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Cork Products Manufacturers Insurance Policy Information

Cork Products Manufacturers Insurance

Cork Products Manufacturers Insurance. Cork is a natural material harvested from a certain type of oak that is native to Europe and Northern Africa. Particularly, cork is a part of the bark of cork oak. Not only is it impermeable to fluids, cork also floats on water and other liquids, and slows fire down.

Cork product manufacturers import raw cork from countries that border the Mediterranean. The slabs of raw cork may be cured in the open for up to six months to strengthen them. The slabs are softened by boiling or placing into a chemical bath, then cut and formed into end products. Any remaining cork is ground, mixed with adhesives or binders, formed into shapes, and then baked.

A vinyl coating may be added to help protect the cork and make cleaning easier. Cork is buoyant, impermeable to gases or liquids, and resistant to fire, insects, moisture, rot, and wear. Products made from cork include acoustic tiles, bottle stoppers, bulletin boards, flooring and wall tiles, personal flotation devices, shoe insoles, and sporting goods such as baseball and cricket ball cores, handles for fishing rods, and helmet cushioning.

Cork has been used more recently in "green" construction as insulation and roofing.

The first thing that comes to mind when talking about cork are cork stoppers for wine bottles, but its versatile features are what makes cork, as a material, useful in a variety of industries.

The uses of cork are many. Besides cork stoppers, cork is also used as a flooring material, both in homes and on boats, because of the cork's virtual impermeability to water. It's used as an insulator in house walls, roofs, and floors.

Cork has also seen use in sports, as it is a part of balls in both baseball and cricket, as well as in badminton shuttlecocks. It can be used in motors, bulletin boards and fishing floats.

As the cork oak grows mostly in the Mediterranean, it is natural that its largest producers are countries in that region, such as Portugal, Spain, France, and Morocco, but there are dozens of cork product manufacturers in the US as well.

The value of this industry in Portugal alone is close to one billion euros. In the US, the growth of the cork stopper market has shown a growth of approximately 7 percent annually.

While this means cork manufacturers have ample opportunity for success and expansion, they are also exposed to a number of threats that could have devastating consequences for their future. Hence, business in this industry need to make sure they have the right cork products manufacturers insurance on their side.

What should you know if you own and run a company that manufactures cork products?

Cork products manufacturers insurance protects your manufacturing business from lawsuits with rates as low as $57/mo. Get a fast quote and your certificate of insurance now.

Below are some answers to commonly asked cork products manufacturing insurance questions:

What Is Cork Products Manufacturers Insurance?

Cork products manufacturers insurance is a type of insurance coverage specifically designed for companies that manufacture products made from cork. This type of insurance protects the manufacturer against various risks and losses that may occur during the production process, such as damage to machinery, injury to employees, and damage to raw materials or finished products.

The coverage may also provide protection against liability claims if a cork product is found to be defective or causes harm to a consumer. The specific coverage and terms of cork products manufacturers insurance will vary depending on the insurance provider and the needs of the manufacturer.

How Much Does Cork Products Manufacturers Insurance Cost?

The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small cork products manufacturing businesses ranges from $57 to $79 per month based on location, size, revenue, claims history and more.

Why Do Woodworkers Need Insurance?

Insurance For Manufacturers

Each business faces a range of risks. Some of those risks are universal, while others are highly specific to certain types of businesses.

Whatever type of product you produce, you're not immune to natural disasters such as earthquakes, wildfires, lightning strikes, tornadoes, and floods. On the other hand, since cork is harvested from wood, damage to vehicles might be expected, and injuries also pose a great risk to the employees. Machines get broken, and theft and vandalism also pose a risk for many industries, including cork production.

Certain risks can be avoided if proper precautions are taken, but other disasters just happen. Cork products manufacturers insurance is important because when something goes wrong, the proper coverage will be there to catch you.

What Type Of Insurance Do Cork Products Manufacturers Need?

While some risks are universal, it should be noted that each company is unique - and the same holds true for their insurance needs. That is why manufacturers of cork products should consult a commercial insurance agent, who can talk them through the factors that influence the required insurance coverage.

