Retirement plan sponsors are the first, and most important, line of defense in providing employees with well-managed retirement savings plans.
When COVID-19 and government stay-at-home orders swept across the U.S., Reyes Automotive Group, an on-site supplier for Toyota Motor Manufacturing and SWBC client, was put in a tough position when automotive manufacturing essentially came to a halt.
Meanwhile, Personal Protective Equipment (PPE) was in short supply across the nation, leaving first responders and front-line healthcare workers without the critical equipment they needed to treat the sick. Reyes Automotive Group saw this as an opportunity to leverage their team members’ skillset and their manufacturing facilities to serve the local community by producing medical face shields, while putting their team members back to work.
“We found a product that we were able to mass produce very rapidly,” said Jason Reyes, President of Reyes Automotive Group. Within 24 hours, they were able to create a prototype. Then, utilizing their supply chain knowledge, they scaled up production of medical face shields from a few hundred per day to more than 25,000 face shields per day. However, pivoting from producing automotive parts to medical face shields meant their commercial insurance coverage needed to be adjusted.
What happened next? Click here to check out the full story!
Related Categories
InsuranceBrett Morgan
Brett Morgan specializes in alternative risk transfer programs, professional liability, Directors & Officers liability, and employment issues centered on protecting clients’ assets. He has an extensive background in understanding property exposures and a customer’s business processes. Brett has taught various seminars on business interruption, protecting your company while conducting business in foreign countries, and protecting your client’s internal controls from theft.
Let Us Know What You Thought about this Post.
Put your Comment Below.