Ink Manufacturers Insurance Policy Information
Ink Manufacturers Insurance. Since ancient Egypt, people have been using ink for all sorts of things ― like writing, drawing, and designing. Ink can be a gel, solid, or a solution. It can fall into one of four classes: aqueous, liquid, paste, or powder. Ink is composed of two main components; colorants and binders.
Ink manufacturers produce a wide variety of inks ranging from inks used in pens for handwriting to tattoo inks used in coloring the skin to specialized magnetic inks used in the printing industry.
Inks can be used to print on plain or coated paper, various types of metal and plastic, and assorted composites.
Ink is made by mixing of pigments or dyes with an oil-based or solvent-based medium, grinding it, then packaging for shipment. The final product is typically in liquid, paste, or powder form.
While some ink contains toxic chemicals or additives, such as heavy metals to make particular colors, nontoxic soy and water-based mediums are being increasingly used to reduce the environmental impact.
There are two main steps in ink manufacture. Varnish, a clear liquid, is the base of any ink. Depending on the type of ink, different types of varnish can be used and produced by mixing resins, solvents and additives.
After the varnish is produced, pigment is added and mixed thoroughly, to break the clumps of pigment, and distribute it evenly.
There are more than 400 ink manufacturing companies in the US employing 8,600 workers. The market size is about $3bn. The ink industry has faced several challenges in the past years, mainly due to a lot of media switching to paperless forms, but the demand for ink will always be present, since it is used for much more than printing newspapers.
Ink manufacturing companies nonetheless face many risks, and it is essential to carry the correct ink manufacturers insurance. Read on to discover what that may entail.
Ink 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 ink manufacturing insurance questions:
- What Is Ink Manufacturers Insurance?
- How Much Does Ink Manufacturers Insurance Cost?
- Why Do Ink Manufacturers Need Insurance?
- What Type Of Insurance Do Ink Manufacturers Need?
- What Does Ink Manufacturers Insurance Cover & Pay For?
What Is Ink Manufacturers Insurance?
Ink manufacturers insurance is a type of insurance coverage specifically designed for companies that manufacture and distribute ink products. This type of insurance provides financial protection for businesses in the event of accidents, injuries, product liability claims, and other risks associated with producing and selling ink.
Some common types of ink manufacturer insurance coverage include general liability, product liability, workers' compensation, property damage, and commercial auto insurance. The coverage can be customized to meet the specific needs of each individual ink manufacturer, taking into consideration the size and scope of the business and the type of products they produce.
How Much Does Ink Manufacturers Insurance Cost?
The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small ink manufacturing businesses ranges from $57 to $79 per month based on location, size, revenue, claims history and more.
Why Do Ink Manufacturers Need Insurance?
Regardless of industry, each business faces countless risks. Natural disasters, such as lightning strikes, wildfires, floods, and earthquakes can affect any company. Vandalism and theft are also a constant threat to every business.
Companies in the field of ink production are additionally vulnerable to a range of specific risks. Heavy metals and volatile organic compounds are both used in ink production, and they pose a risk to both the environment and workers. Any accident that happens can cause significant financial damage to a company.
Certain risks can be avoided, if the right precautions are taken, and if safety procedures are followed strictly. Even the most responsible business owners still face hazards, as some accidents are just waiting to happen, and there's no way of stopping them. This is why firms in this industry need to be armed with the right ink manufacturers insurance coverage.
What Type Of Insurance Do Ink Manufacturers Need?
Even though all ink manufacturers produce similar products, this is not a simple question to answer. Each company is unique and experiences its own risks and needs. This is why it is important to talk to an experienced commercial insurance agent.
You are familiar with every aspect of your business, while your insurance agent is an expert on the variety of risks that might affect different companies. Together, you can design the insurance plan that best shields your company from potential risks.
Some of the most common types of ink manufacturers insurance needed include:
- General Liability: In the event that your company's activities lead to third party property damage or a third party is injured on your premises, this kind of insurance covers the resulting legal costs. It also helps pay for settlement fees in case of a successful lawsuit.