They include the amount of cork products you produce, your local climate and terrain, and your number of employees. Together, you'll find the cork products manufacturers insurance that is most suitable for your needs.

While each industry, and each company are unique, the essential types of insurance that cover the basic hazards your company will face include:

  • General Liability: This type of insurance covers the expenses caused by damaging property owned by third parties, such as the machines you rent, or a building you rent. It also covers the expenses of bodily injury liability, if it takes place on your premises.
  • Commercial Property: This type of cork products manufacturers insurance protects your business from any damage caused to your property as a result of theft and vandalism, as well as damage caused by natural disasters, such as wildfires, tornadoes, earthquakes, and lightning strikes, among others.
  • Product Liability: This type of insurance covers the expenses of lost revenue, if you are, for any reason, in the situation that you need to recall your product. It also covers legal expenses and medical bills in the case that your products cause bodily harm to third parties.
  • Workers Compensation: This type of insurance protects both your workers and your company, in this case from potential lawsuits. In the case of a work-related injury, medical expenses and lost income are both covered.

Bear in mind that these examples of essential kinds of insurance may not cover the whole spectrum of your company's needs, and that consulting an insurance agent who specializes in cork products manufacturers insurance is your fastest and most effective way of discovering the unique insurance requirements of your business.

Cork Products Manufacturing's Risks & Exposures


Premises liability exposure is normally low as access by visitors is limited. If tours are given or if there is a retail outlet on the premises, visitors may be injured by slips, trips, or falls. The storage of cork in the open could pose an attractive nuisance hazard.

The yard should be fenced with proper lighting and warnings. Fire and fumes or vapors from coating and finishing operations may reach neighboring premises. If the manufacturer does installations, there may be frequent small property damage claims.

Products liability exposure depends on the type of product that is manufactured. The exposure can be very low for consumer products such as acoustic, flooring, or wall tiles, or very high for safety devices such as life preservers and life jackets.

Environmental impairment exposure is usually low to moderate because cork is a natural product that is nontoxic and nonflammable. Disposal of adhesives and binders may result in air, ground, or water contamination. Storage and disposal procedures must adhere to all EPA and other regulatory standards.

Workers compensation exposures may be high. Injuries from production machinery are common, as are cuts, puncture wounds from sewing, slips, trips, falls, back injuries from lifting, hearing loss from noise, and repetitive motion injuries.

Workstations should be ergonomically designed. Exposure to binding agents or dust can result in respiratory problems. Drivers of forklifts and vehicles may be injured in accidents.

Property exposures consist of an office, shop, warehouse for finished goods, and a yard for storage of cork that is being seasoned. While cork is not flammable, the adhesives and binders used to process ground cork can cause fire and explosion.

These should be adequately separated and stored away from other operations. The processes involved in producing the cork product involve machinery that must be maintained to prevent fires. Cork stored in the open may attract thieves.

Equipment breakdown exposures include malfunctioning production equipment, electrical control panels, and other apparatus. Breakdown and loss of use to the production machinery could result in a significant loss, both direct and under time element.

Crime exposure is from employee dishonesty. Background checks should be conducted on all employees. There must be a separation of duties between persons handling deposits and disbursements and handling bank statements.

Inland marine exposures include accounts receivable if the manufacturer offers credit, computers (which may include computer-run production equipment), exhibitions, goods in transit, and valuable papers and records for customers' and suppliers' information.

The major perils are fire, theft, water, collision, and upset. There may be an ocean marine cargo exposure if the manufacturer owns the cork being imported.

Business auto exposure is high if the manufacturer transports its finished goods or picks up raw materials. Manufacturers generally also have private passenger fleets used by sales representatives.

There should be written procedures regarding the private use of these vehicles by others. Each driver should have an appropriate license and an acceptable MVR. All vehicles must be well maintained with documentation kept in a central location.

What Does Cork Products Manufacturers Insurance Cover & Pay For?

