When it comes to insuring your heat treat plant in today’s uncertain business climate, two challenges are driving members crazy:
- Accessibility: Many insurers are not writing or renewing heat treaters, and
- Affordability: Heat treaters are seeing rates rise dramatically
Many MTI Members have shared that they are experiencing a cancellation of coverage, refusal to be offered a quote, or large rate increases. This puts a company at great risk that hits the bottom line hard.
In October of 2023, MTI approved an official insurance agency to bring viable business insurance options at an affordable premium to MTI members through Precision Manufacturing Insurance Services (PMIS) out of California. PMIS offers coverages for:
- Custom Manufacturing Insurance
- General Liability Insurance
- Property Insurance
- Workers’ Compensation
- Manufacturers’ Errors and Omission
- Equipment Breakdown
- Commercial Auto
Since October, numerous Members have already accessed, and been approved for quality coverage through PMIS at savings of 20% - 40%.
With that kind of savings, it is worth getting a quote and looking at it. This is a huge pain point for Members and MTI is committed to helping bring great options for Members to solve the accessibility and affordability challenges with business insurance.
CLICK HERE to watch a recent webcast of MTI’s Tom Morrison interviewing Jonathan Dotcherman from PMIS, discussing the insurance options for MTI Members through PMIS.
PMIS provides heat treating companies with comprehensive, competitive insurance, and risk management solutions. They are dedicated to protecting the future of this vital industry. They offer their knowledge, experience, and service to the many types of metalworks that put people to work, contribute significantly to our national GDP, and deliver quality products worldwide.
They know there is nothing cookie-cutter about what you do when altering the physical properties of a material. Your work is precise and custom. With PMIS you’ll get the same type of focused approach with your insurance and risk management plan. Recognized nationwide for their specialization in working with metalworking manufacturers, we’ll provide you with tailored solutions based on your unique risks. Their professional staff is here to support your industry and business.
When prospective clients ask why they should partner with PMIS for their insurance and risk management needs, the answer is simple: They are Metalworking Manufacturing Insurance Specialists. This is who they are and the only thing they do. They are not a generalist broker who happens to write a few manufacturing accounts. They have written over 1,000 policies for metalworkers, all attributed to their expertise, experience, and longstanding relationships with insurance markets. This enables them to deliver affordable solutions to MTI Members that protect their property, assets, employees, and reputation, while reducing risk and costs.
To see more details on Precision Manufacturing Insurance Services and the MTI Insurance Program, including a link to request to speak to a PMIS team member about getting a free quote for your company, CLICK HERE.
If you have any questions, contact Tom Morrison at tom@heattreat.net.