OLDWICK, N.J., July 20, 2015—This A.M.BestTV episode looks at how insurers are preparing for a host of coverage issues, including product liability, intellectual property claims and other concerns as 3-D printers become more advanced and available.
3-D printing, which has tremendous capabilities and is revolutionizing the world, is expected to be a $21 billion industry by 2020, according to Wohlers Report 2014.
“Today, a lot of the headlines concerning 3-D printing are about consumer applications; however, it is really in the industrial area that it is most exciting, because for some of these industries it is a real game changer,” said Robert Weireter, vice president, senior underwriter, treaty officer at Swiss Reinsurance Corporation.
According to Cindy Slubowski, vice president, head of manufacturing at Zurich North America, 3-D printing is being used in “the medical field, construction and food and traditional manufacturing.” She said that the challenges are in the risks, noting that it is uncertain whether the responsibility would lie with the consumer, the people who designed the product, the 3-D printer or the people who designed the material if something were to go wrong “That is the difference between the traditional manufacturing environment and what we’re going to encounter in this 3-D world,” Slubowski said.
To learn more about 3-D printing please see the July issue of Best’s Review or visit http://www.bestreview.com.