Cork Products Manufacturers Insurance Claim Form

There are several reasons why Cork Products Manufacturers can be sued, including:

  • Product Liability: If a cork product manufactured by a company is found to be defective or dangerous, it could lead to injuries or property damage. In such cases, the company can be sued for product liability.
  • Intellectual Property Infringement: If a Cork Products Manufacturer infringes on the patents, trademarks, or copyrights of another company, they can be sued for intellectual property infringement.
  • Breach of Contract: If a Cork Products Manufacturer fails to fulfill its contractual obligations, such as delivering products on time or providing products of a certain quality, it can lead to a breach of contract lawsuit.
  • Employment Disputes: Cork Products Manufacturers can be sued by their employees for various reasons, such as discrimination, harassment, or wrongful termination.

In order to protect themselves from these types of lawsuits, Cork Products Manufacturers can purchase various types of insurance, including:

Product Liability Insurance: This type of insurance protects the manufacturer in case their product causes injury or property damage. If a lawsuit is filed against the manufacturer for product liability, the insurance policy can help pay for legal fees, settlements, or judgments.

Intellectual Property Insurance: This type of insurance protects the manufacturer in case they are sued for intellectual property infringement. If a lawsuit is filed against the manufacturer, the insurance policy can help pay for legal fees, settlements, or judgments.

Business Liability Insurance: This type of insurance provides general liability coverage for the manufacturer, protecting them against various types of lawsuits, including those related to breach of contract or employment disputes.

So, for example, if a Cork Products Manufacturer is sued for product liability because of a defective product and they have product liability insurance, the insurance policy can help pay for the legal fees, settlement, or judgment associated with the lawsuit.

Similarly, if the manufacturer is sued for intellectual property infringement and they have intellectual property insurance, the insurance policy can help pay for the legal fees, settlement, or judgment. Overall, having insurance can provide a crucial layer of protection for Cork Products Manufacturers, helping them mitigate the financial risks associated with lawsuits.

Commercial Insurance And Business Industry Classification

Description for 2499: Wood Products, Not Elsewhere Classified

Division D: Manufacturing | Major Group 24: Lumber And Wood Products, Except Furniture | Industry Group 249: Miscellaneous Wood Products

2499 Wood Products, Not Elsewhere Classified: Establishments primarily engaged in manufacturing miscellaneous wood products, not elsewhere classified, and products from rattan, reed, splint, straw, veneer, veneer strips, wicker, and willow.

