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Latest industry news:
July 2010
Recent trade press has revealed that the cost of raw materials such as polystyrene and polypropylene have increased by as much as 40% and is therefore slowing down the recovery of the plastic processors industry.
Our Plastech policy includes a polymer fluctuation clause which means that if you suffer a loss of materials and the price has soared since the original purchase of the stock, our policy would settle for full reinstatement of the goods at today's cost of replacement - most insurers do not offer terms on this basis - hence the need to work with specialist insurers/brokers in the Plastic Industry.
Plastics manufacturers who win large contracts could expose themselves to potential gaps in cover if their insurer is not kept informed regarding the increased sum insured. With the 2012 Olympics fast approaching contracts for masterbatch products amongst others are being awarded and so it is imperative that client's review their sums at risk on a regular basis
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