- Commercial Property: This type of ink manufacturers insurance covers your physical property - your building and the assets therein - in case of damage or loss caused by the forces of nature (lightning strikes, earthquakes, floods, fire, hurricanes) and by theft or vandalism.
- Product Liability: This type of insurance covers the expenses resulting from third party liability claims relating to your product, such as claims that exposure to it led to health problems. In the event that a problem with your raw materials or other error requires you to recall a batch of ink, this type of insurance may additionally cover the lost revenue.
- Workers' Compensation: People who work with ink are exposed to heavy metals and volatile chemicals, which puts them at risk of work related injury. This type of insurance covers the medical expenses resulting from occupational injury and illness as well as lost income for the injured worker.
Ink has existed for thousands of years, and will be around in the foreseeable future, but like all industries, this one faces new challenges each day. While you can easily overcome minor inconveniences, some disasters might hit so hard that it could be impossible to recover.
By investing in the right ink manufacturers insurance, you invest in your company's future and in present peace of mind.
Ink Manufacturing's Risks & Exposures
Premises liability exposures can be significant due to the potential for contamination and the need for evacuation that may occur if there is a chemical release. Solvents may be reactive (flammable, corrosive or explosive), toxic or both. Fumes and vapors, both on premises and off, can affect visitors, neighbors and passersby.
Evacuation plans should be in place. The fire department must be aware of the chemicals in use so that they can have appropriate gear on hand to control any fire or vapor release. If the manufacturer conducts tours, visitors may be injured by slips, trips, or falls.
Products liability exposure is generally low unless the ink is to be used in products designed for human consumption, for medical purposes, or inserted under the skin. Ink used for food or drug packages may be regulated by the FDA due to the potential for the ink to leak into the food or drug, causing illness.
Environmental impairment exposure can be light if mediums are soy or water-based, or high if solvent-based. Heavy metals used in producing particular colors of ink may be hazardous. Vapors, fumes, or spillage can contaminate ground, air or waterways. Processes may cause thermal or noise pollution. Disposal of wastes must adhere to all federal and state guidelines.
Workers compensation exposures may be high. If chemicals are used, they may be toxic or caustic, with a high potential for injury to eyes, lungs, or skin. Injuries from production machinery are common, as are burns, slips, trips, falls, foreign objects in the eye, hearing impairment from noise, back injuries from lifting and other material handling, and repetitive motion injuries.
Workstations should be ergonomically designed. Employees must be fully informed as to the potential effects of any chemicals, including long-term occupational disease hazards, so that they can take action as quickly as possible. Eyes must be protected and eye wash areas should be close to all vats.
Property exposures consist of an office, plant, and warehouse or yard for storage of raw materials and finished goods. Ignition sources include electrical wiring, heating systems, production machinery, and buildup of static electricity and sparks. Hazards vary depending on the flammability of the medium mixed with the ink pigment. With soy or water-based ink, the exposure to fire is limited.
If the mediums use resins, solvents, or other reactive chemicals, the fire and explosion potential is high and must be controlled, including separation during storage or processing, and proper ventilation to control fumes, dust, and vapors. Storage areas should be kept cool to prevent explosions.
Poor housekeeping may be a serious fire hazard. Unless disposed of properly, greasy, oily rags (such as those used to clean the machinery) can cause a fire without a separate ignition source. Raw materials and finished stock may be susceptible to loss by fire, moisture, or temperature change.
Equipment breakdown exposures include malfunctioning production equipment, ventilation electrical control panels and other apparatus. A lengthy breakdown to production machinery could result in a severe loss, both direct and under time element.
Crime exposures are chiefly from employee theft. 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. The manufacturer should have security methods in place to prevent theft.
Inland marine exposures include accounts receivable if the manufacturer offers credit, computers (which may include computer-run production equipment), goods in transit, and valuable papers and records for customers' and suppliers' information.
Ink manufacturers typically have laboratories with significant schedules of EDP equipment for spectrographic analysis, color matching, and other quality control functions. The main causes of loss during transport are fire, water, and loss by spill or contamination, especially during a collision.
