The printing industry has undergone a massive transformation in recent years, with some commercial printers focused on high-production runs and others pivoting to digital technology for on-demand and personalized printing. But, while an industry in transition presents new opportunities, it also creates new risks.
While print shops face the same risks as any other business — from theft to natural disasters to liability issues such as slips, trips, and falls — they also face risks unique to the industry. Even something as seemingly mundane as a typo could hurt their bottom line and damage their reputation.
Common risks for commercial printers
While some events are beyond your control, understanding commercial printer risks can help you sidestep issues or mitigate damage. For example, whether you own your facility or lease a space, that facility houses expensive production machinery, raw materials and inventory that, if damaged or stolen, could cost your business thousands (or even hundreds of thousands) of dollars.
Commercial printers rely on their specialized equipment to get the job done. So, consider what would happen if a sudden power surge damages the electrical transformer in your printing press, or a major storm floods your production floor. Not only are you responsible for costly repairs, but your entire production line will be disrupted, resulting in either increased expenses such as overtime wages, or a loss of business resulting loss of income. You may even have to temporarily shutter your business, which can lead to missed deadlines and frustrated customers.
While some commercial printers focus on traditional paper printing, others are expanding into digital web-to-print models, which can amplify their cyber risk. Since printers are connected to a network, they can act as a gateway for cyberattacks. So, once a hacker gains access to the network, they can steal data and launch malware, including ransomware attacks.
If you use a company vehicle or fleet to pick up supplies or deliver products to customers, your drivers are at risk of collisions and road-related hazards that could result in personal injury or damage to vehicles and cargo. If you’re using a personal vehicle for work-related errands, then you may not be covered under your personal auto policy.
Best practices to combat risks for commercial printers
In traditional print shops where you work with chemicals such as inks, pigments, and solvents, it’s important to follow best practices for health and safety in the workplace, such as wearing gloves when handling chemicals and ensuring adequate airflow to avoid breathing in fumes.
With equipment, follow maintenance schedules and use predictive analytics to anticipate potential issues before they happen. Even something as simple as maintaining a consistent temperature and humidity level in your print shop can help to prevent machine malfunctions.
Whether your operation is highly digitized or not, it’s important to protect your networked printers from cyberattacks. That means using strong user authentication, regularly updating firmware, encrypting data, and segmenting your network (so your printers are separated from databases that hold sensitive information, such as credit card numbers or intellectual property).
To protect against theft and vandalism, combine physical deterrents (such as bright lighting) with technology (such as AI-enabled surveillance cameras). To protect machinery from extreme weather events, explore options such as flood walls (inflatable walls that prevent water from entering) or specialized fire suppression (rather than standard water sprinklers) that won’t damage expensive machinery and electronics.
It’s also important to back up all important documents to the cloud and have an emergency response plan in place, such as elevating equipment on cinder blocks and using waterproof coverings in the event of potential flooding. If you hire drivers, perform motor vehicle record checks, ask for references, and provide proper training.
How commercial printer insurance can help
In addition to providing coverage for liability, property, and employees, commercial printer insurance offers specialized coverages tailored to your needs. These coverages could include cyber, business interruption, pollution liability, and commercial auto, among others.
Don’t assume that commercial general liability (CGL) or commercial property insurance will cover all potential commercial printer risks. For example, if you lease your space but some of your machinery is permanently installed, you’ll want to make sure that machinery is explicitly covered.
And, while your property policy will protect against loss or damage resulting from fire or theft, it won’t cover accidental breakdown of equipment such as presses, rotogravures, or laminating machines. For that, you’ll need equipment breakdown coverage, endorsed for production machinery.
Sometimes things happen that are beyond your control. That’s where commercial printer insurance comes in. But it’s always worth talking to your insurer to make sure you have the right coverages as your business — and the industry — evolves.
Protect your business with commercial printers insurance
Despite your best efforts to combat risks, things can still go wrong. That’s where the appropriate insurance coverage comes in. With the right insurance, if your business should suffer a loss, you’re prepared — and won’t have to cover all of the costs yourself. Visit our commercial printers insurance page to find out more today!
This blog is provided for information only and is not a substitute for professional advice. We make no representations or warranties regarding the accuracy or completeness of the information and will not be responsible for any loss arising out of reliance on the information.
