Sometimes the most common causes of significant financial losses for manufacturing companies also are the most overlooked risks.
From an operational risk standpoint, many risk managers and business owners tend to focus more on external and natural catastrophe perils such as fire, flood, windstorm and earthquakes. They often ignore exposures to manmade accidents that also can cause millions of dollars in repair and replacement costs as well as lost income.
The following are four key asset protection strategies that can help industrial companies mitigate financial risks associated with equipment breakdown, inaccurate valuation, law and ordinance costs and flood zone change.
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