Business auto exposure is very high if the manufacturer transports materials using its own tanker trucks due to the potential for overturn and spillage. Drivers should be trained in spill containment, have an appropriate license with a Hazardous Materials endorsement, and an acceptable MVR.
All vehicles must be well maintained, particularly tankers, with documentation kept in a central location. Manufacturers generally have private passenger fleets used by sales representatives. There should be written procedures regarding the private use of these vehicles by others.
What Does Ink Manufacturers Insurance Cover & Pay For?
1. Product Liability: One of the most common reasons ink manufacturers may be sued is due to product liability issues. This can occur if the ink causes damage, harm, or injury, such as skin irritation from tattoo ink or health problems due to toxic substances in the ink. In such cases, the manufacturer could be held legally responsible.
Insurance Protection: Product liability insurance can protect ink manufacturers from such lawsuits. This type of insurance policy can cover the legal costs associated with defending the claim, as well as any settlements or judgments awarded to the plaintiff. It can also pay for recall costs if the product has to be removed from the market.
2. Intellectual Property Infringement: Ink manufacturers may also be sued if they're accused of infringing on another company's patent, trademark, or copyright. For instance, if an ink manufacturer creates a product that is too similar to a patented ink composition, they could face a lawsuit.
Insurance Protection: Intellectual property insurance can help in such scenarios. This policy can cover legal defense costs, settlements, and court-ordered payouts. It's important for ink manufacturers to understand that typical general liability insurance may not cover intellectual property disputes, hence the need for a specialized policy.
3. Breach of Contract: Lawsuits can also arise from contract disputes, such as failing to deliver ink products on time, not meeting agreed-upon quality standards, or not fulfilling other contractual obligations.
Insurance Protection: Commercial General Liability (CGL) insurance usually covers bodily injury, property damage, personal injury, and advertising injury claims made against a business, including breach of contract claims. This can help pay for legal defense costs, court fees, and any financial damages the business is found liable for.
4. Environmental Damage: Ink manufacturers use various chemicals in their production processes, and improper disposal of waste can lead to environmental damage. If an ink manufacturer is found to be polluting the environment, they could face hefty fines and legal actions.
Insurance Protection: Environmental impairment liability (EIL) insurance can help cover the costs associated with such claims. This policy can pay for legal defense costs, clean-up costs, and any fines or penalties imposed by regulatory authorities.
5. Workplace Accidents: If an employee gets injured while working, the ink manufacturer could be sued for damages. This could be due to unsafe working conditions, insufficient training, or lack of appropriate safety measures.
Insurance Protection: Workers' Compensation Insurance is a must-have for any manufacturing business. This policy covers medical expenses, rehabilitation costs, and a portion of lost wages for employees who get injured or become ill due to their job. In addition, it often includes employer's liability insurance, which can cover legal fees and damages if the employee decides to sue the company over the injury.
Commercial Insurance And Business Industry Classification
- SIC CODE: 3952 Lead Pencils, Crayons, And Artists' Materials, 2893 Printing Ink, 2899 Chemicals And Chemical Preparations, Not Elsewhere Classified
- NAICS CODE: 325998 All Other Miscellaneous Chemical Product and Preparation Manufacturing, 325910 Printing Ink Manufacturing
- Suggested Workers Compensation Code(s): 4557 Wax Products Manufacturing
Description for 3952: Lead Pencils, Crayons, And Artists' Materials
Division D: Manufacturing | Major Group 39: Miscellaneous Manufacturing Industries | Industry Group 395: Pens, Pencils, And Other Artists Materials
3952 Lead Pencils, Crayons, And Artists' Materials: Establishments primarily engaged in manufacturing lead pencils, pencil leads, and crayons; and materials and equipment for artwork, such as air-brushes, drawing tables and boards, palettes, sketch boxes, pantographs, artists'colors and waxes, pyrography goods, drawing inks, and drafting materials. Establishments primarily engaged in manufacturing mechanical pencils are classified in Industry 3951, and those manufacturing drafting instruments are classified in Industry 3829.
