At IC Insurance Solutions, we understand the specific challenges you face as a vape manufacturer. Even though the vape trade is profitable, it comes with difficulties and risks of its own.
Whether you have a small corner shop or a large e-liquid store, we can match your vape insurance needs and offer comprehensive protection to your e-liquid business.
What is Vape Manufacturer Insurance?
Vape manufacturer insurance provides comprehensive coverage and support to vape manufacturer’s insurance against the risks associated with e-cigarette trade. Vape manufacturer insurance can help you by securing your business assets and core business activities.
Vapes are a relatively new concept. There is very little information and almost no research has been conducted on the effects of long-term vape usage. That is why many insurers and brokers consider vape makers high-risk and are hesitant in extending insurance cover to them.
IC Insurance Solutions is not like the rest. Our experience in the market has enabled us to connect with a vast network of prominent insurers who are aware of all the risks involved in e-liquid business and are able to provide comprehensive cover to your business concerns.
Why You Need Vape Manufacturer Insurance?
When you are running a business, being prepared for the unforeseen is always a good idea. Here is why you should consider vape insurance:
Whenever a customer opts to file a consumer complaint, they will consider the name on the label. If your business’s name is on the label or you have made any alterations to the product, you will be held liable.
Defending your business against allegations can take a toll on your finances. Court fees, costs of proceedings, expenses and legal charges may cost your business tens of thousands of Pounds.
Investigations by Regulators
The vape industry is growing in the UK but so is industry-wide regulation. Investigations and fines are becoming more prevalent.
You will be held liable for any harm or injuries caused by an unsafe product. Your customers have the liberty to sue you or prosecute you.
With a vape manufacturer insurance, you can cover yourself against prosecutions and related legal costs.
Affordable Risk Mitigation
One of the advantages of vape insurance with IC Insurance Solutions is that you will get comprehensive coverage at very competitive premiums.
The introduction of TPD has necessitated compliance with stringent industry and safety standards for e-liquid businesses.
IC Insurance Solutions has partnered with competent compliance firms to handle this for you. Our partner firms will appoint a seasoned Account Manager who can navigate your business through pending TPD or FDA costs in an effective manner.
What is Covered by Vape Manufacturer Insurance?
US Export Cover
US export cover is an insurance policy that covers your vape business if a US-based importer or buyer does not pay for the merchandise you exported.
It is compulsory to obtain employer’s liability insurance in the UK if your business employs anyone. Failure to comply with this rule can result in a fine of £2,500 per day.
An employer’s liability insurance protects you against compensation claims by employees who are injured in the course of working for your enterprise.
Business interruption insurance by IC Insurance can cover you against the loss of income resulting from a natural catastrophe.
Building insurance would compensate you in case your business premise is damaged or destroyed. You will be offered an amount based on the cost of rebuilding or repairing your business premises.
Cover for Legal Expenses
Legal expenses insurance provides coverage against the cost of legal advice and court action. It typically covers lawyer fees, cost of proceedings and compensation you may have to pay as a result of claims that are upheld.
About IC Insurance Solutions:
IC Insurance Solutions is a vibrant and enthusiastic insurance intermediary with a passionate team comprising of experienced insurance experts and seasoned brokers. We know the market inside out and our strong partnership with insurance providers enables us to provide comprehensive coverage to you at a competitive price.