St. Paul Focuses on Manufacturers With DesignPoint

The St. Paul Cos. today announced a renewed focus on the mid-size manufacturing industry with the debut of a new product, St. Paul DesignPoint for Manufacturers.

The new product takes a comprehensive and specialized approach to protecting the risks of manufacturers, such as protection for product recall related expenses, worldwide products coverage that protects manufacturers facing liability from claims made or lawsuits filed overseas as well as in the United States, and expanded coverages for property and general liability. The debut of St. Paul DesignPoint is part of St. Paul’s efforts to expand and grow its business in the mid-size manufacturing sector.

The centerpiece of St. Paul DesignPoint includes specialized insurance coverage for specific risks faced by manufacturers, such as product recall exposure. St. Paul DesignPoint provides protection for companies facing voluntary recalls as well as recalls that are government-mandated. According to the Consumer Products Safety Commission, approximately 300 household items are recalled every year. Recalls pose a real concern for manufacturers who may face unanticipated and costly expenses resulting from recall actions.

St. Paul DesignPoint also provides specific protection for manufacturers facing losses related to the defect, design or installation of their products. Errors and omissions coverage can help protect manufacturers from these types of financial losses, which are often difficult to foresee and can place significant financial stress on businesses.

St. Paul said it is uniquely positioned to serve the mid-size manufacturing marketplace because of the company’s expertise in serving these businesses as well as its specialty offerings that complement products like St. Paul DesignPoint.

Topics Manufacturing