Even the most competent business owners face risks. Some are small in magnitude, meaning that you would be able to overcome them on your own. Others are larger in scale, and these perils could put your company in serious financial danger.

In both cases, the right insurance coverage can help your company recover from the setback.

The threats hosiery manufacturers have to consider include those common to all commercial ventures as well as those more specific to their own field. Acts of nature are a prime example of a hazard that could affect any business - floods, hurricanes, earthquakes, and wildfires, for instance, all inflict different kinds of damage that could not only halt your production process but also ravage your facility.

Vandalism and theft are two more examples of threats that any company could fall victim to.

Types of Insurance Hosiery manufacturer need:
  • Premises/Business Insurance: Any number of accidents and catastrophes could damage or destroy your physical assets; your facility, machinery, raw materials, inventory, and computers. Commercial property damage is designed to cover them in case of theft, vandalism, and acts of nature. It can also reimburse some of the revenue you may lose due to these hazards.
  • Stock Insurance: This kind of hosiery manufacturer's insurance exists to cover you if a third party becomes injured on your premises, or your company's activities lead to third-party property damage (including environmental damage caused by spills). That means both your legal and any settlement expenses, in case of a successful lawsuit, are covered.
  • Product Liability: Designed to protect your company in the event your product caused third-party injury or property damage, this kind of insurance is especially important to manufacturers of medical hosiery. Should your product not function as advertised, the resulting legal expenses are covered by this type of insurance.
  • Group Mediclaim/ Group accidental: In any field, workers can become injured on the job. In fields such as hosiery manufacture, that carry the potential for exposure to toxins, chronic occupational illness is another risk. Workers comp makes sure that employees don't have to worry about medical bills, and their lost wages are covered as well.