MC069: ASK MAKINGCHIPS: Do You Have the Right Classification? with Marc Alberico and Steve Lorenzini

We’re all familiar with Murphy’s Law; “Anything that can go wrong, will go wrong”. We’ve talked about this extensively in a previous MakingChips episode on crisis management, but what can you do to make sure that your manufacturing company is covered in the event that something goes wrong?

“It’s not a matter of if, it’s a matter of when.”

From equipment breakdowns, to customer and employee claims of injury,  you need to be equipped with the knowledge of what kind of coverage you’ll need for the challenges you face as a Manufacturing Leader. The reality is that many manufacturers have limited knowledge on the subject, and are often hesitant to reach out to their insurance agency. What can the metalworking nation learn from the insurance industry?

On this episode of MakingChips, we talk about insurance and risk management with Marc Alberico and Steve Lorenzini of The Daniel and Henry Company. Marc and Steve share their extensive knowledge of risk solutions for the manufacturing industry and provide an answer to a MakingChips listener’s question. In manufacturing news, we talk about the future of automation and it’s business implications.. Jim and Jason share details of two very special MakingChips events as we look forward to IMTS 2016.

Episode Structure:

• [03:25] – Manufacturing News
• [06:45] – Mastermind Series
• [08:05] – MakingChips at IMTS 2016
• [09:35] – Introducing Steve and Marc
• [11:36] – Answering Rob Trout’s Email
• [13:05] – How did this collaboration begin?
• [19:06] – OSHA Compliance
• [21:15] – Understanding the Depth of Your Business
• [24:38] – “The Sheep in Wolf’s Clothing”
• [26:30] – Product Liability (Prototype vs Medical)
• [32:15] – Misclassified Areas
• [38:15] – When to Call the Insurance Company
• [40:40] – Conclusion of Episode

Mentioned in this Episode:

• Manufacturing News
• IMTS 2016
• The Daniel and Henry Company
• Contact Marc & Steve
• Ryan’s Patreon Account

We Want to Hear From You, The Metalworking Nation:

• jim@makingchips.com
• jason@makingchips.com
• ryan@makingchips.com
• Telephone: (312) 725-0245