The world of Property & Casualty (P&C) insurance is shifting rapidly, and for manufacturers, staying informed is more critical than ever. In this episode of the Iowa Manufacturing Podcast, host Leisa Fox sits down with Katie Hensley, Risk Management Consultant with Cottingham & Butler, to make sense of the new realities shaping insurance coverage. Together, they break down what’s happening in the marketplace, how it impacts businesses, and most importantly, what leaders can do to better protect their companies.
Katie unpacks the complexities of the property market where weather volatility and a shrinking reinsurance market have reduced capacity, forcing many admitted carriers out and surplus lines carriers in. Manufacturers are feeling the effects of changes in blanket coverage, stricter requirements for statements of values, and the need to pay close attention to valuations and loss control recommendations. While challenges exist, there is relief on the horizon for those who are proactive.
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Beyond property, Katie and Leisa dive into business continuity and business interruption insurance. Too often, companies make guesses when setting BI limits, but Katie stresses the importance of customized worksheets to avoid gaps. They also discuss the growing role of third-party risk engineers, certificates of insurance requirements, and the nuances of Manufacturers E&O coverage.
General liability markets are hardening due to “social inflation” and nuclear verdicts, while product recall exposures are becoming more pressing. Workers’ compensation, on the other hand, remains soft, but Katie urges HR leaders and operations teams to actively engage in claims communication. The episode also covers high hazard operations, fleet and auto exposures, and the ongoing risks of cyberattacks—where insurance remains affordable but requires vigilance as carriers flag new vulnerabilities.
Katie rounds out the conversation with a look at management liability policies—D&O, fiduciary, crime, and EPL—underscoring the importance of keeping employee handbooks updated, policies enforced, and communication tight to avoid costly “oh no” moments.
For manufacturers navigating today’s evolving insurance landscape, this episode provides clarity, practical steps, and a strategic lens to help ensure coverage is not only compliant but also effective in protecting long-term business resilience. For more information and to connect with Katie, email kahensley@cottinghambutler.com.