  • Applicators, wood
  • Bakers' equipment, wood
  • Baskets, except fruit, vegetable, fish, and bait: (e.g., rattan, reed,
  • Battery separators, wood
  • Bearings, wood
  • Beekeeping supplies, wood
  • Bentwood (steam bent) products, except furniture
  • Blocks, tackle: wood
  • Blocks, tailors' pressing: wood
  • Boards, bulletin: wood and cork
  • Boards- clip, ironing, meat, and pastry-wood
  • Boot and shoe lasts, regardless of material
  • Bowls, wood: turned and shaped
  • Briquettes, sawdust or bagasse: non-petroleum binder
  • Bungs, wood
  • Buoys, cork
  • Bushings, wood
  • Cane, chair: woven of reed or rattan
  • Carpets, cork
  • Cloth winding reels, wood
  • Clothes dryers (clothes horses), wood
  • Clothes drying frames, wood
  • Clothes pins, wood
  • Clubs, police: wood
  • Cooling towers, wood or wood and sheet metal combination
  • Cork products
  • Corks, bottle
  • Covers, bottle and demijohn: willow, rattan, and reed
  • Curtain stretchers, wood
  • Dishes, wood
  • Display forms for boots and shoes, regardless of material
  • Dowels, wood
  • Extension planks, wood
  • Faucets, wood
  • Fellies, wood
  • Fencing, wood: except rough pickets, poles, and rails
  • Firewood and fuel wood containing fuel binder
  • Flour, wood
  • Frames: medallion, mirror, photograph, and picture-wood or metal
  • Furniture inlays (veneers)
  • Garment hangers, wood
  • Gavels, wood
  • Grain measures, wood: turned and shaped
  • Hammers, meat: wood
  • Hampers, laundry: rattan, reed, splint, veneer, and willow
  • Handles, wood: turned and shaped
  • Hubs, wood
  • Insulating materials, cork
  • Jacks, ladder: wood
  • Knobs, wood
  • Ladders, wood
  • Last sole patterns, regardless of material
  • Letters, wood
  • Life preservers, cork
  • Mallets, wood
  • Market baskets, except fruit and vegetable: veneer and splint
  • Marquetry, wood
  • Mashers, potato: wood
  • Masts, wood
  • Mauls, wood
  • Moldings, picture frame: finished
  • Novelties, wood fiber
  • Oars, wood
  • Pads, table: rattan, reed, and willow
  • Paint sticks, wood
  • Pencil slats
  • Plugs wood
  • Poles wood: e.g., clothesline, tent, flag
  • Pressed logs of sawdust and other wood particles, non-petroleum
  • Pulleys, wood
  • Racks, for drying clothes: wood
  • Rattan ware, except furniture
  • Reed ware, except furniture
  • Reels cloth winding wood
  • Reels for drying clothes: wood
  • Reels, plywood
  • Rollers, wood
  • Rolling pins, wood
  • Rules and rulers: wood, except slide
  • Saddle trees, wood
  • Sawdust, reground
  • Scaffolds, wood
  • Scoops, wood
  • Seat covers, rattan
  • Seats, toilet: wood
  • Shoe stretchers, regardless of material
  • Shoe trees, regardless of material
  • Signboards, wood
  • Skewers, wood
  • Snow fence
  • Spars, wood
  • Spigots, wood
  • Spokes, wood
  • Spools, except for textile machinery: wood
  • Stakes, surveyors': wood
  • Step-ladders, wood
  • Stoppers, cork
  • Tile, cork
  • Tool handles, wood: turned and shaped
  • Toothpicks, wood
  • Trays: wood, wicker, and bagasse
  • Trophy bases, wood
  • Vats, wood: except coopered
  • Washboards, wood and part wood
  • Webbing: cane, reed, and rattan
  • Willow ware, except furniture
  • Wood, except furniture: turned and carved
  • Woodenware, kitchen and household
  • Yardsticks, wood

Cork Products Manufacturers Insurance - The Bottom Line

Cork products manufacturers insurance policies can vary widely in coverage and exclusions. Discover if your insurance policies cover your operations by talking to an experienced business insurance agent.

Often they are able to save you on premiums and offer you better policy options than you currently have.

Additional Resources For Manufacturing Insurance

Learn all about manufacturing insurance. Manufacturers face many unique risks such as product libility and/or product recall exposures due to the nature of their business operations.

Manufacturing Insurance

The manufacturing industry is a vital part of the economy and plays a significant role in the production of goods and services. However, it is also an industry that is prone to risks and accidents, which can result in costly damages and lawsuits. Therefore, it is essential for businesses in the manufacturing industry to have insurance to protect them against potential losses.

Business insurance can cover a wide range of risks, including property damage, liability, and worker injuries. For instance, if a fire were to break out in a manufacturing facility and destroy equipment or inventory, commercial insurance could cover the costs of replacing or repairing the damages. Similarly, if a worker were to be injured on the job, business insurance could cover medical expenses and lost wages.

In addition to protecting against physical damages, insurance can also provide financial protection against legal liabilities. If a customer were to sue a manufacturing business for a faulty product, the commercial insurance could cover the costs of legal fees and settlements.

Overall, insurance is essential for the manufacturing industry as it helps to mitigate risks and protect against unexpected costs. Without it, businesses in the industry could face financial ruin in the event of an accident or lawsuit.

Minimum recommended small business insurance coverage: Building, Business Personal Property, Business Income with Extra Expense, Equipment Breakdown, Employee Dishonesty, Accounts Receivable, Computers, Goods in Transit, Valuable Papers and Records, General Liability, Employee Benefits Liability, Environmental Impairment Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.

Other commercial insurance policies to consider: Earthquake, Flood, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.

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