the U.S., Canada and Europe, based on the strength of its risk control services, educational offerings and ongoing professional development. For additional information about CNA Risk Control services, please visit www.cna.com/riskcontrol.

Serving businesses and professionals since 1897, CNA is the country’s seventh largest commercial insurance writer and the 13^th largest property and casualty company. CNA’s insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. For more information, please visit CNA at www.cna.com. CNA is a registered trademark of CNA Financial Corporation.

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Media Contact:Katrina Parker, CNA, 312-822-5167