Major Risks in the WV Metal Industry

Major Risks in the WV Metal Industry


Danger lurks around every corner. Sure. But some corners have been proven to be more dangerous than others. The fact is, the metal industry is a thriving sector of our economy. $75 billion in steel alone. Unfortunately, the metal industry is also one of the most dangerous and risky. With that combination, it’s important your company feels protected.


Safety and risk management is an important factor to your company’s bottom line as well as the personal health of your employees. Yeager Insurance wants to help you conduct business as usual while we take the weight of work related risks onto our shoulders.


Here are some key factors to look into when it comes to protecting yourself.


Foreign Suppliers and Importing Risks

Trust is a big part of the metal industry. When the product is imported from a foreign country, we hope they have thoroughly inspected and protected the materials. Unfortunately, some of their standards are not on par with ours. And currency exchange rates are subject to change at any time, leaving you unprotected from inconsistency.


There are US safeguards in place to protect you, but they are limited. It’s up to you to ensure your product line is clean and protected by practicing vigilance when it comes to monitoring the product and investments.


Major Machinery Fails

Machinery is not foolproof. It will fail and everyday it is out of commission you are losing money. Not to mention the cost to replace or repair. If you’ve got Yeager Insurance, we will react quickly and get you up and running as soon as possible to ensure minimal loss and damage.


Product Recall

While not common, a product recall can be disastrous to your company. You run the risk of lost product and legal action being taken against you. Product recall (or product withdrawal) insurance comes in two forms.


Recall expense coverage pays for losses affecting the manufacturer. (E.g. costs to pull recalled product and notify the public.)


Product recall insurance also covers expenses for those customers or others who have been injured by the defective protect, keeping you out of the crossfire.


Employee Injury

Worker related injuries can happen anywhere and everywhere in your company. Working with machinery, lifting and moving heavy product, and dust exposure are only a few examples. In fact, in 2012 we had 24 metal industry fatalities and a 6% worker injury rate. 6 out of every 100 of your employees will likely become injured. They could be out of commission for days or even weeks if not longer. Possibly slowing down manufacturing and shipping speeds.


The very next thing you need to do is review your insurance – and your agent. Make sure you’re working with someone who knows the ins and outs of your business.


Call Yeager Insurance today at 304-797-3900 and let our agency help you make sure your metal business is covered.



Defensive Driving: Freedom from Being “at Fault”

Approximately 10 million car accidents occur every year. There are only 253 millions cars driving on US roads. Put into perspective, 1 in 25 cars will be involved in an accident this year (not counting two car collisions). Almost all of those accidents were avoidable. Simple, careless mistakes by the participants. These are harrowing statistics. Though we hear these numbers, we think, “but I’m a safe driver.”


What is the difference between a relatively “safe driver” and a “defensive driver”? Cautiousness and application. With distractions on the road at an all time high, it’s no wonder drivers are feeling less safe every day. The difference means adoption of preventable measures. Preventable measures that will turn you into a defensive driver and potentially save your life on the streets.


Keep Your Mind on the Road


The age old saying “Keep your eyes on the road” is a great start to discussing defensive driving, but anyone who has found themselves daydreaming in geometry class knows the curse of the blank stare. It’s not enough to be watching the road if you aren’t really seeing it. Just as you’ll never remember the Pythagorean theorem if you were focusing your attention on what’s for lunch in the cafeteria. The blank stare can mean the difference between whether or not you notice the Dodge Charger running the red light in front of you. With proper focus and attention, you will find yourself with enough reaction time to stop a devastating situation.


Safe Speeds and Space


Speed limits are max speeds, not minimum speeds. Sometimes road conditions are too dangerous to be driving 60, even in a 60 zone. In conditions of rain, snow, or icy roads you should drop your speed well below the limit. Drop to ⅔ the limit in rain, and ½ in ice or snow. Always better safe than sorry. If ever you feel unsafe, drop even lower. Satisfying the patience of the truck behind you is less important than your safety and well being. They can pass you, or wait. And make sure you always have at least 3-4 seconds of space between you and the car in front of you. You may have heard 2-3 seconds, but if for any reason they slam on their brakes, you’ll have adequate time to slow down with safety. Thus preventing what could have been a tragic accident. Avoid making yourself part of the statistic.


Paranoia is not Awareness


These statistics and warnings may make it seem as though danger is looming around every street corner. This can make you tense, jumpy, agitated. Remember that presence and mindfulness of the road will keep you safe in most circumstances. With a calm, focused demeanor, you’ll be able to keep your head on a swivel. You’ll maintain awareness of your surroundings, your speed and your distance, with ease.


Make sure you’re following these Defensive Driving preventative measures to avoid accidents and keep yourself from being at fault.


Contact Yeager Insurance today to see how we can help with your car insurance needs and to get a free quote at 304-757-3900.