Aug 13 Reuters James Kirsh expects the cost of the property and casualty insurance for his familyowned foundry in Wisconsin that makes cast iron parts for tractors and other equipment to at least double when it39;s up for renewal this fall.

Hes been told it could triple.

The problem is that his longtime insurer Acuity has told his insurance agent it no longer wants to cover factories like his, which handles molten metal. So they39;ll need to piece together coverage from multiple, highercost alternative providers.

Its a mess for the whole industry, said Kirsh, the companys president.

A spokesperson for Acuity declined to respond to questions about its plans to stop providing insurance to the foundry industry.

The cost of insuring everything from homes to cars in the U.S. has surged in recent years, driven by factors including rising costs of car and home repairs and more storm damage amid climate change. Auto insurance, for instance, has seen its biggest increases since the 1970s over the past year and is even cited by economists as an outsized factor in the inflationary wave the Federal Reserve has fought to tame with interest rate hikes beginning in March 2022.

So it39;s no huge surprise that factories are getting hit.

Many manufacturers handle dangerous materials and operate heavy machinery that can cause accidents and fires, which has always meant paying hefty premiums. This is especially true for smaller manufacturers, who are generally viewed as posing…