Automotive Sector
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The difficulties faced by automotive companies in sourcing components during the Covid pandemic clearly highlighted just how thinly stretched the supply chain in this industry already is. And one could even say that today’s big automotive brands are more parts assemblers than constructors.
This transformation of the automotive industry, which is also more and more heavily reliant on software and electronics, necessitates a complete rethinking of what its insurance needs are. And these needs vary significantly depending on what the business produces, because while there are many big carmakers in the industry, in Italy, the sector consists predominantly of component manufacturers.
Another extremely critical aspect is maximum coverage: operations such as the recall of defective vehicles can be very costly – even seven – figure numbers are not uncommon in these cases – so it is imperative that the maximum coverage offered by the insurance is defined correctly.
This transformation of the automotive industry, which is also more and more heavily reliant on software and electronics, necessitates a complete rethinking of what its insurance needs are. And these needs vary significantly depending on what the business produces, because while there are many big carmakers in the industry, in Italy, the sector consists predominantly of component manufacturers.
Another extremely critical aspect is maximum coverage: operations such as the recall of defective vehicles can be very costly – even seven – figure numbers are not uncommon in these cases – so it is imperative that the maximum coverage offered by the insurance is defined correctly.