- Artists' materials, except drafting instruments
- Boards, drawing: artists'
- Boxes, sketching and paint
- Brushes, air: artists'
- Burnishers and cushions, gilders'
- Canvas board, artists'
- Canvas, artists': prepared on frames
- Chalk: e.g., carpenters', blackboard, marking, artists', tailors'
- Colors, artists': water and oxide ceramic glass
- Crayons: chalk, gypsum, charcoal, fusains, pastel, and wax
- Drafting materials, except instruments
- Drawing tables and boards, artists'
- Easels, artists'
- Enamels, china painting
- Eraser guides and shields
- Frames for artists' canvases
- Frisket paper (artists' material)
- Gold or bronze mixtures, powders paints, and sizes: artists'
- India ink
- Ink, drawing: black and colored
- Lettering instruments, artists'
- Maulsticks, artists'
- Modeling clay
- Paints for burnt wood or leather work, platinum
- Paints for china painting
- Paints, artists'
- Palettes, artists'
- Pantographs for drafting
- Pastels, artists'
- Pencil holders
- Pencil lead: black, indelible, or colored
- Pencils, except mechanical
- Pyrography materials
- Sizes, artists': gold and bronze
- Sketching boxes, artists'
- Tracing cloth (drafting material)
- Walnut oil, artists'
- Water colors, artists'
- Wax, artists'
Description for 2893: Printing Ink
Division D: Manufacturing | Major Group 28: Chemicals And Allied Products | Industry Group 289: Miscellaneous Chemical Products
2893 Printing Ink: Establishments primarily engaged in manufacturing printing ink, including gravure ink, screen process ink, and lithographic ink. Establishments primarily engaged in manufacturing writing ink and fluids are classified in Industry 2899, and those manufacturing drawing ink are classified in Industry 3952.
- Bronze ink
- Flexographic ink
- Gold ink
- Gravure ink
- Ink, duplicating
- Letterpress ink
- Lithographic ink
- Offset ink
- Printing ink: base or finished
- Screen process ink
Description for 2899: Chemicals And Chemical Preparations, Not Elsewhere Classified
Division D: Manufacturing | Major Group 28: Chemicals And Allied Products | Industry Group 289: Miscellaneous Chemical Products
2899 Chemicals And Chemical Preparations, Not Elsewhere Classified: Establishments primarily engaged in manufacturing miscellaneous chemical preparations, not elsewhere classified, such as fatty acids, essential oils, gelatin (except vegetable), sizes, bluing, laundry sours, writing and stamp pad ink, industrial compounds, such as boiler and heat insulating compounds, metal, oil, and water-treating compounds, waterproofing compounds, and chemical supplies for foundries. Establishments primarily engaged in manufacturing vegetable gelatin (agar-agar) are classified in Industry 2833; those manufacturing dessert preparations based on gelatin are classified in Industry 2099; those manufacturing printing ink are classified in Industry 2893; and those manufacturing drawing ink are classified in Industry 3952.
