Selling is only the tip of the iceberg – from your suppliers to your website and marketing, there’s a lot to take care of. Normally things run smoothly, but it doesn’t mean mistakes won’t happen, whether they’re yours or someone else’s. Even if an employee or supplier is to blame, you could be held liable.
From stock damage to supply chain problems, it is vital that insurances you purchase respond as you expect when you need them, enabling you to keep doing what you do best. Selling and looking after your customers.
Selling is only the tip of the iceberg – from your suppliers to your website and marketing, there’s a lot to take care of. Normally things run smoothly, but it doesn’t mean mistakes won’t happen, whether they’re yours or someone else’s. Even if an employee or supplier is to blame, you could be held liable.
From stock damage to supply chain problems, it is vital that insurances you purchase respond as you expect when you need them, enabling you to keep doing what you do best. Selling and looking after your customers.
Someone might slip on an item of clothing on your shop floor and injure themselves, or a customer could have an allergic reaction to a wrongly labelled chocolate bar bought on your premises. Even if you’re personally not at fault, you could face a liability claim. If you trade online or you just use computers for managing orders, one malicious cyber attack could seriously disrupt your business.
Dealing with a major incident is emotionally draining and it’s a real headache for your business too, but floods, fires and robberies do happen, even if you’ve taken the right precautions.
Employers’ liability is an essential part of your insurance program as the vast majority of employers are required by law to purchase such cover. It is designed to protect your business if an employee injures themselves at work or becomes ill due to their job.
As a retailer you are likely to be working closely with the general public and suppliers. If a customer injures themselves on your premises this policy will fund legal defence costs and pay any damages awarded.
Retailers and distributors are often held accountable by law should a product they sell injure a customer or damage their property. Product liability insurance will cover you for legal costs and compensation from any such claims.
Retailers such as yourself are best served by specialist shop insurance, this comprehensive cover can provide protection for:
This cover is there to protect your organisation against Cyber Crime. As the retail sector evolves more business in being traded on-line ,meaning that you rely on technology to operate effectively and therefore run the risk of a data breach or a virus. Criminals will look to exploit any organisation with weak cyber security. Cyber insurance cover is available for the ever increasing risks of cyber exposures, ranging from hacking or viruses, cyber crime/fraud through to social engineering and software ransom.
Please feel free to contact us if you wish to discuss in any more detail. We’re here to help
R.K. Henshall © 2024
R K Henshall & Co Ltd are Independent Intermediaries and are authorised and regulated by the Financial Conduct Authority. Registration Number: 308865. Directors: J.R. Henshall B.A.(Hons) ACII Cert CII (FS), A.J.Simpson ACII, A.Brown FCCA. Written quotations, policy terms, conditions and exclusions are available on request.
Company Secretary: A.Brown FCCA. Registered No. 01285024
R K Henshall are very proud to support Lupus UK. Lupus UK is a charity very close to our hearts. Unfortunately, Nita Davies who had been a stalwart of our company from it’s very beginning lost her battle against this terrible illness in 2013. Lupus UK is the only National Charity which supports people with the immune system illness. (Registered charity nos. 1051610, SC039682) Click here to read more about Lupus UK.
