Retailers can overlook certain risks that could impact their business. Underinsurance or inappropriate insurance can determine whether your retail operation remains open for business or goes under.
However, there are many things you can do to ensure you have the best cover. For example, by applying a dollar value to particular risks and understanding the financial burden each risk may produce, you can better identify the potential effect on your bottom line. Other things often overlooked include the impact of exchange rates and inflation as well as the growth of technology, which means you may not be able to replace what you lost with the same item, product or process.
But don’t worry, Morgan Insurance will navigate you through the ocean of insurance cover and lead you to the safe harbour of effective risk management. Morgan will also guide you through many of the other risks that need to be considered including those listed below.