- Acid resist for etching
- Acid, battery
- Anise oil
- Antifreeze compounds, except industrial alcohol
- Bay oil
- Binders (chemical foundry supplies)
- Boiler compounds, antiscaling
- Bombs, flashlight
- Caps, for toy pistols
- Carbon removing solvents
- Chemical cotton (processed cotton linters)
- Chemical supplies for foundries
- Citronella oil
- Concrete curing compounds (blends of pigments, waxes, and resins)
- Concrete hardening compounds
- Core oil and binders
- Core wash
- Core was
- Correction fluid
- Corrosion preventive lubricant, synthetic base: for jet engines
- Deicing fluid
- Desalter kits, sea water
- Dextrine sizes
- Drilling mud
- Dyes, household
- Essential oils
- Ethylene glycol antifreeze preparations
- Eucalyptus oil
- Esothermics for metal industries
- Facings (chemical foundry supplies)
- Fatty acids: margaric, oleic, and stearic
- Fire extinguisher charges
- Fire retardant chemical preparations
- Fluidifier (retarder) for concrete
- Fluorescent inspection oil
- Fluxes: brazing, soldering, galvanizing, and welding
- Foam charge mixtures
- Food contamination testing and screening kits
- Foundry supplies, chemical preparations
- Fuel tank and engine cleaning chemicals, automotive and aircraft
- Fusees: highway, marine, and railroad
- Gelatin capsules, empty
- Gelatin: edible, technical, photographic, and pharmaceutical
- Glue size
- Grapefruit oil
- Grouting material (concrete mending compound)
- Gum sizes
- Gun slushing compounds
- Heat insulating compounds
- Heat treating salts
- Hydrofluoric acid compound, for etching and polishing glass
- Igniter grains, boron potassium nitrate
- Industrial sizes
- Insulating compounds
- Jet fuel igniters
- Laundry sours
- Lemon oil
- Lighter fluid
- Magnetic inspection oil and powder
- Margaric acid
- Metal drawing compound lubricants
- Metal treating compounds
- Military pyrotechnics
- Oil treating compounds
- Oleic acid (red oil)
- Orange oil
- Orris oil
- Oxidizers, inorganic
- Packers' salt
- Parting compounds (chemical foundry supplies)
- Patching plaster, household
- Penetrants, inspection
- Peppermint oil
- Plating compounds
- Pyrotechnic ammunition: flares, signals, flashlight bombs, and rockets
- Railroad torpedoes
- Red oil (oleic acid)
- Rifle bore cleaning compounds
- Rosin sizes
- Rubber processing preparations
- Rust resisting compounds
- Signal flares, marine
- Sizes: animal, vegetable, and synthetic plastics materials
- Sodium chloride, refined
- Soil testing kits
- Spearmint oil
- Spirit duplicating fluid
- Stearic acid
- Stencil correction compounds
- Tints and dyes, household
- Torches (fireworks)
- Vegetable oils, vulcanized or sulfurized
- Water treating compounds
- Water, distilled
- Waterproofing compounds
- Wintergreen oil
- Wood, plastic
- Writing ink and fluids
Ink Manufacturers Insurance - The Bottom Line
Ink manufacturers insurance policies can be very different in coverage, costs and exclusions. To discover if your ink manufacturing operation has the best fit insurance policies - talk to an experienced commercial insurance broker.
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.
- 3D Printing
- Audio & Video Equipment
- Auto Parts
- Bottling Plants
- Brooms & Brushes
- Camping Equipment
- Canned Fruit & Vegetables
- Canvas Products
- CBD Oil And Hemp
- Clock & Watch
- Commercial Air Conditioning
- Commercial Electronics
- Communications Equipment
- Construction Equipment
- Cork Products
- Dairies & Creameries
- Down And Feather Products
- Dry Ice
- Dyes & Pigments
- Electronic Toys & Games
- Exercise Equipment
- Farm Equipment
- Feed & Grain
- Flavoring Extracts
- Frozen Foods
- Fruit Juice
- Fur Garment
- Garage Door
- Gypsum Products
- Ice Cream
- Industrial Equipment
- Iron & Steel Foundries
- Lawn Mowers
- Leather Apparel
- Leather Goods
- Lighting & Wiring
- Lumber & Wood Products
- Machine Shop
- Major Electrical Appliances
- Marijuana Products
- Mattresses & Box Springs
- Metal & Plastic Furniture
- Metal Heat Treating
- Metal Toys
- Musical Instruments
- Nonferrous Foundries
- Ornamental Metalwork
- Paper & Allied Products
- Pet Food
- Plastic & Rubber Toys
- Plastic Goods
- Plastics Molding, Forming & Extruding
- Product Liability
- Psychedelic Drugs
- Pulp & Paper Mills
- Residential Air Conditioning & Heating
- Rubber Goods
- Sawmills & Planing Mills
- Screw Machine Products
- Sheet Metal
- Soap & Detergent
- Small Electrical Appliances
- Sporting Goods
- Stone Products
- Textiles Finishing & Coating
- Tool & Die Shops
- Vegetable Juice
- Vending Machines
- Wire Rope
- Wood Furniture
- Writing Instruments
- Specialty Manufacturing
- Specialty Product Liability
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.