Trust in ICA to benchmark results that enhance clients’ coverage while reducing their overall cost of risk.



ICA has served the Chemical Industry over four decades. With clients that have ranged from aerospace safety-product manufactures, to urethane-product distributors, and clients that source organic and inorganic compounds, reagents, phase transfer catalysts, dyes, metallic elements, and others, ICA is a professional team member of our Chemical Industry clients’ operational and financial risk management organizations.

As society has evolved to protect consumers over the past decade, the increase in personal injury awards to injured plaintiffs from product liability damages far exceeds any other category of liability damages awarded – including general liability, negligence, and medical malpractice.

It should be no revelation that the party having control of products, changes when those products cross certain geographic boundaries. Upon entering the United States, specific regulations dictate compliance and control procedures, for example storage, transportation, and disposal of the product(s) to protect the public and the environment. Therefore, failing to secure the right types and levels of insurance coverage could reach a point of critical mass if chemical businesses neglect to contain their liability exposures from their products and completed operations, also potentially hindering their ability to fully recover after a loss.

Chemical Industry leaders who appreciate fine-tuned structuring of chemical compounds, would relate to ICA’s fine tuning of risk management programs and structuring layers of coverage. ICA’s method entails a formulaic balancing of clients’ risk appetite for exposures to loss and their potential cost of risk, for layering coverage to surround the client like covalent bonds around an elemental nucleus. Layering a program for optimal coverage first requires the alignment of underlying policies that must interact with one another without confliction – conceptually similar to reaching fluid laminar flow. Once achieved, the program’s underlying coverage must adhere to the requirements of the excess layers, for triggering excess coverage at specific attachment points in ascending order of the structured layers.

The fundamental need to develop a sound risk management methodology is catalyzed by the increasing degree of risk posed by chemical businesses operating in different geographic regions. Chemical Industry businesses must take a careful approach to measure their business objectives against the potential costs of risks that face the organization, ensuring that safety measures and damage control protocols are clearly communicated between their management teams, employees, salespeople, and customers; wherever business operate or transact throughout the world.

Therefore, understanding demographic factors that may create a first or third party loss, and exposures tied to supply chain management, product sourcing, transportation, processing, product life cycle, environmental and pollution risks, are all “elements” that comprise forming a comprehensive risk management program – by factoring internal and external sources of risk, and prioritizing those factors.

In today’s world, just one cyber event may trigger a chain reaction of further losses and collateral damage, potentially requiring remediation or clean-up expenses, third party liability claims, and first party business interruption losses.

Chemical industry clients retain ICA on an ongoing basis because as new opportunities are discovered for product sourcing, scientific processes developed, and operations undergo adaption, all which may pose new types of exposures that need to be addressed. ICA helps ensure that adequate protection or recourse is placed in terms of securing the appropriate financial backstops, usually in the form of insurance, for the client to be made whole after a loss. Supplemental to the most widely used services that ICA provides its clients, Chemical Industry businesses should review ICA’s Claims Management and Disaster Planning and Recovery services available to them.

The following testimonial speaks to the value of structuring the most balanced and stable risk management programs to Chemical industry clients that ICA has served for over a decade, each:

“We sought out ICA in a panic after our GL and Products Liability Insurer decided just before renewal to non-renew our insurance, for no known reason. As a metal powders distributor, the GL carrier suddenly decided we were not a fit risk, even though we had never had a claim! … After ICA’s efforts, they were able to find solid GL/Products Liability Coverage for only $28,000” (compared to $40,000 of premium spending on the client’s previous and weaker policy) “including $5 million of Umbrella coverage! After that, we decided that it was pretty good business to keep ICA on retainer, and in countless other instances, ICA solved our risk management problems as soon as they arose, efficiently and completely. ICA allows us to sleep at night, knowing we are protected securely.” – Chemical/Elemental Distribution Client

“After ICA’s completion of the audit of our Executive Management Liability coverage, we then focused on the marketing of our Ocean Marine policy. We experienced the same diligence, and fairness, and our rate was cut in half, and once again, the limits and coverage were substantially increased to meet our actual exposures.”– Urethane Sourcing and Distribution Client

Contact ICA for a comprehensive list of client references.